Aspiring Entrepreneurs Compete for Seed Money

Pictured from left, William R. Berkley (Stern ’66), chairman of the Stern School of Business Board of Overseers and NYU Trustee, awards the Ira Rennert Entrepreneurial Prize of $50,000 to Adam Simon, Scott Varland and Michael Dory of the Interactive Telecommunications Program in the Tisch School of the Arts, and Stern alumnus Mihir Dange (BS ’01). The winners’ venture idea, Socialbomb, Inc., is revolutionizing the gaming industry by tapping into existing information on social networks, such as Facebook and MySpace, to provide players with entertainment that operates on iPhones, Blackberrys, and specially designed keyfobs.

    Social enterprise teams Naya Jeevan for Kids (NJFK) and Madécasse, both of which pursue social impact and financial
sustainability or profitability, shared the Stewart Satter Family Prize of $100,000. NJFK is dedicated to providing families in the developing world with access to health care, covering acute health-related events, and Madécasse imports specialty food products, such as premium chocolate bars, both grown and manufactured in Madagascar. The competition is managed by Stern’s Berkley Center for Entrepreneurial Studies