Revolutionary Translation Software Wins Utah Entrepreneur Challenge

SALT LAKE CITY, May 16/PRNewswire/ — With a cutting-edge, translation software design and a check for $40,000, University of Utah MBA student Timothy Hunt”s TermSeek is well on its way to becoming a successful business as the winner of the 2001 Utah Entrepreneur Challenge (UEC). A tie for second place was awarded to BYU”s PermaCell (a two-year life battery) and the University of Utah”s Grassoap (an herbal hand soap designed for use in heavy industry) at the 2001 UEC Awards Banquet held at Rice Eccles Stadium, last night.

TermSeek beat out more than 200 registered competing teams in the year-long student business plan competition. “TermSeek”s language software combines the computer”s ability for speed with the human”s ability to understand,” Hunt said. The software doubles the average translator”s speed and productivity. With $40,000 in his pocket and sponsored services, TermSeek has the resources to bring this technology to market.

In a last-minute change of plans, the Challenge awarded two second-place awards of $15,000, instead of a $20,000 second-place and a $10,000 third-place cash prize. Of the two second-place winners, PermaCell is a revolutionary battery using radioisotope and solar cell technologies powering a cell phone for over two years. Grassoap boasts of a patent pending saponification and reduction reaction to create the heavy industry, hand soap, Mow-jo, which removes grease, oil, and heals common skin problems.

The UEC, which is ending its second year, presents students the opportunity to learn the principles of entrepreneurship and provide access to mentors, resources, education, funding, and interaction with industry leaders. Winning teams are awarded $70,000 in start-up cash and over $100,000 worth of in-kind services. With preparations for its third year underway, no other college business plan competition in the nation offers as much as the UEC.

“Entrepreneurship is a great opportunity to learn business in a comprehensive way, “said Jack Brittain, dean of the David Eccles School of Business. “The UEC is preparing students to be future leaders and entrepreneurs.”