Poppet wins $5,000 for plan to develop single-use infant beverage closure incorporating a sterile infant nipple
Graduate students from Swinburne University of Technology (Australia) received the Licensing Executives Society International’s (LESI) prestigious Global Award for their plan to bring safe, ready-to-drink infant beverages to the globe using a revolutionary packaging system.
Poppet International is a development company specializing in patented, technology-based manufacturing solutions that will bring single use ready-to-drink infant beverages to the world in sterile, recyclable baby bottles. Each bottle is equipped with a revolutionary molded plastic closure, which when snapped off exposes a safe, recyclable nipple that is specially designed to allow for accurate flow control.
“There is a huge international market for ready-to drink long-life infant formulas, sterile water, rehydration drinks, infant suitable juices and vaccines,” said Peter Bares managing director. “In fact, estimates show there is demand for in excess of two billion infant beverages closures per year in the developed world, capable of a growth pattern mimicking the spectacular rise in the sales of pull-up sports bottle closures. Our concept will not only help busy parents, but also hospitals, day-care centers and other child care facilities.”
Poppet was one of five student teams that competed in the Final Round of the LES Foundation’s 2009 International Graduate Student Business Plan Competition.
Now in its 6th year, this intellectual property (IP)-focused Competition not only simulates a real-world venture capital experience for students, but also provides them with a competitive advantage through educational offerings, valuable industry networking opportunities and mentoring from LES and LESI members.
Each year, LESI presents its Global Award and a $5,000 cash prize to the team whose plan best deals with IP rights and their use in the global business environment.
This is the second consecutive win for Swinburne University of Technology.
“We are very happy to continue to support the international component of this great competition,” said Adam Liberman, LESI President. “These students are not only the future of LES as a worldwide organization, but also the future so far as the business of IP is concerned, in whatever industry they ultimately join.”
The Grand Prize winner of this year’s LES Foundation Graduate Student Business Plan Competition was Pax Neuroscience Inc., from the University of Illinois-Chicago for their plan to leverage groundbreaking biotechnology to better understand, diagnosis and treat depression.
In addition to a $10,000 cash prize, the Pax team will receive in-kind prizes worth up to $50,000 from Knobbe Martens Olson & Bear; Finnegan, Henderson, Farabow, Garrett & Dunner; and, 24IP Law Group.
The Competition also saw support this year from the Montreal law firm BCF LLP (Avocats) and from the Kauffman Foundation.
LES Foundation Competition runner-up teams each won $1,000, including:
- CounselLink Pty Ltd., from Swinburne University of Technology (Australia);
- Ground Up Biosolutions, LLC from the University of Arkansas (USA); and,
- PassPro-tech™ from the University of Texas at Dallas (USA).
This year, nearly 60 business plans were submitted from around the world, up from 8 entries in 2007. The plans were assessed on a variety of factors including quality of the IP and licensing component, attractiveness of the venture, quality of the product or service offered, market opportunity and investment potential.v
