Ten teams of entrepreneurs competed for $10,000 Friday. It's part of Texas Tech's iLaunch program at its Innovation Hub, designed to identify, grow and launch start-up businesses.
It's similar to "Shark Tank". The teams pitch their ideas and convince investors to choose them.
"This is the American Dream," said Kimberly Gramm, managing director of the Innovation Hub. "People have ideas, they're trying to solve problems or pain points in the marketplace, and to launch them is a tough thing to do. Our community sort of gives hugs to entrepreneurs, gives them some resources, to get them to jumpstart their ideas."
The competition's winner was PCOS Innovations. It's led by an instructor at the Texas Tech Health Sciences Center. The project will develop a research-based app to help women diagnosed with polycystic ovary syndrome.