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$77,500 awarded to student---led startups

Three hundred judges, mentors and student entrepreneurs gathered at the Bell Harbor Conference Center Thursday evening to award a record number of prizes—14—and a record amount of seed funding—$75,000—to participants of the 18th annual UW Business Plan Competition.

The UW Business Plan Competition, run by the Buerk Center for Entrepreneurship at the Foster School of Business, offers innovative and entrepreneurial students an opportunity to turn their ideas into compelling and viable startups. In the past 18 years 1,278 student teams from 16 colleges and universities around Washington State have participated in the competition, and the Buerk Center has awarded over $1.3 million in prize money/seed funding to 140 winning teams—over half of which are still in business.

While this year’s winning teams represent many industries, a significant number are innovating in the area of life sciences. Empreva, for example, has developed a new method of birth control and STI prevention, and vHAB’s technology helps stroke patients rehabilitate their fine motor skills.

The winners will use their prize money to turn their student teams into early---stage startups—some may apply to the Buerk Center’s Jones + Foster Accelerator, which provides mentoring and Guidance through the decisive first six months of the startup process.

Congratulations to this year’s winners:

$25,000 Grand Prize sponsored by the Herbert B. Jones Foundation
Vie Diagnostics (University of Washington)

A significant portion of patients attending STD clinics fail to follow up for treatment, even when tests are positive and the risk for transmission and complication is highest. Vie Diagnostics’ disruptive molecular diagnostic technology will reduce the spread and pain of STD infections by allowing patients to be tested and treated in a single clinical visit. Its tests will provide better patient management, lower costs for clinics, and improve overall public health.

$10,000 Second Place Prize sponsored by WRF Capital
Empreva (University of Washington)
Empreva aims to empower and engage women across the world to take their health into their own hands by providing a safe, convenient and comfortable method for birth control and STI prevention. Empreva is developing birth control and combination birth control/anti---HIV products to benefit the health of women in high---HIV burden areas of the developing world who lack options for protection.  For every purchase of an Empreva birth control product in the U.S., Empreva will donate one combination product to a woman in need in the developing world to help achieve sexual health and empowerment for women everywhere.

$7,520.15 Finalist Prize sponsored by the Friends of the BPC
Hook (University of Washington)
Hook is a home automation hub that offers smart home capability to the price sensitive consumer. Customers are able to convert existing electronics in the home to smart compatible devices, keeping these products up---to---date for years to come. Consumers will enjoy convenience with control via their mobile devices, savings on energy costs, and improved home safety. With an affordable price and remarkable ease of use, Hook aims to make smart home technology accessible to the masses.

$5,000 Finalist Prize sponsored by Fenwick & West
vHAB (University of Washington)
vHAB is a virtual rehabilitation platform that helps patients regain fine motor skills to lead autonomous lives again. vHAB enables occupational therapists to customize patient treatment and accurately monitor progress through engaging and dynamic video games. System portability and precision metrics  pose a competitive advantage for rehabilitation facilities, allowing delivery of quality treatment to patients – anywhere, anytime. vHAB saves rehabilitation facilities time and money. Most importantly, vHAB empowers patients to reclaim their independence.

$5,000 AARP Prize Targeted for teams that best address the challenges faced by low---income seniors: affordable age---in---place housing; affordable healthy food; increased income; and the impact of isolation on physical, mental and emotional well---being.

Co Optical (Washington State University)
Co Optical specializes in lifestyle management technologies, with a flagship product that revolutionizes diabetes management by continuously and non---invasively monitoring blood glucose. This wearable device, structured as a pair of glasses, improves convenience and enhances the overall user experience allowing seamless integration of lifestyle management strategies into the everyday lives of people with diabetes.

$5,000 Wells Fargo Clean Tech Prize Recognizes a venture with products, services or processes that harness renewable materials and energy sources, dramatically reduce the use of natural
resources and cut or eliminate emissions and wastes.

NOVA Technologies (Western Washington University and University of Washington)
NOVA Technologies’ Smart Solar Window uses transparent nanotechnology to create clean, local electricity that can turn skyscrapers into giant solar arrays and reduce HVAC systems costs, an innovative link to a carbon neutral future.

$2500 Best Idea Prizes Best Technology Prize sponsored by UIEvolution
TriboTEX (Washington State University)
TriboTEX aims to extend the operational life---span of industrial machinery by improving efficiency where lubricated friction takes place. TriboTEX’s self---assembling nanostructured lubricious coating provides regenerative effects to frictional surface during normal operation.

Best Marketplace Prize sponsored by ebay
Enterprise Park A Lot (University of Washington)
Park A Lot is a platform connecting private businesses which have unused parking spaces with customers looking for parking. Lot owners sign up on a hop---on, hop---off platform and their lots become available to the public, generating them revenue. Customers use Park A Lot’s website or app to  purchase parking on a lot of their choice from their home or mobile device.

Best Service/Retail Prize sponsored by REI
SmartyPants (University of Washington)
SmartyPants reinvents toilet training and mitigates adult incontinence issues to prevent millions of diapers from ending up as a biohazard in landfills. It predicts impending bowel events and alerts users to get to a toilet. The company’s innovative, first---of---its---kind, technology creates value for the  consumers by saving on diaper purchases and the environment by reducing waste and biohazard from disposable diapers.

Best Consumer Product Prize sponsored by Accenture
Hook (University of Washington)
(See earlier description)

Best Sustainable Advantage Prize sponsored by Sensors In Motion
JikoPower (University of Washington)
JikoPower makes thermo---electric generators to turn ordinary cook stoves into personal charging stations for off---grid households that have small electronic devices in the developing world. JikoPower POWERS devices, but it EMPOWERS people.

