All Entries in the "Business Plan Competition" Category

WINNERS NAMED IN 2018 RHODE ISLAND BUSINESS PLAN COMPETITION  

Six Teams Share Prizes Valued at Nearly $260,000

PROVIDENCE – (May 17, 2018) – A Brown University student who developed a low-cost software package that lets social workers efficiently manage documents and information flows was named the top winner in the 2018 Rhode Island Business Plan Competition, which awarded prizes valued at $259,300 to six competitors.

Michelle Petersen, whose TextUp software packing is already being sold, took home $86,650 in winnings – $15,000 in cash and $41,650 in professional and consulting services as the Student Track winner, plus a $30,000 bonus cash award.

Winners were announced today at a public awards ceremony at the Rhode Island Nursing Education Center in Providence.

Ross Nelson, vice president of Cox Business, announced that Petersen as the top winner will automatically be a finalist in the $50,000 Get Started Rhode Island pitch contest, to be held Oct. 4 in Providence.

Petersen, due to receive her bachelor’s degree in public policy this month, said social workers typically handle up to 60 clients simultaneously, but on average dedicate only about 18% of their time to direct client service. The rest of their time is spent managing and documenting interactions. She said, TextUp, which tracks all critical information, allows users to devote more time on clients, fostering more enduring relationships and reducing job turnover.

Winning the Entrepreneur Track was Your Heaven Audio, based in Providence and led by Steve Schwartz, which offers a hardware/software technology platform for amplifying and recording acoustic musical instruments accurately and easily. Your Heaven Audio received $15,000 in cash plus $41,650 in professional and consulting services.

Winner of the MedTech/Life Sciences Award was Predictive Optics, which is developing a portable, inexpensive device that optically evaluates cerebrovascular health by quantifying retinal blood flow dynamic differences between eyes. Predictive Optics, led by Vishnu Dantu, who is studying applied mathematics and biology at Brown University, was awarded $15,000 in cash and $52,400 in professional and consulting services.

“The judges were impressed by the breadth and capabilities of this year’s winners and finalists, all of whom are developing robust solutions to critical business issues,” said Co-Chair Peggy Farrell, partner with the law firm of Hinckley Allen in Providence. “We not only wish them luck, but also look forward to working with them.”

Co-chair Anthony Mangiarelli, partner with the accounting firm of KLR in Providence, noted, “We’re only able to host the competition because of the generosity of our sponsors, who by their support demonstrate their keen interest in helping to foster the next generation of Rhode Island companies.”

This 2018 Rhode Island Business Plan Competition was supported by 58 sponsors.

The finalist in the Entrepreneur Track was PowerDocks, which has created floating platforms, such as moorings and docks, that use renewable energy sources to generate, store, and distribute power at those sites. Anthony Baro, of Newport, is the managing partner.

Finalists in the Student Track were:

• FungEye is a rover-based detection system, using multispectral imaging, to identify mold growth before the human eye can, replacing manual inspections which often lack accuracy. The company is led by David Katzevich, due to get his bachelor’s degree from Brown University this month, majored in entrepreneurship and technology management.
• goTeff, led by Saron Mechale who is studying business and entrepreneurship at Brown University, is a low sugar, all-natural, nutrition bar that uses Teff, a gluten-free super-grain with low-glycemic index and a superior balance of nutrients, for cardio, nutrition, and health-minded consumers.

Each finalist received $5,000 in cash and services valued at $11,200.

Approximately 50 previous Rhode Island Business Plan Competition participants are currently operating, having created more than 500 jobs, and buying services and supplies from Rhode Island companies.

A total of 61 applications were received this year. To be eligible to win prizes, applicants agreed to establish or continue business operations in Rhode Island.

Sponsors of the 2018 Competition

The 2018 competition was supported by 58 sponsors, including private businesses, professional firms, banks, investors, colleges and universities, nonprofit and service organizations, and public agencies, as well as five former competitors.

Lead sponsors were Bryant University, Cox Business, Everhope Foundation, Hinckley Allen, Integrated Media Group, KLR, Locke Lord, Materials Science Associates (former competitor), MedMates, The Providence Journal Charitable Legacy Fund, and Sprout.

