A Massachusetts Institute of Technology student who created a medical device for detecting malaria took home the $75,000 top prize in this year’s Cupid’s Cup competition.
But Disease Diagnostic Group, as The Daily Record reports, won more than first place:
Under Armour Inc. CEO Kevin Plank, who founded the University of Maryland’s annual competition nine years ago, offered Disease Diagnostic Group an extra $25,000 in exchange for an equity stake in the company.
Disease Diagnostic Group, which makes an inexpensive handheld device that can diagnose malaria in 60 seconds, accepted the offer. Plank’s Cupid Foundation, which funds the competition, will hold the equity.