Best Innovation Prize sponsored by Perkins Coie
Vie Diagnostics (University of Washington)
(See earlier description)

Best Health/Healthcare Prize sponsored by Cambia
Empreva (University of Washington)
(See earlier description)

Best Idea for the Future Prize sponsored by DLA Piper
miPS (University of Washington)
miPS is the first consumer stem cell generation and cell banking service. miPS allows consumers to store their adult cells to prevent cellular aging, generate stem cell lines for research, and use banked cells for future stem cell therapies.

For more information contact Ellen Pepin.

Sweet 16 Round for '15 Business Plan Competition

37 student-led start-up teams from colleges and universities across Washington state - including one from UWT - gathered at the University of Washington last week to compete in the 2015 Business Plan Competition (BPC) Investment Round.

For four hours, the teams, initially selected from a pool of 103 entries, pitched their ideas and innovations to 250+ judges—entrepreneurs, attorneys, investors, and other professionals from Seattle’s entrepreneurial community— in the hopes of landing a spot in the next round of the competition. By the end of the afternoon the scores had been tallied and the sixteen top-scoring teams were announced. These teams will move on to the "Sweet Sixteen" round of the 2015 BPC—once step closer to winning the $25,000 Grand Prize. Meet the Sweet Sixteen below, and join the Buerk Center for Entrepreneurship for the Final Four round on May 21 (more information HERE).

The UW Business Plan Competition is presented by the Buerk Center for Entrepreneurship at the Foster School of Business.

Auctora University of Washington Auctora’s automated recruiting tool seamlessly screens, sorts, and schedules candidates so that corporate recruiters can utilize their time more effectively while sourcing job applicants. No dealing with paper resumes; no back-and-forth emails between recruiters and candidates – welcome to recruiting in the 21st century!

Authality University of Washington Authality’s first product, Klide, is the most secure and convenient smart lock, and the only smart lock that meets the demands of Airbnb hosts. Klide pairs a physical lock with a mobile app that allows hosts to distribute revocable “keys” to guests and control access remotely.

Benchmark Environ- mental University of Washington and Washington State University Benchmark Environmental is changing the way we treat storm water. By combining innovative design with new technologies, our treatment solutions are affordable, easy to install, and low maintenance. Benchmark Environmental’s products enable more companies and municipalities to treat storm water runoff effectively–a win-win for customers and the environment.

Bettery University of Washington Tacoma Bettery provides consumers with the most cost effective, convenient, and sustainable portable power solution on the market. Bettery taps a growing demand for sustainable solutions by offering batteries as a low cost subscription service.

Co Optical Washington State University Co Optical specializes in lifestyle management technologies, with a flagship product that revolutionizes diabetes management by continuous and non-invasive monitoring blood glucose. This wearable device, structured as a pair of glasses, improves convenience and enhances the overall user experience allowing seamless integration of lifestyle management strategies into the everyday lives of people with diabetes.

Empreva University of Washington Empreva aims to empower and engage women across the world to take their health into their own hands by providing a safe, convenient, and comfortable method for birth control and STI prevention.Empreva is developing birth control and combination birth control/anti-HIV products to benefit the health of women in high-HIV burden areas of the developing world who lack options for protection. For every purchase of an Empreva birth control product in the U.S., Empreva will donate one combination product to a woman in need in the developing world to help achieve sexual health and empowerment for women everywhere.

Go KEFI Washington State University Go KEFI is an experience-based travel website that helps you plan vacations based off desired experiences and budget. The team won first place at Spokane Start-up Weekend 2014, and has since sparked a movement for a new way to travel.

Hook University of Washington Hook is a home automation hub that offers smart home capability to the price sensitive consumer. Customers are able to convert existing electronics in the home to smart compatible devices, keeping these products up-to-date for years to come. Consumers will enjoy convenience with control via their mobile devices, savings on energy costs, and improved home safety. With an affordable price and remarkable ease of use, Hook aims to make smart home technology accessible to the masses.


JikoPower University of Washington JikoPower makes thermo-electric generators to turn ordinary cook stoves into personal charging stations for off-grid households that have small electronic devices in the developing world. JikoPower POWERS devices, but it EMPOWERS people.

NOVA Technologies Western Washington University and University of Washington NOVA Technologies’ Smart Solar Window uses transparent nanotechnology to create clean, local electricity that can turn skyscrapers into giant solar arrays and reduce HVAC systems costs, an innovative link to a carbon neutral future.

Park A Lot University of Washington Park A Lot is a platform connecting private businesses who have unused parking spaces with customers looking for parking. Lot owners sign up on a hop-on, hop-off platform and their lots become available to the public, generating them revenue. Customers use Park A Lot’s website or app to purchase parking on a lot of their choice from their home or mobile device.

RainCity Heart Lab Seattle University Seventy percent of patients who have suffered a heart attack for the first time were previously classified as low risk for cardiovascular disease based on the current testing methods. RainCity Heart Lab (RCHL) is a specialty diagnostic lab that offers a better diagnostic test called CALLIS. CALLIS (Calibrated Lipoprotein Ion Separation) is a blood test for accurately quantifying intact lipoproteins for improved Cardio Vascular Disease risk assessment.

SmartyPants University of Washington SmartyPants reinvents toilet training and mitigates adult incontinence issues to prevent millions of diapers from ending up as a biohazard in landfills. It predicts impending bowel events and alerts users to get to a toilet. The company’s innovative, first-of-its-kind, technology creates value for the consumers by saving on diaper purchases and the environment by reducing waste and biohazard from disposable diapers.

vHAB University of Washington vHAB is a virtual rehabilitation platform that helps patients regain fine motor skills to lead autonomous lives again. vHAB enables occupational therapists to customize patient treatment and accurately monitor progress through engaging and dynamic video games. System portability and precision metrics pose a competitive advantage for rehabilitation facilities, allowing delivery of quality treatment to patients – anywhere, anytime. vHAB saves rehabilitation facilities time and money. Most importantly, vHAB empowers patients to reclaim their independence.

