Cambridge, MA, February 13, 2008 --(PR.com
)-- uProdigy today announced that it is the winner of the world renown business competition, the MIT $100K ESC, in recognition for its high-quality online tutoring services to American college students.
The winners of the ESC competition were announced Friday at the Business Plan Competition kick off held at the Strata Center. Eight student-managed companies were selected from over 100 entries and were awarded cash prizes.
"The MIT award recognizes the important social impact uProdigy can make by delivering quality and affordable academic tutoring services to students in need," said Syed Adil Hussain, CEO of uProdigy and a graduate student on leave at Harvard University. "I started this company because as an undergrad student, I could never afford the $60-$70 normally charged for help in higher-level math and wanted to help others in my situation."
uProdigy was selected by a panel of judges from the MIT and Boston venture communities including veteran entrepreneurs, venture capitalists and non-profit founders. Judges were asked to select business plans that showed high growth potential, defensibility from competitors, up-front capital investment, short time-to-market, market leadership potential, stage of idea development, and quality and breadth of team.
The competition, designed to encourage students and researchers to act on their talent and ideas, has produced hundreds of successful ventures since the competition founded in 1990.
As part of it services, uProdigy offers live, around-the-clock homework assistance from highly educated, English-speaking tutors in South Asia.
For more information on uProdigy, visit www.uProdigy.com
Details on the MIT $100K ESC award are available at http://www.mit100k.org/