Varuna Wins Wells Fargo Clean Technology Award Winner at Fall 2017 TVLIC

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The UT Austin student company called Varuna won the Wells Fargo Clean Technology Award at the Fall 2017 Texas Venture Labs Investment Competition (TVLIC) at The University of Texas at Austin on Dec. 1, 2017.

TVLIC featured 20 startup companies started by graduate students from programs at UT such as MBA, Masters of Science and Technology Commercialization, Electrical and Chemical Engineering, and Masters in Global Policy and Law. TVLIC is a bi-annual competition hosted by Jon Brumley Texas Venture Labs (TVL) at the McCombs School of Business at The University of Texas at Austin. The competition is open to all graduate students at UT Austin seeking funding for new business ventures where the students own 51% or more of the company.

The clean technology award is given to the company that the judges found to be the most potentially commercially viable (fundable) and that also had the greatest potential clean technology impact.

The winner, Varuna, removes the barriers to entry for hydroponic gardening with a system designed to reduce time and education constraints. Varuna’s mission is to deliver a highly intelligent, self-managing grow environment to a set of American consumers that are currently at a loss for options.  The company’s technology will allow both individuals and businesses to acquire data, and practice cultivation quickly and easily. Varuna is led by Greg Schultz and Jason Carrier, MSTC 2018.

As the Wells Fargo Clean Technology winner, Varuna received a cash prize of $5,000.

Wells Fargo established the award with TVL through a grant to expand the clean technology track at TVLIC by attracting students from various disciplines with a focus on clean tech solutions. The track includes advancing technologies for the conventional oil and gas sector with emphasis on water reuse and conservation as well as enhancing the alternative energy space.

TVL Venture Expo – Thursday, Dec 7th from 1 – 5pm, AT&T Executive Conference Center

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Join us for an afternoon with the latest and greatest startups Austin has to offer. From 1 pm – 5 pm, 14 of the best Austin startups will present their business plans at our bi-annual TVL Venture Expo event. 

We look forward to having you here at #VentureExpo !

Twitter & Facebook: @TXVentureLabs

#TVLCo for Accelerator Company pitches & photos








TVL Investment Competition Semifinals Schedule for Dec. 1

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The Fall 2017 Texas Venture Labs Investment Competition will be held in the ATT Conference Center at 1900 University Avenue.  The event is free and open to the public.  No need to RSVP.  Check out the schedule below and feel free to sit in on the ventures that pique your interest.  The top five teams will compete in the Finals beginning at 5 PM in the ATT Amphitheater.

Division I – Classroom 103

1:00 PM   Scholarplace develops and administers Scholarplace: AI, a web-based social network and gig-marketplace which connects Academics in the fields of Artificial Intelligence, Machine Learning and Big Data Analytics to short-term consulting opportunities for medium-sized business technologists. Scholarplace takes a percentage of honorariums exchanged for consulting services and charges academics a subscription fee.  Tim Fedorov, MBA 2018; John Marsh, JD 2018

1:35 PM    BabyButton is a multi-device enterprise view for daycare centers enabling remote monitoring of vital signs for all the newborns they care for. We charge daycares $100 a month to be a BabyButton certified facility plus a $20 fee for every baby they put on a monitor. Adrian Cruz Ramos, MSTC 2018; Gordon LeFeuvre, MSTC 2018; Sami Suteria, MSTC 2018; Boya Dai, MSTC 2018; Chi Ma, MSTC 2018

2:10 PM    The vision of Real-time Data Bank (ReTDB) is to transform outdated parking spaces into autonomous car-friendly spaces, which saves time to find spaces and bridges existing parking to the future parking. ReTDB offers real-time database and IoT devices to generate real-time information so that parking owners can promote their vacant spaces. Drivers and autonomous cars will have access to real-time availability over the database to make optimal decisions. ReTDB charges monthly subscription fees to parking owners.  Hiroto Hyakkoku, MBA 2018

2:45 PM    VUsense is a navigation technology company that delivers real-time, low-cost, centimeter-accurate vehicle positioning solutions. The company has partnered with the UT Austin’s Radio Navigation Lab to create precision navigation technology for vehicles and roadways. VUsense offers RTK networking and telematics solutions that speed adoption of autonomous vehicles. Mike Jasinski, MSTC 2018; Bruce Sanderson, MSTC 2018; Nasos Economou, MSTC 2018 