Vie Diagnostics University of Washington A significant portion of patients attending STD clinics fail to follow up for treatment, even when tests are positive and the risk for transmission and complication is highest. Vie Diagnostics’ disruptive molecular diagnostic technology will reduce the spread and pain of STD infections by allowing patients to be tested and treated in a single clinical visit. Its tests will provide better patient management, lower costs for clinics, and improve overall public health.

Yowgii University of Washington Yowgii has the potential to disrupt the bottled water industry and the water filtration industry. The global bottled water industry is worth over $157 billion a year, but is heavily comprised of plastic bottles with significant environmental footprint and potential for contaminants. Yowgii combines environmentally-friendly water delivery with innovative water purification to deliver the best drinking water to consumer and promises pure water for a better you!

Contact for more info: Ellen Pepin Assistant Director, Buerk Center for Entrepreneurship Foster School of Business University of Washington  (206) 616-3691

IARPA Competition for Cybersecurity

The Intelligence Advanced Research Projects Activity (IARPA) is looking for a few good ideas.

The organization’s Office for Anticipating Surprise has initiated a competition for its Cyber-attack Automated Unconventional Sensor Environment (CAUSE) program, which aims at discovering ways to anticipate cyber attacks before they occur.

IARPA officials explain that industry has invested heavily in solutions that analyze the effects of cyber attacks rather than capabilities to analyze and mitigate their causes. As a result, today’s approaches typically focus on post-mortem analysis of the various attack vectors. However, as attacks have evolved and increased, these methods do not adequately enable cybersecurity practitioners to prevent attacks.

Tacoma Law Firm Facilitates Payments by Bitcoin

MerchantCoin announced recently a partnership with Dickson Law Group who will begin accepting payment for bitcoin in exchange for its legal services.

“Our decision to use the MerchantCoin ecosystem to accept bitcoin for legal services supports our ongoing commitment to our customers – we want to make it as easy as possible for businesses to work with us by accepting as many forms of payment as possible,” said Rob Dickson, Partner at Dickson Law Group. “Secondly, we want to support the tech savvy nature of the Puget Sound business community by participating in cutting edge innovation.”

As a Registered Merchant, Dickson Law gains access to MerchantCoin’s Marketplace, launching September 30, 2014. This Marketplace provides an end-to-end solution facilitating digital commerce for both consumers and merchants. The Marketplace is an open-source ecommerce ecosystem that includes a web portal, website, storefront, content management system, shopping cart, payment gateway/point of sale solution, wallet and exchange platform, providing a one-stop-shop for both consumers and merchants interested in exchanging digital currency for goods and services.

“We welcome Dickson Law Group to our group of Registered Merchants,” said Kirk St. Johns, MerchantCoin Co-Founder. “Dickson Law will now enjoy greater visibility to consumers and businesses interested in paying for services with digital currencies. Consumers simply need to go to the MerchantCoin Marketplace and select “professional services.”

They will then see Dickson Law highlighted as a MerchantCoin vendor and can use a MerchantCoin wallet to transact with the law firm.”

$70,000 AWARDED TO STUDENT-LED STARTUPS

This is the best night of the year, said Craig Sherman, partner at Wilson Sonsini Goodrich & Rosati, as he took the stage at the 17th annual University of Washington (UW) Business Plan Competition (BPC) awards ceremony. His sentiment was no doubt seconded by a room of over 250 investors, entrepreneurs and mentors, all gathered to celebrate the innovative and inspiring student-led startups that competed in this year’s BPC.

Among those celebrating the teams’ achievements was keynote speaker Dan Price, CEO of Gravity Payments. Price, a BPC alum (he won the 2nd Place Prize in 2007) delivered an inspiring message, telling the teams that if they want to be successful, they should be true to themselves, continue learning and improving, and always be willing to roll up your sleeves, dive in, and get it done. Prices’ advice was taken to heart, especially by the winning teams, who will be using their seed funding to move their business a few steps closer to reality.

Congratulations to this year’s UW Business Plan Competition winners:

$25,000 Grand Prize: Projected Talent (UW) (Grand Prize sponsored by the Herbert B. Jones Foundation)
Projected Talent is an online marketplace that connects skilled undergrads to businesses on short, meaningful, paid projects.  This allows students to gain valuable, relevant work experience and businesses to find and audition the best talent while accomplishing important tasks.  By lowering the time, space and financial commitment, more companies than ever are now able to connect with students. Team: Samir Diwan, MBA, Foster School of Business; Bilal Aijazi, MS, UW Computer Science & Engineering; Julie Maas, MBA, Foster School of Business; Max Weissman, MBA, Foster School of Business; Jeff Shulman, nonstudent

$10,000 Second Place Prize (Second Place Prize sponsored by WRF Capital)
Flu Finder (UW) Current flu diagnostic tests are unable to achieve effective early diagnosis for most flu-infected individuals. Flu Finder has created a flu test that is accurate, inexpensive and can be administered by anyone, anywhere, with results in less than 20 minutes. Team:  Carly Holstein, PhD, UW Bioengineering; Gina Fridley, PhD, UW Bioengineering; Alyssa Hochman, MBA, Foster School of Business; Jonny Holz, MBA, Foster School of Business; Joel Loveday, MBA, Foster School of Business

