In the upcoming Rice Business Plan Competition at Rice University, Tembo Education will compete against 41 student companies for $1 million worth of prizes.
Founded by University of Tampa alumni, Tembo Education is a student startup company that seeks to provide early childhood education to poor areas through the use of cellular phones. The company was a finalist for last year’s Clinton Global Initiative Hult Prize.
Competitors have been chosen from almost 400 applicants within the four categories of life sciences, information technology, energy/sustainability, and products and services dedicated to others. The winner of the competition will be chosen according to the best representation of investment opportunity.
“The true measure of success for the Rice Business Plan Competition is the number of teams that launch, raise funding and go on to succeed in their business,”
Brad Burke, the managing director of the Rice Alliance for Technology and Entrepreneurship, said.
The grand prize for the upcoming competition is over $450,000, as well as seed funding and the chance to ring NASDAQ’s closing bell.