Kids with hats are on track

Krochet KidsKohl Crecelius is a young man of many hats: a social entrepreneur, a dedicated practitioner of crocheting and CEO and co-founder of Krochet Kids, a company that sells “headwear.” He’s even somewhat of a media celebrity, appearing on a national TV ad for Bing that ran during the fall kick-off week on major networks.The concept for the company was an unlikely combination of activities. Kohl and his surfer, high school friends loved to crochet and enjoyed summers volunteering in developing countries. How to combine the two?

With a mission and the passion to empower people to rise above poverty and “stand on their own two feet,” Krochet Kids was born in 2007. The plan was to teach women to crochet hats and pay them a living wage for their work. While students at the University of Washington and Whitworth College, the three friends formed a non-profit organization and targeted a chronically poor, war-torn province in Northern Uganda. From a small group of workers they taught to crochet in 2008, the work force has expanded to 122 women today. Earning a sustainable wage means that these women can provide food, water, clothes and education for up to six dependents. Customer appeal is clear: “buy a hat, save a life.” Each hat comes with the personal story of the woman who crocheted it.

Since winning the “Best Social Idea” at the UW Center for Innovation and Entrepreneurship Business Plan Competition in 2008, the company has been growing to the healthy tune of about 250% a year. “The BPC instilled confidence in our model,” says Crecelius. “We had judges buying our hats during the event, and winning the competition gave us the validation and encouragement we needed.”

Since the competition, Krochet Kids has attracted the attention of Nordstrom which now carries their hats; partnered with Seattle’s One Day’s Wages, a group dedicated to alleviating extreme world-wide poverty; and won $2,000 in the Chase Community Giving Competition, a program where fans on Facebook vote for their favorite charities.

Company founders believe the model used in Uganda can be applied anywhere. Recently, they expanded to Lima, Peru, employing 10 women working with some “amazing yarns.” Introduced in mid-September, the Kids’ fall line of hats and the shirts they recently added sold out within a week.

One of Krochet Kids’ advisors, P. Scott Cummins, a Seattle-based social venture expert, recently made a bold prediction: “Kohl Crecelius is among the 100 most important graduates of UW Business School. But mark my words, even five years from now, that will be considered an understatement.”

Global study: Looking at Cyprus & Greece through different cultural lenses

Guest blog post by Aspasia Bartell, UW Foster School of Business MBA student

Selected from a nationwide candidate pool, second-year Foster MBA student Aspasia Bartell traveled to Cyprus and Greece this summer with the American Hellenic Institute Foundation, a Washington, DC-based, Greek-American think tank. During the trip she had the opportunity to study current foreign policy issues and the business environments in Greece and Cyprus. The delegation met with the President of Greece, ambassadors, Greek and Greek-American business leaders and other dignitaries.

We began our trip in Cyprus, a divided country since the 1974 conflict between Turkey and Greece. Northern Cyprus remains under the control of Turkish military forces, a situation regarded as an illegal occupation denounced in several United Nations Security Council resolutions. The Greek-Cypriot government in the south wants to reunify the island, but attempts to reach a solution to the dispute have so far been unsuccessful. This situation has created hardships for the Cypriot people; for example, thousands have lost their homes and businesses as a result of the occupation and continued division.

Despite the division, the Cypriot economy is doing quite well. Over the past decade Cyprus has become a magnet for Foreign Direct Investment. The Greek-Cypriot government has taken specific measures to help drive investment including putting in place a low 10% corporate tax rate and a no withholding tax policy as a means to make investing in Cyprus as simple as possible.

UW Foster School MBA student Aspasia Bartell in Athens, Greece
UW Foster School MBA student Aspasia Bartell in Athens, Greece

Next, we visited Greece in the midst of its worst financial crisis in history.

In Athens we met with Dr. Miranda Xafa, Alternate Executive Director at the Board of the International Monetary Fund, who explained the economic crisis in greater depth. She discussed how Greece has taken out the largest loan in the history of humanity. Its debt has been downgraded to junk status. Greece is more than likely to default.

Xafa then spoke about actions Greece needs to take to make progress. She spoke on how Greece needs foreign direct investment and that this investment should be from private capital. She spoke further on how the country needs to focus on its tourism and shipping industries, which make up approximately 30% of its GDP. She also believes that officials should take a thorough look at the size of its public sector.