$7,520.14 Finalist Prize ($7,520.14 Finalist Prize sponsored by the Friends of the BPC)
OlyKraut (BGI) OlyKraut combines local produce, the magic of fermentation and delicious original recipes to create sauerkraut that's more than a condiment--it's a health tonic, a kick in the tastebuds and an investment in the local food system.Team: Sash Sunday, MBA, Bainbridge Graduate Institute; Michelle Anderson, MBA, Bainbridge Graduate Institute; Domonique Juleon, MBA, Bainbridge Graduate Institute; Dorothy Mitchell, MBA, Bainbridge Graduate Institute

$5,000 Finalist Prize: Korvata (UW) ($5,000 Finalist Prize sponsored by Wilson Sonsini Goodrich & Rosati)
Korvata Inc. creates cutting edge alternative chemistry products that enable companies to mitigate their environmental impact. Korvata, a Delaware Corporation, received the top award at the 2014 UW Environmental Innovation Challenge (EIC). Its patent-pending technology enables customers in the food & beverage and CPG industries to significantly reduce their carbon footprints. 
Team: Chris Metcalfe, MBA, Foster School of Business; Soleil Kelley, MBA, Foster School of Business; Brendan Trickey, MBA, Foster School of Business; Devapratim Sarma, MBA, Foster School of Business; Taylor Brugh, MBA, Foster School of Business;

Best Idea Prizes

$2,500 Best Technology Idea (Best Technology Idea Prize sponsored by UIEvolution)

Aurora Plasmonics (University of Washington) Blood clots are a major problem during dialysis—an average of 400,000 de-clotting procedures take place each year in the U.S. Aurora Plasmonics has developed cost-effective, non-invasive therapeutic and diagnostic technologies for de-clotting procedures. These technologies offer reduced procedure times and costs, improved outcomes and increased patient comfort. Team: Michael Lombardo, Undergrad, UW Chemical Engineering; Thomas DeMaria, MBA, Foster School of Business; Jess Little, Undergrad, UW Chemical Engineering; Wayne Monsky, nonstudent; Rainie Nelson, Undergrad, UW Chemical Engineering

$2,500 Best Service/Retail Idea: (Best Service/Retail Prize sponsored by DLA Piper)
FastBar (UW Bothell) Everyone hates long bar lines, and payment processing at pop-up bars—temporary bars for special events that don't have built-in point of sale systems —can mean especially long wait times. FastBar provides a simple, high-speed payment solution for pop-up bars that uses RFID wrist bands. Team: David Goecke, Undergrad, UW Bothell Business; Chris Li, non student; Brenton Webster, non student

$2,500 Best Sustainable Advantage Idea (Best Sustainable Advantage Idea Prize sponsored by Sensors in Motion)
Mobile Foam (Washington State University) 1.6 billion people worldwide live in substandard housing. Humanitarian organizations are trying to address this by building more homes, but construction is often low-quality and lacks energy efficiency. Mobile Foam empowers humanitarian organizations to build higher quality homes with their building kit: floor-plans, consulting and the necessary chemicals and portable molds to produce polyurethane blocks on-site. Team: Chris Routen, Undergrad, WSU Mechanical Engineering; Dane Baird, Undergrad, WSU Mechanical Engineering; Austin Carter, Undergrad, WSU Marketing; Bettina Ernst, Undergrad, WSU Civil Engineering; Kelsi Lakey, Undergrad, WSU Computer Engineering

$2,500 Best Innovation Idea (Best Innovation Idea Prize sponsored by Perkins Coie)
Flu Finder (University of Washington) Current flu diagnostic tests are unable to achieve effective early diagnosis for most flu-infected individuals. Flu Finder has created a flu test that is accurate, inexpensive and can be administered by anyone, anywhere, with results in less than 20 minutes. Team: Carly Holstein, PhD, UW Bioengineering; Gina Fridley, PhD, UW Bioengineering; Alyssa Hochman, MBA, Foster School of Business; Jonny Holz, MBA, Foster School of Business; Joel Loveday, MBA, Foster School of Business

$2,500 Best Consumer Product Idea (Best Consumer Product Idea Prize sponsored by Accenture)
Trestle (University of Washington) Trestle converts your smart phone into a touchscreen interface for your Wi-Fi router. With Trestle, complicated configuration tasks are automated making your home network a breeze to set up and your Internet security and speed are continuously optimized. It's so easy that even your grandma can do it! Team: Kris Hunt, MBA, Foster School of Business; Matt Gryll, MBA, Foster School of Business; Aneesh Kulkarni, Grad, UW Computer Science & Engineering; Raj Makker, Grad, UW Computer Science & Engineering

$2,500 Best Cleantech Idea (Best Cleantech Idea Prize sponsored by Fenwick & West)
IonoMetal Technologies (University of Washington) Gold-plated surfaces used in computer chip testing wear down with repeated use and must be replaced. Each test board costs upwards of $40,000, and there is currently no available cost efficient repair option that satisfies industry standards. IonoMetal Technologies has developed technology that lowers the costs of manufacturing new gold-plated test boards by 10x. Team: Pritam Das, MBA, Foster School of Business; Trevor Braun, PhD, UW Chemical Engineering; Britton Stamper, Undergrad, UW Chemical Engineering; Alison Keeney, Undergrad, UW Chemical Engineering; Andrew Carlson, Undergrad, UW Chemical Engineering

$2,500 Best Marketplace Idea (Best Marketplace Idea Prize sponsored by eBay Enterprise)
Stash (University of Washington) Stash has created an affordable storage platform by connecting people who need storage to those who have extra space around their house or garage. Team: Katie Fraser, Undergrad, Foster School of Business; Aaron Goff, non student; Chris Goolsbee, non student; Robert Sanders, non student; Chad Robischo, non student

$5,000 AARP Prize for low-income senior service
FDCARES (University of Washington) Fire departments use up valuable time and money dispatching Emergency Medical Service in response to non-urgent 911 calls—up to 40% of fire department medical responses are for non-emergencies. FDCARES saves fire departments millions of dollars and improves their 911 response efficiency by integrating a Non-Emergency Medical Service division into their operations. Team: Adam Davis, UW Doctorate of Nursing Practice; Mitch Snyder, non student; Jim Webb, non student

CONTACT:
Ellen Pepin, Assistant Director, Buerk Center for Entrepreneurship, 206.616.3691

Grant Competition for Accelerators

The U.S. Small Business Administration is launching a $2.5 million competition for accelerators and other entrepreneurial ecosystem models to compete for monetary prizes of $50,000 each to fund operating budgets.

