)
The members of ‘Team Visolis’, comprising four students from the Indian School of Business (ISB) class of 2013 and a student of MIT Sloan School of Management, were invited to ring the closing bell at the Nasdaq OMX Stock Exchange in New York on Tuesday.
They were given this opportunity as Visolis was the winning team of the prestigious ‘Global Venture Labs Investment Competition (GVLIC)’ organised by the McCombs School of Business, University of Texas, Austin.
GVLIC is an annual, graduate student-centric event designed for new ventures from around the world to obtain funding and feedback from investors and successful entrepreneurs. The competition simulates the real world process of raising venture capital. This year, the competition witnessed participation from 40 teams from 11 countries across the world.
According to an ISB press release here on Wednesday, Visolis is developing the next-generation of biocatalysts that can convert renewable feedstocks into chemicals and fuels at a price point competitive with petroleum-based processes. The team from the ISB will offer a way to reduce the environmental impact with sustainable alternatives to petroleum-based products for a wide range of industries.
The members of the winning team, Akshat Pipersenia, Amrita Dutta, Aditya Jain, Ashish Kohli of the ISB, and Deepak Dugar of MIT Sloan School of Management, received a prize package worth $75,000 including $25,000 in cash, one year of office space and $25,000 in consulting services.