One of the business leaders we met with was Dennys S. Plessas, Vice President of Business Development Initiatives for Europe, the Middle East, and Africa, for Lockheed Martin Aeronautics Co. He told us that Greece needs to isolate and to focus on its competitive advantage moving forward. He says the country needs to focus on exports of certain products as well as expanding its education system.

The political turmoil that accompanies this economic crisis has made addressing policy issues in Greece more difficult.

Greek officials are also dealing with an ongoing diplomatic dispute with their northern neighbor, the former Yugoslavian Republic of Macedonia (FYROM), over the name “Macedonia” itself. The Greek government maintains that the Republic of Macedonia should include a qualification such as “northern” to differentiate itself from the neighboring Greek region also called Macedonia.  While Greek and Macedonian officials continue to debate the issue, the UN has agreed to accept any final agreement the two countries are able to reach.

Also, relations with Turkey still remain strained due to an increasing number of Turkish flyovers in Greek airspace. As a result, Greece finds it necessary to continue to spend a large amount of its GDP on its military, while those funds are badly needed elsewhere.

UW Foster School MBA student Aspasia Bartell meets Greek President Karolos Papoulias
UW Foster School MBA student Aspasia Bartell meets Greek President Karolos Papoulias

We were fortunate to meet with Dr. Karolos Papoulias, the President of Greece.  President Papoulias used our visit as opportunity to thank President Obama for his political help with the financial crisis. He ended our meeting with a powerful message that the Greek people possess an incredible amount of strength and ambition and they will emerge from this crisis.

This trip was a phenomenal experience that illustrated how the world is becoming increasingly interconnected and that the business leaders of both today and tomorrow need to have an international view. During this trip I saw how leaders from different countries often view situations through their own cultural lens. The ability to recognize this and to attempt to see issues from the cultural viewpoint of another leader is an important skill when working in the international sphere.

Woodworth International Scholar Award

Hoss_WoodworthCertificate of International Studies in Business (CISB) student Jennifer Hoss was happily surprised when she was called into Faculty Director Debra Glassman’s office one afternoon in spring quarter 2011. There, she found out she had been selected to receive the inaugural Woodworth International Scholar Award.

Funded by Bob Woodworth, emeritus faculty member in Management and Organization and former CISB Faculty Director, the $1,000 award, which comes with a globe-themed trophy, goes to a high-achieving student who excels academically, demonstrates bilingual/bicultural skills and has high potential to contribute to the U.S. balance of trade.

Jennifer was a sophomore entrant into the CISB program and served as Spanish Track Co-President in 2010-2011. She studied abroad in Granada, Spain in summer 2009, followed by a marketing internship at Cosmen and Keiless in Madrid in autumn 2009. After graduation in June, 2011, she traveled through New Zealand and Australia before beginning a job in the Product Marketing Department of Physio-Control, where she is Associate Product Manager.

Jennifer says, “This award was really a special surprise. The money allowed me to extend my travels and see even more of Australia and New Zealand. And the globe sits on my desk at my new job where I already have the opportunity to work on international projects. I can’t thank Mr. Woodworth enough for such an extraordinary honor.”

Learn more about the Certificate of International Studies in Business.

Students connect with professionals

Costco Field TripThe Certificate of International Studies in Business (CISB) tracks have been exploring out-of-classroom activities by organizing field trips to local internationally-focused businesses. Many of these trips have been set up by partnering with CISB alumni. Not only is this a great way for alumni to get involved, it also allows current students to see where a CISB certificate can take them, and is a great way for them to learn more about some exciting local companies. Here are a few highlights:

Spanish Track:
In February, 2011, the Spanish track went on a trip to the Starbucks headquarters, where they met with CISB Spanish Track alumna Julie Anderson, Ethical Sourcing Manager in the Department of Global Responsibility, along with a colleague of hers. After being given a tour of the office, students were taken to the tasting room where they learned about the process Starbucks uses when choosing coffee beans to be used in production. They even got to sample some different coffee roasts for themselves! Students were then shown a short presentation highlighting the C.A.F.E. program for Ethical Sourcing, which ensures an overall ethical cultivation, distribution, and selling process.

Japanese and Chinese Tracks:
In January 2011, the Japanese and Chinese tracks had the opportunity to tour the new Seattle Amazon.com campus and learn more about this internationally-focused company. Carson Chu, a CISB Japanese track honorary alumnus, has worked at Amazon for six years and is now manager of the Shares Services Asia Department. He showed the students around the facility and talked about the company’s current activities and future vision. The students heard about Amazon’s current developments in the China market and how skills learned as a CISB student can be applied in the workplace.