To award the prizes, applicants will be judged by an expert panel that will consider each applicant's stated mission, founding team members and business goals among other core components. The application deadline is August 2, 2014.

The panel will give particular attention to, and the SBA encourages, applicants that fill geographic gaps in the accelerator and entrepreneurial ecosystem space. It is well known that the most successful accelerators to date were founded on the coasts. Through this competition, we are looking to support the development of accelerators and thus startups in parts of the country where there are fewer conventional sources of access to capital (e.g., venture capital and other investors).

In addition to accelerators which fill the gaps described above, we are also seeking out accelerators which are run by and support women or other underrepresented groups. Lastly, special consideration will be given to any accelerator models which support manufacturing.

This contest was designed to provide winners with supplemental and critical capital to the operating budgets of entrepreneurial ecosystems across the United States. With access to capital via this highly competitive process, applicants will have greater opportunity to scale up (if already existing) or to launch something completely new. The basic tenet is simple: the startup world and a portfolio's survival is driven by a game of numbers. More quality startups supported by more well-funded entrepreneurial ecosystems leads to successful startups growing into competitive, exciting and high-value job creators.

Over the coming months, SBA will be working with a number of partners such as the Global Accelerator Network (GAN) and others to host a number of Demo Days across the country. Demo Days provide opportunities for networking and the sharing of best practices among accelerators and other entrepreneurial ecosystem models.

The first Demo Day of 2014 was held in Austin, TX at the Capital Factory and concurrent with the South by Southwest (SXSW) Festival. Thirteen accelerators across multiple industries and geographies gave five-minute pitches to a room full of their peers. SBA is working to develop more of these events to happen in different cities around the country in 2014. Finalists in the competition will also be participating in a Demo Day remotely, thus there is no requirement for applicants to participate in the in-person events.

Here is the link to the application.

If you have questions, please contact by email.

Pitches Pay Off at YEA! Investor Panel

Five high school students from the Tacoma-Pierce County area pitched their business ideas before a panel of five investors to compete for funding at the first Young Entrepreneurs Academy (YEA!) Investor Panel Presentation Event at Pacific Lutheran University.

The students presented before representatives from some of the area’s biggest companies as well as an audience filled with family, friends and members of the community for the opportunity to gain funding for their original ideas- that could be the next big thing!

About 40 people attended the event, held inside the Regency Room on PLU Campus. This year’s YEA! class is comprised of public students from Tacoma Public Schools and Bellarmine Prep. The Investor Panel Event is one of the program’s three “big events” that take place over the duration of the program.

On Wednesday night, the Investor Panel donated monetary contributions as well as their support and encouragement in their belief that entrepreneurs can make a job—not just take a job—at any age.

The investor panel consisted of the following business professionals:

Mitch Anderson, Financial Advisor, Morgan Stanley Wealth Management
Gary Brackett, Business & Political Manager, Tacoma-Pierce County Chamber and TacomaAngel Network Coordinator
Beth Delmore, Senior Financial Services Representative, Opus Bank
Skip Haynes, Chairman, Rainier Connect
Heather Joy, Manager, Spaceworks Tacoma & Small Business Owner of HOLDstudios

The funds were divided and allocated accordingly to businesses that the investors felt had a well thought out plan and an idea that had a good chance at success

The investments were as follows:

•    Teen Tech Tutors, providing one-on-one technology support services to the community, especially the elderly or otherwise challenged, received $1,000. Owner Sam Wheelock is a freshman at Stadium High School.

•    Sunny Beginnings, producing fresh, individually-jarred breakfast muffin and oatmeal mixes that make creating a homemade breakfast easier, received $1,000. Owner Jessica Bokoskie is a senior at Mount Tahoma High School.

•    Portz, would produce athletic shoes that incorporates sewn-in ankle braces which stabilizes the ankle and helps prevent injury, received $500. Owners are LaMondtra Atkins, a junior at Stadium High School and Arthur Hagen, a senior at Lincoln High School.

•    Shout!, would produce a consumer app that allows its users the benefit of receiving feedback about their daily outfits and current fashion trends, received $400. Owner Gracie Weiss is a freshman at Bellarmine Prep.

Also at the event were two businesses that are still in the research and development process:

•    The Art of Memories, would provide customized memory books featuring personalized portrait and stylized drawings from the artists/owners that are tailored to each individual clients’ needs. Owners are Madison Chavez, a junior at Tacoma School of the Arts and Lyric Swanson, a senior at Mt. Tahoma High School.

•    Re’Ussu, a customized clothing company that specializes in T-shirts and hoodies, providing each client with a piece of fashion they think of as their own. Owner Cyrus Singleton is a senior at Lincoln High School.

Students will now begin marketing and selling their products and services, and preparing for the YEA! Trade Show to showcase their goods to the general public.  The Trade Show will be held on June 1, 2014 at the South Tacoma Farmer’s Market held at the STAR Center.  This event is free and open to the public.


Pictured (l. to r.): Jessica Bokoskie, Sam Wheelock, Madison Chavez, Gracie Weiss, Cyrus Singleton, Lyric Swanson, Arthur Hagen and LaMondtra Atkins.

