Rady School Startup Team, CB Therapeutics, Wins Big at 2015 TriNet Challenge
CB Therapeutics from the Rady School placed first at the fourth annual Triton Innovation Challenge (TriNet) in early December 2015, securing $6,000 in funding. The TriNet Challenge was sponsored by the Rady School of Management, Jacobs School of Engineering and Scripps Institution of Oceanography. Presented by Rady student Sher Butt, CB Therapeutics, a StartR Accelerator graduate, uses biosynthesis to extract rare cannabinoids in a more economical and efficient process than current methods. The cannabinoids can then be used for multiple purposes, and marketed to drug companies and consumers alike.
Also among the TriNet Challenge winners were, Bior’ Wrapp, who won second place and $3,000 for their product, a functional seaweed-based two-layer protective coating formulated to increase the shelf life of fruits, vegetables and meat products. BioMarine Surfactants, who created a new class of bio-inspired surfactant that has applications in everything from detergent additives, textiles, oil and gas, took third place and a cash prize of $1,500. In addition, the $500 audience prize was awarded to CB Therapeutics.
Other finalists included ChaiBrew, another Rady School and StartR company and Silthr Electric Vehicles.
The TriNet Challenge is an annual competition open to all students, faculty and staff of UC San Diego with a commercially viable, environmentally focused product or business idea at any stage of development. This year, of the 27 applicants, 10 were selected as semifinalists and partnered with mentors to improve their product, market and business concept. These 10 teams then presented their products to a panel of judges, who selected five finalists to present in front of the UC San Diego and local business communities.
The TriNet Challenge was funded in part by the The William and Kathryn Scripps Family Foundation, and awarded a total of $11,000 in cash prizes, as well as von Liebig Business and Technology mentoring. All finalists were also eligible to apply for up to $300,000 in funding from the Triton Technology Fund and the Rady Venture Fund.
For a social media recap of the event click https://storify.com/RadySchool/2015-trinet-challenge-recap.