Division II – Classroom 104

1:00 PM   Volt480  helps manufacturers recover from downtime twice as fast and at half the cost by leveraging underutilized, local resources and utilizing machine learning to solve problems more efficiently. We are a marketplace that bills out resources on an hourly basis and we take a percentage of every transaction.  Bhavnesh Patel, MBA 2018

1:35 PM    Boreas Technologies is committed to enhancing the durability and survivability of intelligence, surveillance and reconnaissance (ISR) aviation platforms currently utilized by the intelligence community.  Liberty is a patent-pending advanced cooling solution constructed from novel techniques and provides twice the cooling capacity of the conventional solution at a fraction of its cost.  Brian Fuentes, MSTC 2018; Tyler McWilliam, MSTC 2018; Jermaine Cohen, MSTC 2018

2:10 PM     Varuna’s mission is to deliver a highly intelligent, self-managing grow environment to a set of American consumers that are currently at a loss for options. Varuna will remove the barriers to entry for hydroponic gardening with a system designed to reduce time and education constraints; thus, allowing individuals to practice home cultivation quickly and easily. Greg Schultz, MSTC 2018; Jason Carrier, MSTC 2018

2:45 PM    Wilder Systems helps aircraft manufacturers cut costs and improve quality by integrating mobile, collaborative robots which do not require significant factory reconfiguration to implement. Will Wilder, MBA 2018; Rich Huckle, MBA 2018

Division III – Classroom 107

1:00 PM    lettershine  is a social networking app and online platform for teenage girls (ages 13-17). Its mission is to source substantive content and to enable constructive dialogue. It provides a safe forum for teens to discuss sports, arts and academics, rather than superficial topics found on mainstream social media today. We make money primarily through online/in-app advertising and in-app premium paid for content.   Jacqueline Sigler, MBA 2019

1:35 PM    StockUp is an online marketplace for bars and restaurants to purchase alcohol from authorized distributors. StockUp makes money through subscription fees paid by bars and restaurants and transaction fees paid on purchases through the platform.  Blake Schwartz, MBA 2019

2:10 PM   Secure Logic brings digital awareness to the physical world.  By collecting and recording digital signatures of the smart things all around us, our Sentinel products feed data to our GlobalDetect platform, creating a connected global digital neighborhood watch that can be leveraged by security service monitoring providers to create new revenue streams.  Mike Volling, MSTC 2018; Molly Mae Potter, MSTC 2018; Geoff Korrub, MSTC 2018; Paul Jespersen, MSTC 2018

2:45 PM   The Right Call gives officials and those hiring them access to a predictive analytics software that reveals patterns, trends, tendencies and even biases in officiating that can be used for training, development and evaluation purposes. The Right Call makes money by charging annual and monthly subscriptions to conferences, universities and officials.   Fran Harris, MSTC 2018

Division IV – Classroom 108

1:00 PM    Drones of Prey  is creating an autonomous defense system designed to protect all property types from aerial incursions by unknown drones by utilizing image and sound recognition, launch platforms and defense drones. Drones of Prey is building a subscription service that will provide increased security and privacy. The system will detect, hunt and capture any invading UAV and coordinate with law enforcement/security post-capture.  Kevin Lenau, MBA 2018; Michael Cohen, MBA 2018

1:35 PM    GradSolva is a short-term, focused, results-oriented and competitively priced consulting performed by senior PhD graduate students. GradSolva removes the need for long, expensive and disruptive consulting projects. Companies can view consultant profiles and select the consultant with expertise most relevant to their problem, thus eliminating inefficiencies in the consulting process, increasing speed and reducing costs.   Shehab Alzobaidi, Chemical Engineering Ph.D. 2019; Alon Kirschner, Chemical Engineering Ph.D. 2019

2:10 PM    SeatPotato provides an in-seat delivery solution for concessionaires. Concessionaires and spectators at an entertainment event use the SeatPotato technology infrastructure to allow menu and merchandise orders to be delivered directly to a spectator’s seat.  SeatPotato will charge concessionaires a flat fee for usage per event.  Brandon Schreiner, MBA 2018

