Mayank Nath, a University of Bridgeport student-entrepreneur who created an app that transfers money at lightning-fast speed, has won the Best Venture Enterprise Award at the CT Business Plan Competition. The prize consisted of $1,000 in cash plus $2,500 in legal services from the law firm Wiggin & Dana, which has an office in Stamford.
Three other awards went to UB students. Ten teams from five different Connecticut universities competed.
While Nath’s app, called LendR, transfers money in seconds, it also would allow lower fees and beefed-up cybersecurity designed to better protect consumers’ data.
Nath is an MBA candidate at UB’s Ernest C. Trefz School of Business. He was advised by Jim Dougherty and Dorian Yanez, entrepreneurs-in-residence at UB’s Student Entrepreneur Center.
UB student James Marquis received a $500 second place award in the Best Business Plan Venture Enterprise category for GS Thermal Solutions, a patented programmable indoor plant-light growing system.
The Best Written Executive Summary Award of $500 went to Mahmoud Morshedy for Immersive Shift Labs, a medical-imaging device that uses holographic visualization and mixed reality.
The Best Social Enterprise Prize, also $500, was awarded to UB engineering students Dan Tenney, Sree Veena Venigalla, and Charnjit Sing for KidWatch, a GPS tracking system designed to locate missing children.