FOR IMMEDIATE RELEASE
Contact: Tasha Bibb, Innovate Mississippi, tbibb@innovate.ms
(Ridgeland, Miss) – Innovate Mississippi presented the 8th Annual Mississippi New Venture Challenge business plan competition Tuesday, May 19, 2015, at the Jackson Convention Complex.
Nearly 60 Mississippi innovators and technology entrepreneurs, representing more than 30 companies, competed in this rapid-fire contest, pitching their pioneering business plans to a panel of judges comprised of the state’s top entrepreneurs and investors. All participants represented startup or existing companies with innovation-based new venture opportunities and competed in either the student division or one of two pre-revenue divisions.
“We once again had a great gathering of some of Mississippi’s emerging technology and innovation companies,” said Tony Jeff, president and CEO of Innovate Mississippi. “I hope all of the mentors, judges and audience members were as impressed as I was at these businesses, and I have no doubt we’ll be hearing from many of them in the near future.”
Competitors were screened prior to the event and once chosen, each company was placed with a volunteer mentor who assisted in preparation for the competition. Mentors included angel investors and business professionals and were matched with companies based on their areas of expertise and experience.
In the first pre-revenue category, first place went to Momentum Dryer, of Jackson, a company that has developed a new hair dryer design that can cut normal drying time in half. Second place went to WeeNee GeeNee, of Holcomb, for an invention that allows users to get the grill flavor in hotdogs, sausages and shish kabobs by cooking vertically on the grill, without burning. Third place was awarded to Betta Boats, of Bay St. Louis, who has developed a two-person recreational fishing skiff, with a 6-8 mile range for protected waters.
In the second pre-revenue category, first place was awarded to Collie Home Health, of Oxford, which offers an Elder Care home monitoring and fall-risk assessment system that not only detects falls and movements within a residence, but also alerts caregivers when changes in movement indicate an increased risk of a fall. Second place was awarded to Color Enhanced Detection, LLC, of Jackson, for their invention that adds color to CAT scan images in order to improve stroke detection. VRM Telematics, of Ridgeland, received third place for their product that promotes car safety and discourages phone use while driving.
First place winner in the student division was Zynergy, of Oxford, a job-searching website that matches users to companies based on how well a user’s personality and priorities mesh with a company’s corporate culture. Second place was awarded to Vibe, of Starkville, which is the only liquid-activated drink infuser on the market and includes an endless target market, from pediatrics to bars. Third place was awarded to Nippy, of Oxford, for their patented, completely untethered all-in-one electric breast pump, with a storage and cooling unit.
“Every single one of the startup ventures reflected such creativity, from concept to presentation,” said Tasha Bibb, entrepreneurial development manager for Innovate Mississippi. “The innovation, talent and energy represented at the 8th Annual Mississippi New Venture Challenge resulted in real success – not only for everyone involved, but for Mississippi as a whole.”
$18,000 in cash prizes was awarded. Additionally, $5,000 worth of in-kind service prizes from attorneys, accountants and web designers were awarded to the winning teams to help grow their business.
Financial sponsors included Bradley Arant Boult Cummings LLP, Broadband Voice, FNC and InnovateMEP Mississippi. In-kind services were provided by Connect Technologies, Gwen Catchings of Jackson State University, the Iron Network, the Mabus Agency, Mississippi Polymer Institute, RedLaser Technology and Danny Bolanos of Regions.
Two commercial stage companies presented during a showcase at the end of the competition, including NG1 Techflo and BFAC, both sharing how Innovate Mississippi’s services were instrumental to the initial growth and ultimate success they have achieved.
Innovate Mississippi is a nonprofit organization with the mission to drive innovation and technology-based economic development for the State of Mississippi. Visit www.innovate.ms for more information.
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