Also sponsoring the 2018 competition were Bank of America, Barlow, Josephs & Holmes, Ltd., Brown University Nelson Center for Entrepreneurship, Center for Women and Enterprise, Cumulus Media, Envision Technology Advisors, FM Global, Goldman Sachs 10,000 Small Businesses at CCRI, Greater Providence Chamber of Commerce, Hatch Entrepreneurial Center, Luminous, RevUp Capital, Roger Williams University, Social Enterprise Greenhouse (former competitor), Tech Collective, and the URI College of Business Administration.

Sponsors also included AAA Northeast, Bank Rhode Island, The Beacon Mutual Insurance Company, Business Development Company, Delta Dental of Rhode Island, Dimeo Construction Company, The Hilb Group of New England, The Idea Turbine, IGT Global Solutions Corporation, Morgan Stanley-Richard Carriere, The Moore Company, Navigant Credit Union, RI Student Loan Authority, Savings Institute Bank and Trust, Slater Technology Fund, Teknor Apex, and The Washington Trust Company.

Additional sponsors included BankNewport, Cherrystone Angel Group, Citizens Bank, Classic Hassocks, CVS Health, Deepwater Wind, Fidelity Investments, Hayes & Sherry Real Estate Services, InsureMyTrip, Johnson & Wales University, Newport Biodiesel (former competitor), Pawtucket Credit Union, StormTree (former competitor), and Virgin Pulse (former competitor).

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded prizes valued at more than $2.6 million to developing companies across many industries. More information is available at www.ri-bizplan.com.

RHODE ISLAND BUSINESS PLAN COMPETITION NAMES 14 SEMI-FINALISTS

Winners and Finalists Will Share Prizes Valued at $265,000

PROVIDENCE – (April 10, 2018) – The Rhode Island Business Plan Competition today announced 14 semi-finalists in the 2018 competition, which will award prizes valued at $265,000 next month.

The semi-finalists were chosen from 61 applicants who proposed businesses that address opportunities in agriculture, biotechnology, data management, energy, health care, maritime applications, music, and nutrition, among other areas of commercialization.

Winners in the 2018 competition will be announced at a public ceremony on May 17 at the Rhode Island Nursing Education Center in Providence. Prizes will be awarded to winners and finalists.

“Entrepreneurship is thriving in Rhode Island, as evidenced by this year’s strong applicant group,” said Competition Co-chair Anthony Mangiarelli, partner with the accounting firm of KLR in Providence. Co-Chair Peggy Farrell, partner with the law firm of Hinckley Allen in Providence, added, “Those who were not selected as semi-finalists should understand that persistence is a key success factor for launching and growing a business, and should keep working on their idea.”

Entrepreneur Track Semi-finalists

Semi-finalists in the entrepreneur track are:

Biomimesis Medical Technologies is developing a synthetic, non-immunogenic, multi-layer wound dressing to treat third-degree burns. Principal applicant: Anup Mohanty, Grantham, NH.

Certified Organic Produce of New England is proposing to increase the quality of organic produce brought to market at lower cost by relying on advanced indoor growing technology. Principal applicant: Rhonda Price, East Providence.

Keel has developed an open-source technology that enables companies to integrate external services and data sources in minutes rather than weeks. Principal applicant: Andrew Kelley, Providence.

PowerDocks has created floating platforms, such as moorings and docks, that use renewable energy sources to generate, store, and distribute power at those sites. Principal applicant: Anthony Baro, Newport.

Sol Tiempo is creating a suite of battery-based household products that charge during the day and run off batteries during peak demand, usually during evening, easing demand on existing electricity generation systems. Principal applicant: Cristian Potter, North Providence.

Your Heaven Audio has developed a hardware/software technology platform for amplifying and recording acoustic musical instruments accurately and easily. Principal applicant: Prachi Jain, Providence.

Student Track Semi-finalists

Semi-finalists in the student track are:

A2Z Drones is developing a delivery drone that will transport small goods to ships at sea, and other water-based destinations, replacing helicopters or boats that are slow, costly, and pose risks to human operators. Principal applicant: Aaron Zhang, Brown University.

