The 2007 McGinnis Venture Competition at Carnegie Mellon was an eye-opening and rewarding experience for the Flex ’07 team Parichute. This year’s entry in the technology track, Parichute is an online solution for pari-mutuel wagering by horserace enthusiasts. The team includes Derek Ladd, Marcos Santos-Rivera, Ravi Adusumilli, Kristin Baird, Sriram Srinivasan, and Govind Krishnamurthi.
Parichute is a web-based solution that enables decision support, fingertip access to the factors affecting wager decisions, and dynamic performance measurement and analysis. Competing against top business schools both domestic and international, Parichute reached a bitter-sweet ending in Pittsburgh. Although the team competed well, an outlying low score from one judge prevented Parichute from reaching the final round.
The University of Texas ultimately took home the trophy yet the Rady venture received strong praise from fellow competitors and faculty, solidifying Rady as a competitive top-tier institution. Today, the team is moving forward with the venture and hopes to launch a live product by year end.
Shown above is Parichute with AlisTech in Pittsburgh. Marcos Rivera ‘07 contributed to this post.