SMU Cox Business Plan Competition Winner Moves into NTEC Facility
FRISCO, TX - March 24, 2010 - The North Texas
Enterprise Center (NTEC), a business accelerator for MedTech and
CleanTech related technology firms, announced today that Jon
Mueller and Matt Vroom, have moved their new business "MP Flow"
into the NTEC facility. Multi Phase Flow International (MP
Flow) is an oil and gas equipment startup company that has
developed a multi phase ultrasonic metering device which, coupled
with a groundbreaking software package, renders existing meters
obsolete. The patented MP Flow meter and proprietary software
package instantly translates high frequency sound waves into
constant, separated measurements of the oil, gas, and water content
from the mixture produced by a well. Every year oil producers
lose countless millions of dollars for lack of better well
production data. MP Flow solutions will help these companies reduce
such losses.
MP Flow earned a one-year free lease at NTEC in Southern
Methodist University's (SMU) 2010 Business Plan Competition.
NTEC provides a fully furnished office with telephones, Internet
access and its full suite of amenities including five conference
rooms, work rooms, printers, copiers, seminar facility and much
more. The entire package represents a value of nearly
$14,000.
Left to Right: Dr. Yildirim Hurmuzlu Chairman of the Board,
Jon Mueller CEO and Matt Vroom COO.
"Ultrasound is a safe and proven technology that has been
around for decades, however, our patented meter ushers in a whole
new era in ultrasound technology for the oil and gas industry
because it comprehensively measures complex flow schemes and
provides new information," said Jon Mueller, CEO of MP Flow.
The SMU Business Plan Competition is a multi-semester
competition providing students with the crucial competencies
necessary to transform a simple idea into a viable business
concept. Since its inception in 2001, teams have competed for cash
prizes, in-kind awards such as office space and legal advice, and
some have gone on to receive actual venture capital financing for
their concept.
"We are proud to be a sponsor of the SMU Business Plan
Competition because it provides us with an opportunity to support
emerging entrepreneurs. These are the business leaders of tomorrow
who will create companies, value, profit and jobs in DFW," said Dr.
Hubert Zajicek, senior director at NTEC, who served as a judge and
is himself a veteran of the business plan competition and an SMU
Cox alumni.
"We are excited to work with Jon and Matt to help them make MP
Flow a success here at NTEC and for Frisco," said Larry Calton,
executive director at NTEC.
The SMU Business Plan Competition has several phases where
students across SMU have the opportunity to identify like-minded
individuals, and form alliances to begin work on their respective
concepts. Thereafter, students receive guidance and consultation to
fine-tune their summaries through workshops. After that, their
Executive Summaries are evaluated and finalists are chosen who then
advance to the next stage. The selected teams receive further
guidance and extensive coaching to finalize both their elevator
pitch and their business plans. Finally, the teams pitch their
ideas in front of a panel of judges with expertise in venture
capital, early-stage investing, or entrepreneurship.
ABOUT
NTEC
The North Texas Enterprise Center (NTEC) is a 501(c)(3)
Not-for-Profit corporation that assists entrepreneurs with
starting and growing new technology-based ventures. The
Center provides a broad base of support to entrepreneurs, both
internally and through its extensive resource network.
NTEC is focused on the rapidly growing medical and clean
technology sectors, and seeks out technologies which have the
potential to become disruptive by leveraging the convergence
of computer processing power, communications, software, and
information technology.
As one of the leading technology business accelerators in
the south central U.S., NTEC provides its program companies with a
comprehensive suite of services and infrastructure enabling them to
accelerate market entry and attract investment capital. For
more information about NTEC visit www.ntec-inc.org.
ABOUT SMU
COX
SMU's Cox School of Business offers a full range of business
education programs, including BBA, full-time MBA, Professional MBA
(PMBA), Executive MBA (EMBA), Master of Science in Management
(MSM), and Executive Education. The school also offers a number of
unique resources and activities for students, ranging from its
Business Leadership Center (BLC), Caruth Institute for
Entrepreneurship, Maguire Energy Institute, and American Airlines
Global Leadership Program (AAGLP) to its Associate Board Executive
Mentoring Program and an international alumni network with chapters
in more than 20 countries. SMU Cox is ranked among the top business
schools nationally and internationally by major publications,
including BusinessWeek, The Economist, Financial Times, Forbes,
The Wall Street Journal, and U.S. News & World
Report.
END