2:45 PM   Business Innovations for Good  (B.I.G. Ideas) is an incubator for female entrepreneurs in East Africa. B.I.G. Ideas teaches female entrepreneurs the essentials of business modeling, budgeting, project management, marketing, accounting, design thinking and sustainable development to help them spearhead environmentally friendly businesses within economies where their employment options are limited.   Laura Richards, MBA and Masters in Global Policy 2018

Division V – Classroom 201

1:00 PM   Tinted’s digital tool helps homeowner instantly select the perfect paint colors for their next DIY project. With a cost of $50 per product, customers start on a phone/website that collects project information, results are processed through a color engine and a customized color package is delivered to their door for final selection.  Anthony Farnsworth, MSTC 2018; Mat Kattoor, MSTC 2018

1:35 PM   Ranch Hand:  Healthy food has become big business; traditional food conglomerates and institutional investors are scrambling to keep pace. Ranch Hand, a made-to-order salad company, was founded by UT MBA students passionate about health who intend to expand Ranch Hand into a nationally recognizable brand.   Quentin Cantu, MBA 2019; Brian Murphy, MBA 2019

2:10 PM   EmbraceBox is a do-it-yourself hair product subscription box service for young girls (ages 4-14) with curly hair. Each month, subscribers receive the raw, natural ingredients and instructions to create their own natural hair product. Through the process of creation, young girls gain ownership and the confidence to rock their natural curls! Subscribers are automatically billed on a monthly recurring basis.   Angelise Hadley, MBA 2019

2:45 PM   ON-IT:  For most, doing something every day at the same time is a tedious and seemingly impossible task.  ON-IT is a wearable bracelet that holds a month’s supply of oral contraceptives and dispenses one pill at the same time every day with a gentle vibrating alarm.  The result is that women have a more efficient, consistent and effective method for remaining compliant with their medication while reducing serious side effects such as unplanned pregnancy or hormonal inconsistencies.
Renee Weissend, MBA 2018: Sara Lamason, MBA 2018; Laurel Fitzgerald, MBA 2018: Zach Streichler, MPA 2018


Cutting Edge Gamer – Advancing Gaming and Raising Capital, all in a Day’s Work (Spr. 2017 Accelerator Company)

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Cutting Edge Gamer – Advancing Gaming and Raising Capital, all in a Day’s Work

Every Fall and Spring Semester TVL scours Austin, TX searching for top pre- and post revenue startups seeking to make an impact in a variety of verticals and those with emerging technologies suited for growth.  In Spring 2017, as the sustained rise in the gaming industry continued to show proof that it was not stopping, Cutting Edge Gamer (CEG) joined the Texas Venture Labs (TVL) Accelerator program.

The TVL Accelerator matches Austin-area startups with cross-functional teams of UT Austin graduate students for 10-week long startup consulting projects. Our rigorous market validation process and our students’ research accelerates startups towards funding. At the end of the semester, each Accelerator company is offered an opportunity to present to Austin’s investor community at our capstone Venture Expo event.

Each startup that is accepted into the TVL Accelerator is in a unique and important phase of their business lifecycle as they seek to raise funding within the next 18 months. In the world of Elite Gaming, CEG offers a membership service providing an ‘experience of today’s best graphics technology at a fraction of the cost’.  Hardcore PC Gamers often spend $1000 or more for the latest and best graphics cards. Why do gamers want the best graphics cards money can buy? The answer: to have the best, be more competitive, and enable the latest GPU features like 4K Gaming and HD VR Gaming. [CNET]

Every founder will tell you that analyzing your financing strategy and raising capital is one of the key components to building a company that sustains its profits and doesn’t burn out before it has a chance to capture market share.  TVL sat down with Cutting Edge Gamer’s Founder and President, James Walsh, to give us insight into his journey through the TVL Accelerator and how Cutting Edge Gamer is ‘well on their way to reaching seven figures in annual revenues for the first time ever – quite an accomplishment for us!’

Spring into action! Apply now for TVL’s Accelerator Cohort!

Fireside chat with James Walsh, Cutting Edge Gamer Founder and President

What was Cutting Edge Gamer’s experience in the TVL Accelerator?

It was a great opportunity to be in the Spring 2017 cohort of the TVL Accelerator program.  The six grad students I was paired up with were excellent, and they produced some great work regarding two questions we had: 1) identifying new sources of funding, especially from equipment financing firms; and 2) valuating the company.  I met with my team every few weeks, and they were all self-motivated:  we basically set the scope of each project early on and then let them run with it.