About the Young Entrepreneurs Academy
The Young Entrepreneurs Academy or YEA!?, is a groundbreaking educational program that takes students in grades six through twelve through the process of starting and running real businesses over the course of a full academic year.

Students work in close cooperation with local leaders of industry, community members, and educators to develop ideas and objectives, write business plans, pitch potential investors, obtain funding, register with governmental agencies, develop their brand identity and much more!

By the end of the class, students own and operate fully functioning businesses that can be carried on after graduation. Students learn to make a job--not just take a job! YEA!’s? direct mission is to help students embrace their passion, energy, creativity and talents, launch a venture, and view entrepreneurship as synonymous with success and freedom.

In 2008, YEA!? “spun-off” from the University of Rochester, where it was formed in 2004 with support from the Kauffman Foundation, to create its own not-for-profit corporation, YEA! Inc., which is currently launching sites in colleges, universities and high schools across the country to provide comprehensive, exciting entrepreneurship education, leadership development and innovation training to youth between the ages of 11 and 18 years old in the United States thereby making the program available to students at a variety of geographical regions, and providing them with skills they need to succeed in the 21st Century.

For more information about the Young Entrepreneurs Academy, please call 253.682.1726 or visit tacomachamber.com/content/yea

Spokane Investment Capital Forum

This investment Capital Forum is Spokane's premier annual event featuring successful entrepreneurs, prominent venture capital firms and active angel investors from throughout the Northwest.

RSVP or more info to Robyn Swanson

Keynote Speaker:  Eric Benson

Crowdfunding Webinar Free

Are you interested in raising as much as $1 million a year in crowdfunding without having to do a public offering? To find out about opportunities like this and other ways crowdfunding rules are changing, sign up for a free webinar with the Small Business Administration.

You're invited to join Kim Peyser and Pravina Raghavan from the Office of Investment and Innovation at the Small Business Administration, for a conversation on the current state of the crowdfunding landscape as it applies to small business owners.

Kim and Pravina will outline the history of crowdfunding, give an update on Title III of the Jobs Act, and speak about how small businesses can take advantage of crowdfunding.

There will be a Q&A at the end of the webinar. You can send your questions in advance to @BusinessForward on Twitter #Crowdfund4Biz or by email.

Click here to register.

Here are the details:
What: Crowdfunding webinar with Kim Peyser and Pravina Raghavan, Small Business Administration
When: Thursday, April 24, from 4:00 p.m. - 4:30 p.m. EST
Where: Webinar information will be sent to you when you register

Funders Panel and Networking Event

Join a BBB function to meet fellow entrepreneurs and submit your business financing questions to the panel.

(Click on Image for a Larger and Complete View)

NWEA Becomes Element 8

At its annual Cleantech Leadership Forum, Northwest Energy Angels officially became Element 8.

Its new name, image and messaging were chosen to better communicate to investors and entrepreneurs not just what they do, but why they do it -- to create a healthier and more sustainable planet.

Accompanying the new name is a completely re-designed website www.element8angels.com in which Element 8 tries to speak very directly to everyone whose expertise we can leverage, and with whom they can partner, to achieve the mission.

Northwest Energy Angels was founded in 2006, as the very first angel funding group exclusively focused on clean technology and sustainability.  Since that time, its investors and portfolio have grown until it became clear that the name, and its generic acronym NWEA, no longer reflected their full scope. 

Our 43 portfolio companies represent a wide range of products, services, and market sectors and are located all across North America.  Element 8 sees abundant opportunities to create a prosperous and brighter future. They were motivated to craft a name and brand that does not unintentionally limit the perception of its scope. And better yet, the Element 8 name conveys the future they intend to help create, and its aspirations for a sustainable and healthy planet. 

Element 8, the atomic expression for Oxygen, is a wonderful metaphor.  It evokes the aspirations of our work-clean air, clean water, an abundant element essential for life and health. And Oxygen is a change agent, as is the organization, sparking the fuel of monetary investments, as well as guiding and mentoring early-stage companies.

T

Small Business Tech Grants Open

Innovate Washington the statewide public-private partnership that is the catalyst for economic growth in Washington’s innovation economy, has launched its Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant-writing program.

Innovate Washington connects innovators and researchers across the State with the entrepreneurial and financial capital needed to produce world-class companies and high-value jobs that will form the backbone of our region’s future economy.

Under the program Innovate Washington provides grant-writing support for qualified Washington-based small technology businesses interested in applying for SBIR/STTR Phase I federal R&D funding.  The program’s primary goals include enlisting first-time SBIR/STTR participants as well as those in rural and economically disadvantaged areas, minority and women-owned businesses and to increase their chances of submitting a successful proposal.

“This is an excellent opportunity for small technology businesses across Washington to increase their chances of receiving funding from these federal programs,” said Bart Phillips VP of Economic Development for Innovate Washington.  “As these businesses grow, Innovate Washington and its partners can provide additional business consulting services to help accelerate their growth.”

The program is made possible by a $55,000 grant from the U.S. Small Business Administration under its Federal State and Technology (FAST) program. Interested technology businesses are strongly encouraged to first view the Innovate Washington SBIR/STTR introductory web presentation in order to gain a clear understanding of the program and eligibility requirements. All grants must be awarded on or before March 31, 2013.  Candidates are encouraged to contact Jim Sampson, Senior Program Manager, Special Projects for Innovate Washington for more details on how to apply.

“The SBIR/STTR program is but one example of how Innovate Washington is expanding market opportunities for the citizens of Washington,” said Phillips.  “Initiatives in advanced energy, aviation biofuels and the smart and efficient building technology sectors are just a few of the areas where Innovate Washington is creating value.”

Contact: Innovate Washington, Jim Sampson, 509.358.2006.

