U of A Team Wins $20,000 for Cycling Innovation at Canadian Business Plan Competition

Photo Submitted New Venture Development instructors and UNCL team members pose with their winnings at the Ivey Business Plan Competition in Ontario, Canada. From left: David Hinton, Michael Burton, Clayton Woodruff, Payton Lenz and Sarah Goforth. A graduate student entrepreneurship team from the U of A won first place in Canada’s prestigious Ivey Business Plan Competition , securing $20,000 to put toward their innovative solution of deterring bicycle theft without the need for a bike lock. UNCL Co., short for Universal Network Controlled Lock, is an app-enabled security device that retrofits to public bike racks, allowing riders to secure and monitor their bike without the burden of carrying a heavy lock. UNCL is the third U of A team to win the competition, held this year from Jan. 20-21 at the Morrissette Institute for Entrepreneurship at the University of Western Ontario. Previous U of A winners include Learning DifferentiatED and Picasolar in 2012 and 2013, respectively. UNCL emerged from the New Venture Development course sequence in the Sam M. Walton College of Business . The team formed when the four co-founders met in the NVD class, where CEO Michael Burton recruited them to work on his idea for a […]

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