FAYETTEVILLE, Ark. – A student business plan competition team from the Sam M. Walton College of Business at the University of Arkansas won the MIT Enterprise Forum of New York City prize for the “Most Innovative Technology” at the Pace Pitch Contest at Pace University in New York City on Dec. 3, 2009.

The team, Tears for Life, took home $2,500 to add to the more than $90,000 they have won in business plan competitions throughout the country over the past year. Their plan for marketing a test using women’s tears to detect breast cancer garnered recognition in competitions from Las Vegas to Austin, Texas, to Cincinnati, Ohio.

Faculty mentor and management professor Carol Reeves said, “The Tears of Life team has exceeded all expectations for a student business plan. Just at the Pace Pitch Contest, they competed against teams from top business schools such as Columbia University, Harvard University, MIT, Pace University, University of Maryland, University of Pennsylvania, Fordham University, Johns Hopkins University and Brown University. The Walton College has shown how nationally competitive it can be.”

Team members include Bessie Williams and Jared Greer, 2009 Walton College M.B.A. graduates, and Jordan Greer, a 2009 Honors College graduate. Williams is currently a sourcing manager for Alcoa where she manages the entire supply chain of a $150 million annual spend. Her responsibilities include crafting and implementing strategic sourcing strategies for 21 business units across North America. Jared Greer is a professional health care representative for Pfizer where he is responsible for developing relationships with key medical professionals such as physicians, pharmacists and nurses in northwest Arkansas. Jordan Greer is an account representative for PDI Pharmaceuticals in northwest Arkansas.

The MIT Enterprise Forum Inc. builds connections to technology entrepreneurs and to the communities in which they reside. The Enterprise Forum produces a series of educational programs about entrepreneurship through a network of 24 worldwide chapters.

In addition, in its December 28, 2009 “Best & Worst of 2009” article, the editors of the Northwest Arkansas Business Journal selected the Tears for Life team for “Best Innovation”. Here is a list of previous wins by the Tears for Life team over the last year:

First place graduate ($25,000) – Donald W. Reynolds Tri-State Cup, Las Vegas, Nev., May 27.

First runner-up ($5,000) and Most Outstanding Presentation – Global Moot Corp Competition, University of Texas, Austin, Texas, May 9.

First place Business Innovation ($20,000) – Tulane University Business Plan Competition, New Orleans, La., April 10.

First place graduate ($20,000) and Innovation Award ($5,000) – Donald W. Reynolds Arkansas Governor’s Cup, Little Rock, Ark., April 28.

First Place ($10,000) and Best Exhibitor Award ($250)– University of Cincinnati Spirit of Enterprise Graduate Business Plan Competition, Cincinnati, Ohio, Feb. 27.

First Place, Fast Pitch Competition ($1,500) – University of Louisville Cardinal Challenge, Louisville, Kentucky, February 21.