How would you describe your experience leading up to and at the Venture Expo? 

As the team was working on the two projects, I could really see the results coming together as we neared the Venture Expo event.  The team even went beyond identifying new sources of funding and even called on CEG’s behalf to “warm” up the lenders and filter ones out.  The valuation, taken from a couple of different methods, was extremely beneficial for our Venture Expo presentation, as we could state with support our company’s valuation.  The Venture Expo was an excellent event, able to showcase what we are doing at CEG, our success to-date and our current investment opportunity.  I met quite a few investors and crowdfunding reps after the presentation, and I have connected with some of them since.

What surprised you most about the experience?

The quality of work from the team and the level of engagement I had with them over such a short period of time was quite a surprise.  The team also went above and beyond my expectations, such as pre-filtering the list of equipment financing firms and going after the valuation using several different methods, which really showed their sense of doing their best to help CEG succeed.

What feedback did you receive that helped you most going forward in your funding conversations?

Receiving a pre-filtered list of equipment financing companies has reduced my time immensely in trying to identify firms willing to do work with my company’s type of business model:  leasing graphics cards to PC gamers.  The valuation has also been key in conversations we have with potential investors and in narrowing our scope as to which type of investor we target for our promissory note program.

Where are you now in raising? 

At the time of the Venture Expo, we had closed on $310K in capital.  We are now at $820K in new capital for the year – over $500K since May!  Our goal for 2017 is to close on $1M in new capital so we are close to achieving our goal.

How were you able to obtain and leverage the $500K funding and how has this supported your fundraising strategy?

$310K came from individual investors who invested through our secured promissory note program, and $210K came via notes from equipment financing firms, so it is a good mix.

What other connections did you make through TVL and the whole process?

We have made connections with crowdfunding companies, ecommerce development / social media firms, and another TVL Accelerator alumnus company – SocialMatters – who has helped us use the power of LinkedIn to expand our investor network.

Where are you at now and what does the future hold for Cutting Edge Gamer?

We are well on our way to reaching seven figures in annual revenues for the first time ever – quite an accomplishment for us!  Our new website will allow us to sell PC gaming components to our customers – expanding our product lineup from just solely leasing graphics cards – will be launched very soon.  And next year we are looking to raise $1.6MM in new capital and growing Cutting Edge Gamer even more!

TVL couldn’t help but capture a few company website reviews that sum up the core of CEG’s business and what it means to its customers:

“It’s not at all about the price.  This is just “Smart Business Sense”.  Leasing from CEG for my business preserves capital and provides flexibility.  I have top notch customer service, warranty, unlimited upgrades, and expedited RMA.  From here on out it’s Cutting Edge Gamer for my business graphics needs!”  Cheshier, Bozeman, MT

“Really an awesome service.  I’d been stuck on hobby cards like a GTX 760 to a GTX 1060, then I IMMEDIATELY jumped on this wagon for an MSI GTX 1080 GAMING X and am happily gaming at 4K now. The shipping was fast.  From ordering and signing, I had the card in my rig in three days. Card was in mint condition, immaculate really, and has been running nonstop like a champ. It’s so much easier for me to pay monthly any way. I’m SO glad this company exists for us gamers. Only thing is, I’m probably going to have to upgrade to the GTX 1080 Ti now! ;)” Thomason, Denver, CO

“Finally a way to have top of the line cards without spending a grand all at once.  Very good support, and an actual company that puts the customer first!”  Blewer, Chattanooga, TN

2017 Fall TVL Investment Competition on December 1

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Do startup pitches energize your entrepreneurial spirit? Jon Brumley Texas Venture Labs proudly presents our 2017 Fall TVL Investment Competition (TVLIC) on Friday, December 1, 2017. This competition offers a unique opportunity for UT graduate students to pitch their startups to a panel of investors and entrepreneurs for a piece of $28,000 in cash and prizes. Past participants include BeatBox Beverages, Ordoro, uShip, and MacuCLEAR.

TVLIC will take place at the AT&T Executive Education & Conference Center at 1900 University Avenue. Teams will participate in a two-minute Nemec Elevator Challenge from 9 AM until 11 AM. Five divisions of semifinals will run from 1 PM until 4 PM in five classrooms. The finals will be held from 5 PM until 8 PM in the Amphitheater. These events are open to the public and are followed by an awards ceremony and networking reception. No need to RSVP.

