Indian American wins Wharton School award

New York, April 26 (IANS) ZenKars, a venture of an Indian American and his friend, won the 2013 Perlman Prize at the 2013 Wharton Business Plan Competition.

Awarded by the Wharton School of the University of Pennsylvania, the award also carries a cash prize of $30,000, according to a statement issued out of Philadelphia.

Founded by the student team of Indian American Venkat Jonnala and Jean-Mathieu Chabas, ZenKars is an online model connecting used cars from corporate directly to consumers targeting a $600-billion market.

"Their 'peaceful buying experience' for the buyer offers competitive prices, detailed vehicle information, convenience and warrantees," the statement said.

Jonnala and Chabas, both second year MBA students, met via Facebook while looking for roommates in Philadelphia and soon started floating entrepreneurial ideas and hit on ZenKars.

Their idea was accepted by DreamIt Ventures, which then gave them additional seed-funding.

ZenKars also won the Committee's Choice Award.

The Venture Finals is the final event of the year-long Wharton Business Plan Competition.