Haverhill Incorporated, founded last fall by Alison Cariati and Haverhill Leach, was declared the winner in the Entrepreneur Track of the competition at a special awards ceremony at The Garage, an economic development event hosted by the Greater Providence Chamber of Commerce at the Rhode Island Convention Center.

In addition to being named track winner, the Haverhill team was awarded a bonus of $30,000 in cash, for a total of $45,000 in cash and $24,000 in professional and consulting services.

Cariati, CEO of Haverhill, said the company plans to use the funds to rent office space, purchase computer equipment, and defray costs for launching its product line.

Describing the opportunity for her company, Cariati said, “We polled women who currently own and purchase jewelry and found a consistent response: lack of enthusiasm for selection of style at accessible price points. We found women are seeking fine jewelry as versatile, statement accessories.”

Named Student track winner was Azavy, which is creating an online store for 3D printed goods that crowd-sources manufacturing, enabling consumers to buy products designed and 3D printed by users. Tyler Benster, a senior undergraduate majoring in applied mathematics and economics at Brown University, is leading the team, which includes Michael Anderson, a senior at Yale University, and Mark Fischer, a senior at Northwestern University.

Winning the Technology Special Award was TennisHub, an emerging Providence-based company led by President Eddie Ross that has developed an online bookings and payments system that connects tennis players with opportunities to play at commercial courts. The product it has created-a highly scalable software as a service (SAAS)-helps tennis businesses grow by enabling them to sell unused court time and operate more efficiently.

The Student track and Technology winners each received $15,000 in cash and services valued at $24,000.

Finalist in the Entrepreneur track was EndoSphere Surgical, Inc., a Newton, Mass., company led by Mel Prenovitz that is developing a method to reposition laparoscopic surgical tools to make laparoscopic procedures easier, faster, and safer to perform.

Finalists in the Student track were:

• Fashion Force, a company developed by Bryant University senior Melissa Ellard that will provide an online trade show alternative to connect fashion industry manufacturers, wholesalers, and retailers.

• Optitrum, which is making a handheld, non-invasive glucose meter to manage diabetes, led by Jenny Yu, who is studying for a master of science degree in Brown University’s Program in Innovation Management and Entrepreneurship. Also on the team are Xinming Shi, Lu Liu, and Jing Feng, all graduate students at Brown.

Finalists in both tracks received $5,000 in cash and services valued at $9,250

The judges also awarded Fashion Force a “catalyst bonus” of $5,000 cash and $6,500 in services in recognition of the potential impact that the additional awards will have on the company’s ability to achieve near-term market traction.

All prizes were donated by sponsors, which included private companies, professional services firms, investors and banks, foundations, nonprofits, colleges and universities, and public agencies. To be eligible to for prizes, applicants had to agree to establish or maintain operations in Rhode Island.

Competition Co-chair Larry Davidson, principal with the Providence-based accounting firm of Kahn, Litwin, Renza & Co., said, “The winners and finalists all put forward highly promising, high potential ideas for companies that we believe will strengthen the business community in Rhode Island.”

Peggy Farrell, partner in the law of firm of Hinckley, Allen & Snyder and competition co-chair, said, “We’re able to help these emerging companies thanks to the generosity of the dozens of sponsors and supporters who make the competition possible. They understand that emerging businesses need to be nurtured, and we commend them for stepping up to the plate in Rhode Island.”

The 2013 competition attracted 78 business plans that spanned biotech, consumer, health care, Internet, manufacturing, and software, among other, industries.

This year marked the tenth time the competition has been held since it first awarded prizes in 2001. To date, it has awarded more than $1.4 million in prizes.

Ten Business and Community Leaders Served as Judges

Serving as judges in the 2013 competition were the following business and community leaders:

• Larry Davidson, principal, Kahn, Litwin, Renza & Co., Ltd.
• Adriana Dawson, state director, Rhode Island Small Business Development Center
• Margaret Farrell, partner, Hinckley, Allen & Snyder LLP
• Katharine Flynn, director of corporate and foundation relations, University of Rhode Island
• John Groetelaars, president, Davol Inc., a subsidiary of C. R. Bard, Inc.
• Jeff Jefferson, partner, Edwards Wildman & Palmer
• Stephen Lane, co-Founder and CEO, Ximedica
• Sandra Potter, director of the Global Entrepreneurship Program, Bryant University
• Shawn Scott, director of sales and marketing, Collette Vacations
• Christine Smith, director of Innovation Programs, RI Economic Development Corporation

 Sponsors of the 2013 Competition

Lead sponsors of the 2013 competition are Davol Inc., a Bard Company, the Providence Journal Charitable Foundation , and the University of Rhode Island, along with Cumulus Media-Providence (AM 790), Edwards Wildman Palmer LLP, Embolden, Hinckley, Allen & Snyder LLP, and Kahn, Litwin, Renza & Co., Ltd.

Also supporting the competition are Braemar Energy Ventures, Brown University, Bryant University, Greater Providence Chamber of Commerce, Rhode Island Small Business Journal, Bank of America, Business Development Company, Collette Vacations, FM Global, Johnson & Wales University, Point Judith Capital, Providence College, Rhode Island Economic Development Corp., Roger Williams University, and Slater Technology Fund.