We’ll post the schedule here as the date nears.  Questions?  Contact us at

Hear Rob Adams tell you all you need to know to work with TVL

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An In-Depth Look at Texas Venture Labs—
How it Works, and How You Can Get Involved 

Texas Venture Labs is a cross-campus initiative with graduate students who want to start a business after graduation, from engineering, architecture, pharmacy, sciences, law, and business. We create interdisciplinary teams and then parachute them into Austin area start-ups who are in the process of raising money. On November 17, I’ll share our approach and the process we use. Our funding rate is over 40 percent, which is extraordinary in the VC world. Hope you can join us!  Rob Adams, Ph.D.

Friday, Nov. 17, 2017

11:30 a.m. – 1 p.m.
Room 204  AT&T Executive Education and Conference Center
$25, includes lunch with vegan and gluten-free options
Register today!
UT Procard accepted with online registration
UT IDTs accepted Contact Gayle Hight
CPE credit offered
UT student option


  • The programs Texas Venture Labs runs.
  • How you can recommend companies to Texas Venture Labs’ accelerator.
  • How your company can apply to the accelerator.
  • The acceleration process we use.
  • How the investment competition works.
  • How you can get involved as an investment competition judge.


Rob Adams is on the faculty at The University of Texas at Austin where he teaches entrepreneurship in the Texas MBA and MSTC programs and is the director of Texas Venture Labs at the McCombs School of Business. He’s a former software executive, entrepreneur and institutional fund manager. He has served on many corporate boards and has founded or financed more than 40 companies, which have launched more than 100 products and raised significant amounts of capital in both private and public markets.

Rob is an internationally recognized speaker on innovation, commercialization, and entrepreneurship. He speaks frequently on his pioneering work in market validation and has keynoted the Inc. 500 business conference, international venture conferences, and consults for numerous global 500 companies. His work has been covered in Business Week, Forbes, Fortune, Money, The New York Times, The Wall Street Journal, Washington Post, on Bloomberg Radio, Public Television and public radio’s nationally syndicated “Marketplace” program.

He is the author of A Good Hard Kick in the Ass: Basic Training for Entrepreneurs (Random House/Crown, 2002), If You Build It Will They Come? Three Steps to Test and Validate Any Market Opportunity (Wiley, 2010) and is the co-author of New Venture Creation: Entrepreneurship for the 21st Century (McGraw-Hill, 2011).

Calling all UT Graduate Students from all Majors! – Texas Venture Labs Practicum – deadline approaching Oct. 2

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Calling all UT Graduate Students from all Majors!

Two important deadlines are fast approaching! Mark you calendar today to take advantage of these exciting opportunities that may only come once in your school career!

Texas Venture Labs Practicum – Spring 2018 Enrollment – Learn more below and Apply now! (deadline: October 2, 2017)


Texas Venture Labs Investment Competition – Apply now! (deadline: November 21, 2017)

Texas Venture Labs Practicum – Spring 2018 Enrollment (deadline: October 2, 2017)

Texas Venture Labs connects local startup companies with talented and entrepreneurial graduate students at the University of Texas. All majors are welcome! The practicum allows students to work in cross-functional teams to advance up and coming Austin start-ups. A sampling of past student representation includes all colleges and grad degrees: Ph.D’s, MBA’s, Business, Law, Engineering, Pharmacy, College of Natural Sciences, Translational Sciences, Information Sciences, Physics and the list goes on!

The TVL Practicum offers students the chance to participate in semester-long consulting projects solving important problems alongside the company’s founders. If admitted to the program, students will work closely with two startup companies on: market validation, competitive analysis, financial analysis, and business model assessment. Practicum students also receive extensive funding guidance from professors and entrepreneurs.

TVL has a long history of working with investors and up-and-coming start-ups in Austin. From products commercialized from UT Alumni, to Software, Tech, Virtual Reality, Electronics, Consumer Packaged Goods, Health startups, etc.

The application for the Texas Venture Labs Practicum Spring 2018 class is now open. The deadline to apply for Spring 2018 is October 2, 2017. UT Austin graduate students with a taste for entrepreneurship can apply.

Apply now!