After the trip, Carson invited two of the Japanese track members, both candidates for Amazon Financial Analyst positions, to meet with him and do mock interviews to prepare for the official job interviews.

The Japanese track also met informally with Costco CEO Jim Sinegal during a field trip to the company in May, 2011.

German Track:
Bob Vollbracht, Regional Director, UPS Supply Chain Solutions, hosted the German track at the Auburn, Washington facility in October, 2010. The students witnessed cross-dock transloading operations, got an up-close look at various trucks, containers, cargo and equipment, and received an explanation on warehouse inventory management.

Students Ashley Matsumoto and Darcy Lloyd said, “We are grateful for the many benefits that CISB provides, not only in preparation for international business jobs and careers but in helping us connect with our amazing alumni and local international companies.”

Learn more about the Certificate of International Studies in Business.

Informed innovation: interview with Steve Tolton of Petrocard

Guest blog post by Rita Brogan, CEO of PRR

RitaBrogan

The Brogan Blog had a chance recently to chat with Steve Tolton, the CEO of PetroCard, a leading Pacific Northwest fuel and lubrication distributor. PetroCard, specializes in unattended stations that use a proprietary card lock technology to provide fuel to commercial customers that can be as large as Pepsico or as small as the one-truck plumber down the street.

And it may be one of the largest companies you’ve never heard of.

In 2010, PetroCard grossed over $900 million. PetroCard was ranked last year as the fifth largest privately held corporation in Washington State.  It is owned by Bristol Bay Native Corporation (BBNC) formed under the Alaska Native Claims Settlement Act of 1971.  BBNC is owned by about 8,200 Eskimo, Indian and Aleut shareholders.

PetroCard started in 1997, when Steve Tolton, then the Chief Financial Officer of BBNC, was looking for promising investments.  He partnered with banker Tom Farr, who saw an opportunity to consolidate the fragmented card lock business, starting with the purchase of a small company called PetroCard.

Neither Steve or Tom knew much about petroleum.  But they knew a good business opportunity when they saw it.  In less than 15 years, PetroCard has gone from 25 million gallons to 300 million gallons of fuel sales per year and it has leveraged its base business into other compatible business ventures

Steve Tolton attributes PetroCard’s success to focus on its customer base..   Their regional customers include school fleets and taxis, as well as Waste Management vehicles.”

“We touch our customers a thousand times a day,” says Tolton.  “We stay abreast of trends so we can offer solutions to our customers before they have to ask for them.”  Innovation means knowing how to manage risk with great due diligence.

“It is rare to hit a complete home run,” says Tolton.  He noted, however that the “Clean N’ Green” fuel stations, PetroCard’s partnership with Waste Management, has come pretty close to a homerun—exceeding all  expectations.

“For the last two years, we’ve been operating commercial natural gas stations, because of the continued expansion in the area of compressed natural gas,” said Tolton.

Tolton has grown PetroCard, but  does not believe in growth for its own sake.  “We focus on our commercial customers fueling and lube solutions, even though we may see other opportunities,” he said.  “We’re better at taking a decent companies and helping make them better.” PetroCard’s venture into natural gas has been an entrepreneurial “home run,” built on a deep understanding of industry trends and changing customer needs, including the need for a cost-competitive product in an emerging market.

Rita Brogan is the CEO of PRR, a public affairs and communications firm based in Seattle, one of Washington’s 50 largest minority-owned businesses. Brogan was a recent recipient of the Foster School’s Business and Economic Development Center Asian/Pacific Islander Business Leadership Award. She writes the BEDC Brogan blog series monthly. Previously, she covered green economy issues with an emphasis on ways that businesses owned by people of color or women can create a competitive advantage. Her current blog topic focus is on innovation.

Out to launch: great start-up stories from CIE alumni

In the 14 years that CIE has produced its annual Business Plan Competition, we’ve had 2,768 students (891 teams) participate in the spring event. We’ve awarded $1.08 million in seed funding to 95 winning teams. Many of them have gone on to make us proud. Here are updates on four of them.

Gravity Payments is the largest payment processor in Washington state. Dan Price, founder and CEO of Gravity Payments, started Gravity Payments in 2004 during his freshman year at Seattle Pacific University. The company has grown by focusing on customer service, transparency and low rates. The company won Second Prize and the Best Service/Retail Idea Prize in the 2007 UW Business Plan Competition.

