Techpreneurship: DWR Governor’s Cup Recap

Jeff Amerine

Techpreneurship, with Jeff Amerine

(Jeff Amerine is an IA advisor, entrepreneurship educator, and officer with the University of Arkansas Technology Licensing Office. Each Thursday, his Techpreneurship blog will appear in INOV8. Drop him a line in comments.)

LAS VEGAS — Incredible.  Incredible best describes the results from this year’s Donald W. Reynolds Tri-State Business Plan Competition. The event features the two best  undergraduate and graduate business-plan teams from state competitions in Arkansas, Oklahoma, and Nevada.

This year, the University of Arkansas capped an amazingly successful nationwide winning streak by taking first and second in the graduate division, and first in the undergraduate division.

Here are the specifics:

Graduate Division 1st Place:  InnerVision – Using several patent pending technologies, the company provides real-time monitoring and control solutions for utility-scale natural gas turbines.

2nd Place: BiologicsMD – With a patent-pending compound developed by a UA researcher and two other institutions, BiologicsMD provides a single-dose, high-efficacy treatment for osteoporosis.

Elevator Pitch Winner: BiologicsMD (pitch by Misty Stevens).

These two teams have dominated the business-plan circuit across the country this year.  These teams, along with Silicon Solar Solutions, all coached by Dr. Carol Reeves, have posted wins or high finishes in every business plan competition entered this year.  The wins resulted in cash awards and in-kind services in excess of $600,000.

The mark left this year by this group of UA graduate students will not likely be matched by any university any time soon.  The best part? These teams have a very real chance of securing significant outside finance, getting their solutions to market, and creating scores of new high-paying jobs in Arkansas.

Undergraduate Division 1st Place:  Arkansas Auto Fluff – The company provides a unique process for recycling plastic waste from salvage automobiles that would otherwise end up in landfills.

This team, coached by Mark Zweig, did so well in the competition today that two of the judges who came from the angel-investment arena gave the team their business cards, and asked for follow-up investment discussions.  Amazing!

Again, this is another business plan created by UA students that has a real chance to become a viable, sustainable venture in Arkansas.

Interactive Convenience Electronics (ICE) finished second in Arkansas and competed well in Las Vegas Thursday, but came up short.  The ICE team gave a great effort, and represented Arkansas well. So, what does it all mean?  Entrepreneurship and techpreneurship are alive, well, and growing in Arkansas.

Keeping watching the headlines in the coming months and years. I am betting you will hear much more from these promising start-ups…

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