LOS ANGELES--(BUSINESS WIRE)--Pepperdine University Executive MBA students Pratish Shah and Froi Lomotan won the $15,000 grand prize at the Fifth Annual Pepperdine University 2009 Business Plan Competition (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fbschool.pepperdine.edu%2Fstudents%2Fbplan%2F%29%2C&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fbschool.pepperdine.edu%2Fstudents%2Fbplan%2F%29%2C&index=1 held Saturday, March 14, and sponsored by Santa Barbara Bank & Trust. The team's proposal for their start-up venture Locaxion, specializing in GPS-enabled smart phone applications for golfers, triumphed among the event's four finalists.

San Jose, CA-based Locaxion recently launched AirVue Golf (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.airvuegolf.com%2F%29%2C&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fwww.airvuegolf.com%2F%29%2C&index=2 an app for Apple's iPhone. The satellite rangefinder software enables golfers to accurately measure distances to any point on the green and see those distances directly on a satellite image. Golfers can purchase dedicated electronic devices that accomplish the same, but those devices can run $400 or more. The fact that AirVue can be downloaded and run on the golfer's existing mobile phone equates to substantial savings and convenience.

Judging the competition were a panel of seasoned entrepreneurs and investment professionals, which included Mark Miller, Managing Member, Miller Family Holdings LLC (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.manta.com%2Fcoms2%2Fdnbcompany_dk43qr%29%3B&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fwww.manta.com%2Fcoms2%2Fdnbcompany_dk43qr%29%3B&index=3 Don Oparah, Founding Director, Venture Acceleration Initiative (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.vai.ucsb.edu%2F%29%3B&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fwww.vai.ucsb.edu%2F%29%3B&index=4 John Rehfeld, Orange County Chairman for the Forum for Corporate Directors (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.fcdoc.org%2F%29%3B&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fwww.fcdoc.org%2F%29%3B&index=5 and John Shields, Chairman Emeritus, Trader Joe's Company (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.traderjoes.com&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fwww.traderjoes.com&index=6).

Entrepreneurs Pratish Shah and Froi Lomotan are currently enrolled in the Executive MBA program offered by Pepperdine University's Graziadio School of Business and Management in Santa Clara, CA.

In total the business plan competition awarded $26,000 between the four finalist teams and the recipient of Pepperdine's Socially Minded Entrepreneur Award. Details are available on Pepperdine University's Graziadio School of Business and Management website at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fbschool.pepperdine.edu%2Fpressroom%2F%3Fp%3D1255&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fbschool.pepperdine.edu%2Fpressroom%2F%3Fp%3D1255&index=7.

About the Competition

Advised by Doug Howe, Practitioner Faculty of Entrepreneurship, the Pepperdine University 2009 Business Plan Competition challenges students from all of Pepperdine's colleges and graduate schools to compete for financing toward an existing or proposed start-up venture, which is judged in elimination rounds by venture capitalists, entrepreneurs and faculty members. Founded in 2004 by the Malibu Graduate Business Society, the Full-time MBA program student government association for the Graziadio School of Business and Management, in association with the Entrepreneur Club, the competition provides a forum for entrepreneurial ideas and ventures to be realized with the support and resources of the entire Pepperdine community.

About the Graziadio School of Business and Management

Founded on the core values of integrity, stewardship, courage, and compassion, Pepperdine University's Graziadio School of Business and Management (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fbschool.pepperdine.edu%2F&esheet=5919415&lan=en_US&anchor=http%3A%2F%2Fbschool.pepperdine.edu&index=8) has been developing values-centered leaders and advancing responsible business practice since 1969. Our portfolio of fully accredited MBA, Master of Science, and bachelor's completion business programs provide personalized attention in an intimate setting, emphasis on applied and relevant business practices, and the convenience of five campus locations throughout Southern California. With an alumni network of more than 32,000 business professionals, the Graziadio School delivers superior quality of experience, depth of knowledge and flexibility for professionals continuing their education as full-time students, fully-employed degree recipients and senior executives.

Contacts

Pepperdine University Graziadio School of Business and Management
Douglass Gore, Director of Public Relations
Phone: (310) 568-5580
GraziadioPR@pepperdine.edu