Dan Price, Gravity Payments CEO, with President Obama

  • Dan Price named Small Business Administration Young Entrepreneur of the Year for 2010 by President Obama
  • Increased revenue by 70% in 2010
  • Has grown from 45 to 65 employees in the first five months of 2011
  • Serves nearly 10,000 customers around the United States
  • Donated over $100,000 in 2010 to non-profits focused on alleviating global poverty, local poverty, local disease research and prevention and other local community needs

Cadence Biomedical (formerly Empowering Engineering Technologies) is developing a new class of kinetic orthotic products based on proprietary technologies that utilize long springs and a series of cams to amplify muscular strength for people with disabilities. Cadence’s products provide therapeutic rehabilitation for people who would otherwise require wheelchairs for mobility. The company won Second Prize and the Best Technology Idea Prize in the 2010 UW Business Plan Competition.

  • Helped a woman with Lou Gehrig’s Disease take her first steps on her own since 2005
  • Secured $310,000 in equity financing and $280,000 in non-dilutive grants from the US Army
  • Received regulatory approval to begin a scientific study investigating the benefits of the device and is seeking research subjects with severe mobility impairments in the greater Seattle area to test the prototype device
  • Changed the company name to better describe its mission and establish the company’s brand as it moves forward to product launch
  • Was one of six technology start-ups chosen as finalists by the MIT Enterprise Forum of the Northwest and presented the device at the Northwest Start-up DEMO event in May

Krochet Kidz is a non-profit that exists to empower people to rise above poverty. Their slogan is “Buy a Hat, Change a Life.” They won the Best Non-Profit/Socially Responsible Prize in the 2008 UW Business Plan Competition.

Children working with Krochet Kidz

  • Sells its products in Active Ride Shops, Zebra Club Stores and Nordstrom’s department stores across the United States, as well as online
  • Has grown from employing 10 women to over 100 people in Northern Uganda, enabling more than 600 people to have the food, water, clothing and education necessary to lead healthy, productive lives
  • Plans to launch a similar program in Peru in 2011
  • Featured in a Bing commercial

Emergent Detection created a patent-pending optical sensor technology that has a variety of applications within the health space. The company’s initial product, BodyKey, gives weight-loss seekers an immediate reading of how much fat they have burned from their diet and fitness efforts. Additionally, the accompanying web-based application provides useful tools that allow users to track their daily progress, helps them select foods and exercise programs that are ideal for their body and provides accurate forecasting so they know how long it will take to reach their weight loss goal. The company won a Finalist Prize in the 2010 UW Business Plan Competition.

Emergent Detection founders with prototype sensor

  • Secured $330,000 in funding, both angel investors and non-dilutive capital from grants and awards
  • Produced functional engineering prototypes of the BodyKey™ device. Over the last eight months co-founder Eric Fogel, as “Exhibit A” for the company, has lost more than 60 pounds using the device
  • Working with a product development firm to produce the next generation units, which will deploy into a field beta test with users later this summer
  • Attended the first Quantified Self Conference in Silicon Valley in May, where technology enthusiasts and early adopters gave the start-up great feedback and opportunities for partnering

Video: Richard Tait on entrepreneurship and Cranium

Cranium co-founder Richard Tait discusses his passion for entrepreneurship, the inspiration behind Cranium and his latest business venture, Golazo. He considers himself an inventor and at the top of his game when combining invention with entrepreneurship. Interviewed by UW Foster School of Business student Vance Roush (BA 2011), Tait offers inspiring insights about his leadership philosophy and how he captures trends to start new ventures.

“Entrepreneurship is about galvanizing teams of people around a mission. …the development and pursuit of a passionate dream,” says Tait. “I’m driven by a fear of failure rather than the glow of success. For me, it’s not about the prize, it’s more about the journey.”

Tait also believes everyone has a creative spirit and while society sometimes squashes that, it is in all of us.

This video is part of a series of entrepreneur interviews conducted by University of Washington undergraduate students who are involved in the UW Foster School of Business Lavin Entrepreneurial Action Program.

