Date: May 07, 2012 Source: (
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NuMat Technologies from Northwestern University won the 29th Global Venture Labs Investment Competition.
NuMat defeated 37 teams from top MBA programs worldwide.
The competition was held last week at the University of Texas at Austin's McCombs School of Business.
NuMat Technologies designs and creates high-performance materials to store clean fuels and produce them on a large scale for industry.
The NuMat Technologies team, Chris Wilmer and Tabrez Ebrahim, won a $135,000 package including Austin Technology Incubator office space, mentoring and consulting services; a full-page ad in Inc. magazine; $25,000 worth of consulting with the McCombs entrepreneurship faculty; and cash. The winning team will also close the NASDAQ Stock Market on July 27th.
NuMat Technologies' COO Tabrez Ebrahim received his B.S. in Mechanical Engineering from the university's Cockrell School of Engineering. Ebrahim has also worked with cleantech startups at the Austin Technology Incubator, which has helped 200-plus startups raise over $1 billion in capital.
