April 29, 2004
Aspiring entrepreneurs showcase diverse business plans at UW competition
Water chemistry monitoring devices for aquariums and spas. Ergonomically-adjustable bicycle seats. A drug that prevents Alzheimer’s disease. Educational software for autistic children.
These are a few of the business concepts proposed by students and approved of by mock financiers during the investment round of the UW Business School’s Center for Technology Entrepreneurship (CTE) Business Plan Competition.
During the investment round, held Tuesday in the ballroom of the HUB, teams pitched their ideas to 119 judges, including angel investors, entrepreneurs, lawyers and venture capitalists. The judges each had $1,000 in “CTE dollars” to invest in what they considered the most feasible companies. Judges eliminated half of the 32 teams. The remaining 16 teams now have two weeks to regroup, make any necessary changes to their presentations and then compete for a chance to snag the $25,000 grand prize.
The long presentation and final rounds take place between 8 a.m. and 5:30 p.m. on Monday, May 17, in the HUB Auditorium. The public is welcome to attend the final round, between 1:30 and 4:30 p.m.
An additional seven prizes will be awarded to teams presenting the best ideas in e-commerce and international and sustainable businesses. With $82,000 to be distributed among this year’s winners, the competition awards one of the largest amounts in seed funding of any similar event in the country.
Business proposals this year range from sating appetites to annihilating Alzheimer’s disease, a neurological disorder that causes memory deterioration and affects 4.5 million Americans.
Students from Gonzaga University, Seattle University, the UW and Washington State University participated in the investment round but only two non-UW teams — Gonazaga’s Game Energy and Judama Technology LLC of WSU — will advance to the sweet 16.
Past winners include NanoString, creators of a company that will broaden advances in genome science, and Cogelix, engineers of a less-invasive radiation cancer treatment that doesn’t damage healthy surrounding tissue. In the past six years, the UW Business Plan Competition has awarded nearly $500,000 in prize money and legal services.
Sponsors include Ernst and Young, Herbert B. Jones Foundation, Northwest Entrepreneur Network and Voyager Capital.
For more information about the UW’s Business Plan Competition visit http://depts.washington.edu/cte/bplan_comp.shtml.
The following 16 finalists will advance to the competition’s long presentation round:
• AquaStasis, creators of water chemistry monitoring devices for aquariums, pools, hot-tubs and spas.
• CellVitro Technologies, accelerating drug discoveries.
• Complianz, a company that enables biomedical manufacturers to develop internationally compliant products.
• Game Energy, providers of gaming services for mobile phone users.
• Inputex, improving user interfaces for electronic devices.
• IntellectSpace Corporation, information retrieval and visualization solutions.
• Judama Technology LLC, makers of ergonomically-adjustable bicycle seats.
• Kotis Design, creators of custom apparel and accessories for university Greek systems.
• MyStyle, designers of custom-made apparel for uniquely shaped women.
• OGear, makers of illuminated gear for bicyclists and road construction crews.
• Precis, providers of computing systems to industrial and university biologists for modeling and simulating cell systems.
• Promentix, drug discovery firm that will introduce a treatment for Alzheimer’s disease.
• SeaTrails, providers of comprehensive maps for outdoor adventurers.
• Teachtown, creators of educational software for autistic children.
• UltimateSchool Software, creators of software that encourages interactive classrooms and aids in K-12 instruction.
• WonderChess, producers of chess games for children that are full of surprise treats and prizes to encourage interest in the game of chess and its intellectual benefits to players.