Foster MBAs summit Mount Rainier and raise $7000 for charity

Guest post by Anders Zwartjes (Foster MBA 2012)

Foster MBA students climb Mt. Rainier's Emmons Glacier

This 4th of July, as the sun crept above the Cascades in the east and many hours before the fireworks would start exploding above Seattle, a team of 11 tired but excited UW Foster MBA students stood at the top of the tallest mountain in Washington state. The group had started the ascent six and a half hours earlier, but had truly started their journey six months earlier during winter quarter.

What began in January of 2011 as an idea to take an exercise from Professor Michael Johnson’s leadership class a step further and to raise money for the Foster MBA Challenge for Charity fundraising drive, quickly took form and resulted in six months of dedicated training and preparation. Although the group that stood on the Summit of Mount Rainier numbered only 11, the entire effort was successful thanks to the support of more than 100 Foster students, faculty, staff, plus friends and family. As a result of their help, the climb raised $7,000 for the Boys and Girls Club and Special Olympics of Washington.

On the mountain, teamwork and discipline were key. During the final ascent up Rainier’s Emmons glacier the group was divided into three different rope teams, with each member paying fastidious attention to the progress of those around them and the tension of the lines as the teams passed over more than a dozen crevasses. Communication is key to a successful ascent, and everyone looked after each other as the elevation increased and the temperature dropped. Collaboration was of even greater importance on the way down, as joint problem solving quickly fixed the few obstacles our group encountered.

As the sun dropped on July 4, 2011, the line of tired MBA students arrived at their cars, tired but healthy and jubilant about the climb. While one party member had been forced by altitude sickness to stay at base camp, the day had seen 11 climbers successfully make it to the top of one of Washington’s greatest natural wonders, but even more importantly marked the safe end to a trying but hugely rewarding feat.

A view from inside one MBA student's tent on the Mt. Rainier trek

This experience would not have been possible without community support. MBA climbers would like to add a special thank you to Eli Rosenberg and Eric Docktor for assisting in climbing training and helping to lead the team up the mountain. We would also like to extend a heartfelt thank you to Scott Heinz for patient coaching, impeccable focus on safety, constant encouragement and altogether exemplary leadership.

“It’s a round trip. Getting to the summit is optional, getting down is mandatory.” – Ed Viesturs

Entrepreneurship in action: Lavin class of 2011

Lavin 2011 GraduatesThe Lavin Entrepreneurial Action Program prepares a select group of entering University of Washington undergraduates for careers as entrepreneurs and is graduating its first class of students in 2011. Our first class is headed out into the world to put what they learned at the UW into action.

The Lavin Program exposes students from business and other disciplines to the risks and rewards of entrepreneurship—all in a safe environment. Students graduate with a comprehensive understanding of entrepreneurship in its various forms, including experience in starting and running their own company, and a summer internship in an early-stage firm. The Lavin Program integrates students into the local entrepreneurial community by providing networking opportunities and experienced mentors.

A common trait among Lavin students is the degree to which they have been involved in the program and in the educational process as a whole. Lavin students tend to be the cream of the crop, and the 2011 graduates all demonstrate that trait. Keep your eye on them—we’re certain you’ll see these names again.


Denise Ching
graduated at the end of fall quarter from the Foster School of Business in marketing and entrepreneurship. Ching did her Lavin internship at Dry Soda in Seattle and is now working for Google in California. She has her eye on eventually launching an events management business.

Sohroosh Hashemi graduated from the Foster School of Business in entrepreneurship. Sohroosh did a study-abroad program in Spain and recently presented student-designed products at the International Contemporary Furniture Fair in New York. He interned at PhotoRocket in Seattle, a photo-sharing start-up, where he is currently employed.

Christy Loftus graduated from the UW College of Arts and Sciences with a degree in communications. She worked in small start-ups along the way and decided to do her Lavin internship at Wunderman, a major international marketing agency in a digital media division. Now employed by MediaEdge Marketing, Loftus’ dream is to someday open her own marketing company.

Vance Roush graduated from the Foster School of Business in marketing and information systems. Roush studied abroad in Italy and South Africa. He did his Lavin internship at 16 Copenhagen, a Seattle design company, where he honed the skills he needed to create a lasting legacy with the Lavin Program. Roush developed the Entrepreneurship Video Project which has spawned the creation of six videos of students interviewing local entrepreneurs. The over-arching theme of “Entrepreneurship is…” has provoked answers such as “art,” “a good team” and “a passionate dream.” The project will continue over the next several years. Roush will work for Google in California starting in August.

