The Purdue-IU team created the technology as part of Purdue's Biomedship entrepreneurship program, established a limited liability company, and have licensed the technology from Purdue's Office of Technology Commercialization. In addition to working with the Purdue's biomedical engineering program, Krannert School of Management and Biomedship program, they collaborated with a diabetes specialist at IU's School of Medicine, she said. The Rose-Hulman Ventures Lab in Terre Haute, Ind., created the prototype to the student's specifications.

"As graduate students with limited financial resources, it's difficult to get the money to start a business," Bartlett said. "Because of this once-in-a-lifetime opportunity for a hands-on education we decided to take a gamble and take out student loans to pay for the prototype. This win means we can continue pursuing the dream to be entrepreneurs."

Good luck, Rush, Peter, and Art!