Additional support has been provided by Bank Rhode Island, Care New England Health System, Center for Women & Enterprise, Centreville Bank, Cherrystone Angel Group, Citizens Bank of Rhode Island, Deepwater Wind, Dimeo Construction Company, Gilbane Inc., GTECH Corporation, Morgan Stanley Wealth Management, Nortek, Inc., Teknor Apex, The Moore Company, Ximedica, Bank Newport, Freedom National Bank, Hayes & Sherry Real Estate Services, Hope Global, InsureMyTrip.com, JH Lynch & Sons, New England Institute of Technology, ShapeUp, Tech Collective, Betaspring, and Rhode Island Small Business Development Center

About the Competition

Established in 2000, the Rhode Island Business Plan Competition recently was named one of the top 40 business plan competitions in the country. To date, it has awarded more than $1.4 million in prizes to competitors developing companies across many industries.

In addition to awarding prizes, the competition hosts educational events in the months leading up to the application deadline in early April. They include business development, financial planning, and presentation skills workshops. In addition, the competition hosts the annual Rhode Island Elevator Pitch Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.

According to Jim O’Donnell, President of Equity National, lenders working with Equity National will be afforded more extensive protection against defalcation and fraud than they receive when covered only by the traditional CPL.  He notes that defalcation and theft claims, as well as closing instruction violations, are often inadequately covered by CPLs.  Equity ISP™, for example, will cover claims up to three years from the date of closing.  Most CPLs, in contrast, may only be invoked within 30 to 180 days and are non-assignable.  O’Donnell asserts that many closing instruction violations can take years, rather than days, to discover—long after the CPL has lapsed. Similarly, while many defalcation or fraud claims are limited by the standard CPL to “lien-related matters,” Equity ISP™ goes much further.

“We partnered with The Prieston Group on this after seeing a number of lenders experience very real damage where they had mistakenly believed the CPL would protect them,” said O’Donnell.  “Right now, lenders are increasing their expectations of closing agents while the title industry is simultaneously cutting back on what it will cover.   This is the only product out there right now which can address the shortcomings of the CPL to the advantage of lenders. The coverage also follows the loan and is assignable.”

Arthur Prieston, Chairman of The Prieston Group, makes it clear that this product is not for everyone.  “We are extremely cautious about who we do business with,” he said.  “This product is designed to address a much needed protection that has been missing in the industry.  Thus, we demanded a partner in the settlement services industry which uses best practices, has the highest quality of personnel and, quite simply, does business the right way.  Equity National immediately stood out as that partner.”

For more information, go to equitynational.com.

About Equity National
Equity National is a lender service provider located in East Providence, RI and Jacksonville, FL. Founded in 1989, Equity a offers variety of title search, title insurance, loan settlement and valuations services utilizing a nationwide network of real estate appraisers in accordance with Fannie Mae, Freddie Mac, and in compliance with USPAP and FIRREA regulations.  For more information, go to equitynational.com, or call 800.237.8489.

About The Prieston Group
The Prieston Group offers the only fully integrated suite of mortgage fraud protection, mitigation, and indemnification services in the industry. Called TPG Mortgage Assurance Solutions™, these services provide lender due diligence and data integrity, fraud loss insurance and repurchase protection, and legal consultation for loss mitigation and recovery. Founded in 1986, the company’s patented proprietary Lender Representation & Warranty Insurance™ has protected thousands of lenders and over $50 billion in residential loans to date. TPG has been an industry leader in fighting mortgage fraud, supporting lenders, aggregators, investors, and issuers, as well as working closely with rating agencies, industry representatives, and government and legislative agencies. For more information about The Prieston Group, please visit www.priestongroup.com. The American Mortgage Law Group, PC (AMLG) has its roots in the original Prieston Law Firm, a mortgage law practice founded in 1981. AMLG’s legal practice is focused on mortgage fraud resolution and related matters. AMLG has successfully resolved hundreds of cases and saved clients millions of dollars. Learn more at www.americanmlg.com.

Equity ISP™ is a trademark of Equity National.  ISP™ is a trademark of the Prieston Group.

Randall, Realtors REAL Living is part of the Randall Family of Companies which also includes Page Taft Christie’s International Real Estate and Pequot Commercial Real Estate in Connecticut and Kinlin Grover Real Estate on Cape Cod. The Randall Family of Companies includes 27 offices with nearly 500 agents and support staff. Randall, Realtors offices are located in Charlestown, South Kingstown, North Kingstown, Westerly and Watch Hill, Rhode Island and Mystic, Norwich and East Lyme, Connecticut

“While a majority of exhibitors will be trying to convince food stores and chains to carry their products, we will provide a unique service to all participants,” said Ron Lamb, president of Graphic Solutions for Business (GSB).  “We have considerable experience designing packaging for all three areas of the conference—dairy, deli and bakery.  We also have created private label packaging for multiple supermarket chains,” Lamb said.

He added, “This will be our first time exhibiting at the IDDBA.  We encourage all attendees to stop by our booth 5811 and let us show you how we can help you ‘win at the shelf’.”

The IDDBA will be held June 2-4 at the Orange County Convention Center in Orlando.

Graphic Solutions for Business has been helping their clients’ products get noticed since 1998.  Well known for their successes in the retail food and automotive aftermarket industries, GSB has developed a unique LINX Premedia™ process that moves a customer from the first idea through a finished packaging product.