Texas Venture Labs Investment Competition – Fall 2017 – deadline: November 21, 2017

The Texas Venture Labs Investment Competition (TVLIC) is designed to mimic the real-world process of raising venture capital. Graduate students from the University of Texas at Austin present their ideas for new businesses and receive invaluable feedback from entrepreneurs and investors. Many TVLIC competitors go on to launch their businesses. Successful competitors have included uShip, Ordoro and Qcue among others.

Don’t underestimate this opportunity to learn new skills, launch your new business, or expand your career options!

Fall 2016 and Fall 2017 TVLIC Winners ring the bell at Nasdaq

TVLIC gives away more than $58,000 a year in prizes during its fall and spring competitions. The 2017 Fall TVLIC will be held on Friday, December 1, 2017. The application is now open. The last day to submit an application is November 21, 2017. For questions, please see the Rules and FAQs.

Apply now!

Announcing Fall 2017 TVL Accelerator Companies!

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Please join us in welcoming the latest TVL Accelerator cohort.

Jon Brumley Texas Venture Labs (TVL) is pleased to announce the following companies for the Fall 2017 TVL Accelerator. Take a moment to explore this promising group spanning healthcare, technology, consumer, and business services. The TVL Practicum students will hit the ground running on Monday Sept. 11 to work with the companies in preparation of Venture Expo on December 7.

Click on the logos to learn more about each company and past Alumni TVL Companies.


Digital analytics technology allows outdoor advertisers to calculate ROI by correlating source views to in-store and online impressions. (Rebrand from Ads for the Road)

Mobile, Artificial Intelligence (AI) platform that powers farm-to-table, allowing restaurants and buyers to find and purchase with ease.

Brand-controlled marketplace and retail locator providing website sales conversions, customer engagement, and advertising.


Group-messaging + location-sharing app where close friends can stay in the loop while earning rewards just for spending time together.



Patented eyewear, utilizing micro-thin, flexible and unbreakable technology for comfort under helmets or aviation-style headsets.



Health network solution leveraging customized data collection at the lower level, to spur efficiency and efficacy evaluations.


Patent pending, intrauterine technology add-on to current intrauterine devices (IUDs) solving the medical and monetary issues of device expulsion and rejection during the first 4 weeks after a woman gives birth to a child.

Universal, crowdfunding platform, consolidates investment opportunities from platforms around the world, tailoring investments to investor interests and goals.


Patented, first whole animal (in vivo), high throughput and high content drug screening platform.



Mobile commerce marketplace that streamlines on-demand service, operations, and creates personalized customer experiences in one interconnected system.



Identity Platform for the Future of Work – ‘Human capital DMP’ focused on the secure management of documents and data related to employment.




Augmented Reality (AR) and Virtual Reality (VR) solution, creating immersive data collecting experiences for Stadiums, Brands and Venues.



Real-time collaboration and multimedia platform built for the technical and creative needs of writers.



Specialty Outstanding Food Innovation (SOFI) award winner, healthy, gluten free and versatile Latin American food product line, poised for expansion into hotels, restaurants and international distribution.


Are you an Austin company with the next great idea? Join our free, no cash, no equity, gratis accelerator and get a curated group of great grad students working to support getting you funded today!


TVLIC Winners Open Nasdaq

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2017 Nasdaq Open

TVLIC winners open Nasdaq on August 9, 2017

On August 9, 2017, the winners of the Fall 2016 and Spring 2017 Texas Venture Labs Investment Competition rang the opening bell at Nasdaq in New York City.  SandBox Semiconductors and NovoThelium were 2 of 45 teams that competed in this year’s competitions.  Lauren Cornell and Bianca Cerqueira, founders of NovoThelium, and Meghali Chopra, CEO of SandBox Semiconductor shared the podium.

Sandbox Semiconductor‘s patent-pending technology, Recipe Optimization for Deposition and Etching (“RODEo”) uses kinetic process models and statistical analysis to reduce time and cost of microchip fabrication by a factor of three compared to industry standards. Our mission is to build the best software tools for semiconductor process development.

NovoThelium has developed a technology that enables women to regenerate a nipple made from their own cells after a mastectomy. The technology preserves the unique native proteins and complex submicron level tissue architecture of the nipple. The technology can be applied to current or past nipple reconstructions.

Watch the opening here.