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Loyola business students named finalists in world competition

Loyola press release - June 28, 2006

(New Orleans)-- A team of three undergraduates from Loyola University New Orleans was selected as one of six finalists in the Lee Kuan Yew Global Business Plan Competition, which is sponsored by the Singapore Management University. The competition brings together teams from universities from around the world to compete for prizes based on plans for an original start-up or early stage venture. Loyola team members include Jeffrey Doussan, the team's leader, Khalil Bou-Mikael, and Summer Veatch. The team stands to win up to a total of $20,000 in prize money when they make their presentation to the panel of international judges at the finals for the competition, which will take place in Singapore, July 18 – 20, 2006.

Loyola’s team, called RealSNAP Backup, Inc., was the only team from the United States to advance to the finals. The other finalists are from Canada, China, and Singapore. The students originally wrote their business plan, entitled "RealSNAP Backup," for their Global Startups class this past spring. After their project was considered by a panel of external reviewers as the best submission in the class, they submitted it to the competition. Joseph Ganitsky, Ph.D., former professor and chair of the international business area, is a co-supervisor of the team with Doug Moore, a member of the business college's international business advisory board and former president and owner of Petrotech, Inc.

The business plan proposes an enterprise to provide safe location data backup services for companies large enough to require servers but too small to afford or manage the high-end/high cost technology that large companies use. The proposed technology reportedly has been proof-of-concept tested, and offers most of the advantages of supersystems at far lower cost and client IT resources. For example, the technology provides a proprietary electronic package to the customer with preloaded software that identifies and gathers changed data and transmits it to the safe location at low off-peak rates. Some places where this technology would be particularly useful include New Orleans, due to hurricanes, and Singapore, due to tsunamis.

This is the third biennial Lee Kuan Yew Global Business Plan Competition, named after Singapore's Minister Mentor, acknowledged as a thinker and a global visionary. Doussan, Bou-Mikael, and Veatch are all from the Greater New Orleans area and are Spring 2006 graduates from the Loyola University New Orleans College of Business. Doussan completed his major in management with an entrepreneurship minor. Veatch completed a double major in international business and management. Bou-Mikael completed a major in international business.

For more information about the competition, please visit http://www.smu.edu.sg/lky/. For more information about the team, please contact the Office of Public Affairs at (504) 861-5888.

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