CrossCheck is developing a software system that verifies the accuracy of online news and displays this information to consumers in an accessible format. Principal applicant: Franklin Young, Brown University.

FungEye is a rover-based detection system, using multispectral imaging, to identify mold growth before the human eye can, replacing manual inspections which often lack accuracy. Principal applicant: David Katzevich, Brown University.

goTeff is a low sugar, all-natural, nutrition bar that uses Teff, a gluten-free super-grain with low-glycemic index and a superior balance of nutrients, for cardio, nutrition, and health-minded consumers. Principal applicant: Saron Mechale, Brown University.

Poseidon Sensors is a water monitoring system that uses ultrasonic sensors and machine learning to eliminate the risk of water damage to homes or work places. Principal applicant: Daniel Meteer, Brown University.

Predictive Optics is developing a portable, inexpensive wearable device that optically evaluates cerebrovascular health by quantifying retinal blood flow dynamic differences between eyes. Principal applicant: Vishnu Dantu, Brown University.

Pro-Therapy is developing a turnkey solution for hospitals and clinics that reduces the cost and space needed for proton therapy in cancer treatment. Principal applicant: Jonathan Sheedy, Brown University.

TextUp has developed an encrypted, affordable software package for social workers that increases their efficiency by enabling them to manage all documents and information flows. Principal applicant: Michelle Petersen, Brown University.

Sponsors of the 2018 Competition

The 2018 competition is supported by 58 sponsors, including private businesses, professional firms, banks, investors, colleges and universities, nonprofit and service organizations, and public agencies, as well as five former competitors.

Lead sponsors of the 2018 competition are Bryant University, Cox Business, Everhope Foundation, Hinckley Allen, Integrated Media Group, KLR, Locke Lord, Materials Science Associates (former competitor), MedMates, The Providence Journal Charitable Legacy Fund, and Sprout.

Also sponsoring the 2018 competition are Bank of America, Barlow, Josephs & Holmes, Ltd., Betaspring, Brown University Nelson Center for Entrepreneurship, Center for Women and Enterprise, Cumulus Media, Envision Technology Advisors, FM Global, Goldman Sachs 10,000 Small Businesses at CCRI, Greater Providence Chamber of Commerce, Hatch Entrepreneurial Center, Luminous, Roger Williams University, Social Enterprise Greenhouse (former competitor), Tech Collective, and the URI College of Business Administration.

Sponsors also include AAA Northeast, Bank Rhode Island, The Beacon Mutual Insurance Company, Business Development Company, Delta Dental of Rhode Island, Dimeo Construction Company, The Hilb Group of New England, The Idea Turbine, IGT Global Solutions Corporation, Morgan Stanley-Richard Carriere, The Moore Company, Navigant Credit Union, RI Student Loan Authority, Savings Institute Bank and Trust, Slater Technology Fund, Teknor Apex, and The Washington Trust Company.

Additional sponsors include BankNewport, Cherrystone Angel Group, Citizens Bank, Classic Hassocks, CVS Health, Deepwater Wind, Fidelity Investments, Hayes & Sherry Real Estate Services, InsureMyTrip, Johnson & Wales University, Newport Biodiesel (former competitor), Pawtucket Credit Union, StormTree (former competitor), and Virgin Pulse (former competitor).

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded prizes valued at more than $2.3 million to developing companies across many industries. More information is available at www.ri-bizplan.com.

New England Institute of Technology to Offer Two New Bachelor of Science Degree Programs in the Health Sciences

EAST GREENWICH, RI – Dr. Douglas H. Sherman, Senior Vice President and Provost at New England Institute of Technology, announced that the university will offer two new bachelor level programs beginning in the Spring, 2016 quarter. The Health Care Management and Health and Wellness programs were developed to address the need for highly skilled employees in these sectors of the health sciences.

The Health Care Management program is a specialized bachelor of science degree program for students who have a minimum of an associate in science degree in the health care field. This program is designed to prepare graduates for entry-level managerial careers in health care and incorporates the latest innovations, managerial techniques and theory into a practical 18-month program. Courses in the core areas of health care systems include health care law, economics, marketing, and finance, as well as public health, quality improvement and risk management.