Win $ for High Tech Small Business

NW Startup Demo

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Congressman Adam Smith's Technology Issues Update

News from Congressman Adam Smith
November 21, 2011
Technology Issues Update

USDA Announces Funding to Expand and Improve Broadband Services in Rural Areas of Washington State

Last week, the United State Department of Agriculture announced it will be providing funding for telephone utilities to build, expand and improve broadband service in rural areas. Much of these funds will be used for “last mile” Fiber to the Premises (FTTP) broadband systems. These projects are critical to connecting new subscribers to high speed broadband systems.

For example, the Toledo Telephone Co., Inc. will receive $18 million in load funds to install 292 miles of buried fiber optic cables for their FTTP system. This will enhance service for all Toledo, WA subscribers.

“Expanding broadband infrastructure is great news for Washington’s rural families. Enhanced services helps rural businesses and entrepreneurs create job opportunities for people who want to live, work and raise their families in rural communities,” Adam stated.
More information about USDA Rural Development can be found at http://www.rurdev.usda.gov/.

_________________________________________

Technology Funding in FY 2012 Appropriations Agreement

Last Thursday, the House of Representatives passed the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act for Fiscal Year 2012, HR 2112. Even in the current economic climate, funding research and technology is important for growing the economy and creating jobs. Here are some of the highlights:

· National Science Foundation: Provides $7 billion for the National Science Foundation, an increase of $173 million above FY 2011. NSF’s core research program is increased by $155 million to enhance basic research critical to innovation and U.S. competitiveness.

· Patent and Trademark Office (PTO): Provides PTO with $2.7 billion – the requested level and 29% above last year. These funds assist in streamlining the patent review system and help inventors move from an idea to creating a product more quickly.

· National Institute of Standards and Technology (NIST): NIST is funded at $751 million, including an increase of $33.5 million above last year to support core NIST scientific research programs that help advance U.S. competitiveness, innovation, and economic growth. The Manufacturing Extension Partnership to provide training and technical assistance to U.S. manufacturers is maintained at last year’s level of $128 million.

“Funding research and technology is crucial to our innovative and economic growth. Growth in the technology industry will increase our global competitiveness and foster a stable and growing economy,” Adam stated.

If you have questions or comments, please contact Linda Danforth, District Director, at: 253-593-6601 or via email at: linda.danforth@mail.house.gov

Interested in more information? Follow Adam online:
adamsmith.house.gov Facebook YouTube Twitter RSS

NW Startup DEMO Calls for Entries

NW Startup DEMO Fall 2011: Call for Entries Now Open Deadline for submissions: October 28

Northwest Startup DEMO is back with its Fall 2011 edition!  Some of the hottest start-ups have made their debut on previous NW Startup DEMO events. If your startup can DEMO its product or service in front of a live audience and panel of judges, they  want to hear from you, but be sure to read their submission tips and tricks first to provide the best application possible! Based on your submissions, 10 to 12 companies will be selected to present to the screening committee on November 10. From there, the committee will select the finalists that will participate in the Northwest Startup DEMO – Fall 2011 event to be held at One Union Square Boardroom on December 1st.

Two Sides of the Angel's Coin

Entrepreneurs can be either the inventor or the financier who provides the business acumen to bring new products and new processes to the marketplace.

The TacomaAngel Network is Tacoma's answer to both these sets of entrepreneurs.  At today's TacomaAngel Network meeting, three entrepreneurial ventures were presented to the TacomaAngel Network of successful angels.  (Angels are SEC-qualified, high net worth individuals who seek opportunity in bringing new products and new companies to profitability.) 

This picture is a perfect example of the cross-pollination that occurs.  Here Entrepreneur Bob explains his prototype tilting three-wheeled motorcycle to Angel Nick.  As one of the three presentations that the TacomaAngel Network heard today, Entrepreneur Bob got to explain his invention, his business plan and make that pitch why Angel Nick and his fellow angels should invest in him. 

If you are an SEC-qualified Angel and would like the group dynamics that recruit, screen and present Entrepreneurial opportunities from within the Pacific Northwest region, you could contact the group's administrator Gary Brackett for more information.

If you are that rarest of gifted individuals who have both a great idea and a concept for making it pay off for you and those who invest in you, visit the TacomaAngel Network website and begin the registration process to have your business considered for investment.  In addition to grabbing for the golden ring, you'll find resources and contacts to help you prepare and market your enterprise.

Tacoma Leaders Close When Cloture Fails

Earlier, we’ve blogged about the Finance Reform bill and its comparatively minor provisions that relate to angel investors. I say comparatively minor as the Finance Reform bill does many earth-shaking changes in the nation’s/world’s financial market. Those many earth-shaking changes are where the news action is.

However, a new local link is emerging.

CQ News reports today that final action on the comprehensive financial service overhaul remains uncertain. With both the election of Sen. Scott Brown (R-MA) and the death of Sen. Robert Byrd (D-WV), sixty Democratic senatorial votes are no longer assured. With only four Republican senators voting “yea” for the Finance Reform bill, the question arises which Democrats are voting “no.”

Chamber delegation visiting with Sen. Cantwell immediately following Senate failure to
vote on her amendment.
                                                                                      

Those two Democratic senators voting “no” are said to be Sen. Charles Grassley (D-IA) and our own Sen. Maria Cantwell.

When the Chamber’s delegation visited Washington, D.C. last month, Sen. Cantwell had just had defeated (by Sen. Harry Reid, (D-NV) Majority Leader, pursuing a cloture vote) on the Senate floor her proposed amendment. She was quoted at the time by Jordan Fabian, thehill.com/blogs, that a vote on her amendment was continguent on her voting “yea” for the Finance Reform bill.

