PHOENIX--(BUSINESS WIRE)--Avnet (NYSE: AVT), a leading global technology distributor, in partnership with Arizona State University’s Ira A. Fulton Schools of Engineering, today announced Hoolest Performance Technologies as the winning team of the second annual ASU Innovation Open (ASUio). Avnet’s support for the competition demonstrates the company’s commitment to guiding today’s ideas into tomorrow’s technology. The final round of the 2018 ASUio was held at the Fairmont Scottsdale Princess on Friday, Feb. 2.
Following three rounds of competition, Avnet awarded Hoolest $100,000 for their development of a new technology that controls the body’s stress response and optimizes brain function. The ASUio is the largest student venture competition in the southwestern United States. University students from across the nation and from all disciplines participate in a series of competitive rounds to showcase the power of entrepreneurship in tackling the world’s most challenging problems.
“All of the finalists exemplify the entrepreneurship, creativity and talent that is at the core of the ASU Innovation Open. This competition underscores how Avnet supports technology from idea to design to production,” said Bill Amelio, Avnet CEO. “Avnet is proud to recognize Hoolest Performance Technologies with the grand prize, and we look forward to seeing continued innovation from each of the teams as they develop into the engineers of tomorrow.”
During the competition, teams are tasked with developing a business venture powered by innovative hardware technologies. The 2018 ASUio finalists included:
- AirGarage developed an online community marketplace for people to list, find and book convenient and affordable parking around the world from their mobile phone or tablet
- Bloomer Tech incorporated biometric sensors in ordinary clothing to collect extraordinary data about women’s heart health
- Hoolest Performance Technologies developed a new technology that controls the body’s stress response and optimizes brain function
- Hygiea created a system to boost efficiency and save resources by monitoring the level of trash in any given can, using analytic solutions to know how frequently and quickly a certain can gets full
- W8X developed connected fitness equipment for more effective and engaging strength training workouts
“One vital element that separates the ASU Innovation Open from a field of college innovation and entrepreneurial challenges is that Avnet’s sponsorship means more than a $100,000 prize, although that’s a wonderful incentive,” said Fulton Schools of Engineering Dean Kyle Squires. “Our partnership with Avnet means that all of the finalists, not just the winning team, benefit from Avnet’s broad platform of resources – from business and marketing guidance to access to supply chain and technology solutions. Avnet brings to the competition the same entrepreneurial mindset that we value here at ASU.”
In addition to Avnet’s $100,000 grand prize, several other sponsors for the 2018 ASUio offered support for the winners and finalists, including: ON Semiconductor, who honored Bloomer Tech with $25,000; Salt River Project (SRP), who awarded $20,000 to Air Garage; and Zero Mass Water and Hool Coury Law, who collectively provided each finalist with $10,000. All of the finalists are under consideration to receive support from the ASU Innovation Lab as they continue to develop their technologies.
Click to Tweet: .@Avnet congratulates @TheHoolest, winner of the 2018 #ASUio $100K grand prize. Learn more about this standout performance-enhancing technology, as well as this year’s four runners-up, at http://winasu.io #ReachFurther http://bit.ly/1ll33LR
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