Health Care management graduates will be prepared for employment as managers or assistant managers to support strategic planning, budgeting, and quality improvement or as supervisors of a program or department in long term care facilities, hospitals, public health, home health care, community health, mental health centers and other health related venues.

The Bachelor of Science degree program in Health and Wellness prepares students to learn how to coach and educate clients of all ages using an innovative system rooted in the latest bio-psycho social sciences.  Students may enter the Health and Wellness program upon graduation from high school or matriculate from related associate in science degree programs.

The curriculum includes wellness and prevention, cognitive and behavioral change management, professional health and wellness coaching, client/patient engagement and activation, collaborative leadership and culture transition, personalized health, practical health and wellness workplace challenges, and health care’s Affordable Care Act and associated Accountable Care Organizations (ACOs).

Career opportunities in this emerging health care specialty include health and wellness program design, health promotion, coaching in medical/health care settings, wellness education in physicians’ offices, insurance companies, corporate wellness/fitness, health centers and geriatric day and assisted living communities.

For more information on these new programs, contact NEIT’s Admissions Office at 800-736-7744, 401-467-7744, by email at NEITAdmissions@neit.edu or visit www.neit.edu.

Under the leadership of President Richard I. Gouse, New England Institute of Technology is a private, non-profit technical university with an enrollment of more than 3,000 students and is accredited by the New England Association of Schools and Colleges, Inc. Founded in 1940, the university offers associate, bachelor’s, master’s, and online degree programs focusing on a proven combination of technical expertise coupled with hands-on learning.  Follow news of the college on Facebook, Twitter, You Tube, Instagram, Tumblr and the New England Tech Blog.

2016 Rhode Island Business Plan Competition to Launch on Oct. 15

PROVIDENCE, RI – The Rhode Island Business Plan Competition, New England’s leading community-supported business plan competition, today announced that its 2016 competition will launch next month and culminate next May with the awarding of prizes valued at $200,000.

A Kick-Off event on Thursday, Oct. 15, is the first of a series of free public events and educational workshops that the Competition will host over the next six months.

New this year is a Medical Technology Award, consisting of cash and services, that will recognize an existing or proposed MedTech company working toward a solution that will have significant impact on improving and saving lives while also reducing some of the strain on the healthcare system.

The Kick-Off will be held 5:30 – 7:00 p.m. at Tech Collective, 166 Valley St., Building 3, Providence. Pre-registration is required and may be completed online at www.ri-bizplan.com.

Winners from last year, who took home $200,000 in prizes, will share their experiences and tell what it took to participate and win.

Competition Co-Chair Peggy Farrell, partner in the law firm of Hinckley Allen, said, “Start-up and emerging companies are critical to the future economic vitality of Rhode Island, and the competition is all about fostering the next generation of businesses.

“Many applicants tell us that participating in the competition helped them launch their businesses, and we recognize and appreciate that this happens only because of the support of many organizations across Rhode Island.”

Upcoming events include a free MedTech Development Road-Map workshop on Nov. 4 and the annual Rhode Island Elevator Pitch Contest on Dec. 3.

Sponsors of the 2016 Competition

Lead sponsors of the 2016 Competition are Focus Vision Media, Hinckley Allen, and KLR.

Also supporting the Competition are AAA Southern New England, Bank Rhode Island, Beacon Mutual Insurance Co., Bridge.jobs, Bryant University, Business Development Company, Care New England, Cherrystone Angel Group, Center for Women and Enterprise, Delta Dental of Rhode Island, Dimeo Construction Company, Embolden, Envision Technology Advisors, Greater Providence Chamber of Commerce, InsureMyTrip, Johnson & Wales University, Morgan Stanley Wealth Management, Navigant Credit Union, Providence Business News, Tech Collective, and Teknor Apex.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded more than $1.8 million in prizes to competitors developing companies across many industries.

The Competition is free and open to everyone age 18 or over whether or not they already have started a business. Complete information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.