Sen. Cantwell’s amendment, co-sponsored by Sen. Blanche Lincoln (D-AR), aims to toughen enforcement of complex financial derivatives.                                

Winners! BPC 2010

                It’s been a terrific Business Plan Competition this year. 

There were a record 92 student teams from 15 universities apply to participate in the competition. Over 120 judges devoted a full week-end the beginning of April to screen that group down to 36 teams—and provide feedback. At the Investment Round in late April, those 36 teams pitched their hearts out to 205 judges in the HUB Ballroom—and 16 advanced to the next round. Yesterday the Sweet 16 teams made their full presentations to another set of judges. Six highly credible teams made it to the Final Round, where they presented to seven entrepreneur judges.

The next generation of start-ups are focused on recycled glass for building materials, windows that turn sunlight into energy, helping Korean students learn English, mobile payments, camera systems at mountain resorts to capture and share the activities of enthusiasts, devices for rapid quantitative immunoassays, measuring fat loss, and enhancing the wheelchair-bound person’s ability to walk, and a revolutionary enzyme that can mix with clay to build roads.

Thank to the judges, sponsors, volunteers, faculty, and our colleagues at Bainbridge Graduate Institute, Central Washington, Edmonds CC, Embry-Riddle, Gonzaga, North Seattle CC, Seattle Central CC, Seattle Pacific, Seattle University, University of Puget Sound, University of Washington, UW Bothell, UW Tacoma, Western Washington, and Washington State University. 

It takes a community (and a region) to raise an entrepreneur!

$25,000 Herbert B. Jones Foundation Grand Prize:  YongoPal, UW
A service for South Korean university students that allows them to practice conversational English with their American peers via webcam, and that also allows university students in America to profit from those interactions.  Kyung Hee Yun, BA in Political Science; Jon Hickey, Master of Communication in Digital Media; Darien Brown and Daron Hall

$10,000 Bristlecone-Selamat Challenge Second Prize: Empowering Engineering Technologies, UW
EETech is developing a medical device called ExoWalk that utilizes patented ExoTendon technology to dramatically reduce the muscular force required to walk, enabling people with wheelchairs to stand up and walk their way to better qualities of life. Brian Glaister, PhD in Mechanical Engineering; Katie Mulholland, MS in Mechanical Engineering; Chie Kawahara; and Jason Schoen

$5,000 Fenwick & West Finalist Prize:  Febris, WSU
Produces a point of care viral diagnostic, based on patented processes, that can detect a viral infection days before the subject manifests physical symptoms and becomes contagious. Jason Burt, MBA; Alice Lombard, DVM-Doctor of Veterinary Medicine; Andrew Lombard, MBA; and Michael Whittaker, MBA

$5,000 WRF Capital Finalist Prize:  Emergent Detection, UW and UWT
Working to solve the worldwide obesity epidemic with its handheld device that immediately and directly measures personal fat loss in the home user.  Eric Fogel, Eve MBA; Joel Gjuka, MBA -UWT; Keegan Hall, MBA -UWT; Amanda Mathes, Eve MBA

BEST IDEA PRIZES

The BEST IDEA prizes were created to reward teams in the Business Plan Competition for their exceptional work in several different categories. The teams receiving these prizes were selected by a special group of judges during the Investment Round. This year we gave away SIX $2,500 Best Idea Prizes.

OVP Venture Partners Best Technology Idea: Empowering Engineering Technologies, UW
EETech is developing a medical device called ExoWalk that utilizes patented ExoTendon technology to dramatically reduce the muscular force required to walk, enabling people with wheelchairs to stand up and walk their way to better qualities of life. Brian Glaister, PhD in Mechanical Engineering; Katie Mulholland, MS in Mechanical Engineering; Chie Kawahara; and Jason Schoen

Synapse Product Development Best Consumer Product Idea: Native Roots, WSU and U of Idaho
Positioned to become a major supplier of native plants, the breeding program currently has 40 native plant varieties in position to be patented with plant variety patents (PVPs). Kathryn Leonard, MBA - WSU; Casey Neumeyer, BS Agribusiness - U of Idaho; and Mac Reynolds

Perkins Coie Best Innovation Idea: GreenStone International, Seattle U
Has developed a revolutionary enzyme that when mixed and compacted with clay creates a durable, low cost, waterproof and environmentally friendly road with a lifespan of more than 15 years. James Spaulding, MBA; Heidi Han Yu, MBA; Emily Marshall, MBA; Ping Chee; John Craig; and Dick Polley

DLA Piper Best Service/Retail Idea: Snovision, UW and Seattle Central Community College
Automated camera systems for mountain resorts that allow their terrain park participants to capture, share and further enjoy their mountain experience at home through our online community. Rob Hammond, MBA; Jonas Harris, BA International Business; Josh Scotland, Undergrad Computer Science and Business; Scott Stucker, Associate of Applied Sciences in Graphic Design; Sterling Swigart, Undergrad Computer Science; Eli Rosenberg, MBA; and Robert Capogna

Sensors in Motion Best Sustainable Advantage Idea: WISErg, WSU
Will provide earth-friendly solutions to the growing problems of food waste disposal and energy consumption by offering a unique food-to-fuel solution to the nation's largest consumers, starting with Fortune 500 corporate campuses. Brandon Baker, Undergrad Business; Jaimee Jewell, Undergrad Business; Larry LeSueur; and Jose Lugo

Keeler Investments Best Clean-Tech Idea: EnVitrum, UW
Using the consumer glass waste stream to produce 100% recycled building materials and agricultural products. Serena Batten, TMMBA; Scott Coil, Eve MBA; Grant Marchelli, MS Mechanical Engineering; and Renuka Prabhakar, BS Mechanical Engineering

A special thanks to the sponsors of the 2010 Business Plan Competition!