Rice Business Plan Competition awards total of $2.9 million to student startups

Vita Inclinata Technologies accepts a cash prize at the Rice Business Plan Competition. Vita Inclinata Technologies accepts a cash prize at the Rice Business Plan Competition. Photo: Photo Courtesy Of Rice University Photo: Photo Courtesy Of Rice University Image 1 of / 1 Caption Close Rice Business Plan Competition awards total of $2.9 million to student startups 1 / 1 Back to Gallery

Rice University's student startup competition awarded a total of $2.9 million to 42 competitors over the weekend at its annual business plan competition.

It was the most money ever awarded at the competition, which is in its 18th year. A team from Mitchell Hamline School of Law in St. Paul, Minn., won first place at the competition.

The team, Vita Inclinata Technologies, a startup developing technology for sling-load and rescue helicopter operations, took home a nearly $700,000 cash prize.

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Each of the 42 competing teams took home a cash prize of at least $500. The prizes were presented at a banquet at the Westin Galleria, concluding a three-day event that began April 4.