Natasha Tyson graduated from the Foster School of Business in marketing and entrepreneurship. She studied abroad in Hong Kong on a direct-exchange program. Tyson did an internship at Chempoint and another at FounderDating, a Seattle organization that works to match technology and business founders. She is joining Teach for America.

The program’s namesake, Leonard Lavin, attended UW in the late 1930s on a basketball scholarship. In the 1950s Leonard and his wife, Bernice, founded Alberto-Culver and took Alberto V05 Conditioning Hairdressing to the consumer marketplace using innovative advertising and marketing strategies. Alberto-Culver was bought by the Unilever Group last year for $3.7 billion. Leonard and Bernice Lavin created the Lavin Entrepreneurial Action Program in 2007 to produce a new generation of successful entrepreneurs from the UW.

PotaVida purifies water, wins $25K Grand Prize at UW Business Plan Competition

A demonstration of the PotaVida water purifier.The numbers say it all: 891 teams. $1.08 million in seed funding. 2,768 students from 21 colleges and universities. Those are just a few of the stats we’ve racked up in the 14 years of the University of Washington’s Business Plan Competition.

During his keynote speech at the awards dinner, T.A. McCann, CEO of Gist, spoke about courage, persistence and failure — three cornerstones to life as a successful entrepreneur. “To be an entrepreneur takes a tremendous amount of courage. It takes a tremendous amount of courage to continue to dust yourself off when you fail. And failure happens in every entrepreneurial company almost on a daily basis,” he said. But with that uncertainty comes the reward of being part of a supportive and inspiring community of entrepreneurs in the Northwest. “You’re fortunate to have UW, to have each other, to have the advisors, mentors…and all the organizations that are here. You’re incredibly fortunate to be part of this community. I’ve been in Seattle now about 15 years and I think it’s only getting better. I think we’re on the cusp of becoming one of the top entrepreneurial communities anywhere. Period.”

A record 104 teams entered the competition this year from nine colleges and universities around Washington. Nearly 400 judges and mentors—entrepreneurs, venture capitalists, investors and supporters from the community—gave their time and energy to be part of the competition during the various rounds. Beginning in early April, the teams where whittled down, first to 37 after the screening round, then to the “Sweet 16” after the investment round.

At the end of the day on May 26, five teams were left standing but only one would take home the $25,000 grand prize. After one more round of presentations from the finalists, the judges made a unanimous decision on the winning teams:

$25,000 Herbert B. Jones Foundation Grand Prize: PotaVida, UW
Provides a low-cost, reusable tool that takes the guesswork out of solar disinfection of water, for use in disaster relief and areas lacking potable water.
Tyler Davis, PhD Evans School of Public Policy; Damon Gjording, EMBA; Charlie Matlack, PhD electrical engineering; and Jacqueline Linnes

$10,000 WRF Capital Second Prize: Stockbox Grocers, Bainbridge Graduate Institute
A mini grocer tucked inside a reclaimed shipping container, to provide fresh produce and basic staples in urban food deserts.
Michael Brooks, MBA; Carrie Ferrence, MBA; Jacqueline Gjurgevich, MBA; and Eliza Michiels, MBA

$5,000 Blue Box Group Finalist Prize: Solanux, WSU, University of Idaho
Produces patented potato food ingredients with high amounts of resistant starch which help lower a person’s glycemic index response, improve insulin levels and lower fat and cholesterol levels.
Gaylene Anderson, EMBA; Anna Hansen, accounting; and Jacob Pierson, JD law

$5,000 Fenwick & West Finalist Prize: LodeSpin Labs, UW
Manufactures tracers for Magnetic Particle Imaging, a new medical imaging technology capable of replacing CT and MRI for imaging patients with heart disease and cancer.
Dave Shivang, PhD bioengineering; Matt Ferguson, PhD materials science; Amit Khandhar, PhD materials science; and Garrett Leischner, MBA

The Best Idea prizes were created to reward teams for their exceptional work in several different categories. Teams that participated in the Investment Round were eligible for these awards, regardless of whether they advanced to the Sweet 16 or not. This year six $2,500 Best Idea Prizes were awarded to the following teams:

UIEvolution Best Technology Idea: Aqueduct Neurosciences, UW
Gist Best Consumer Product Idea: Tripbox, UW
Perkins Coie Best Innovation Idea: PotaVida, UW
DLA Piper Best Service/Retail Idea: Stockbox Grocers, Bainbridge Graduate Institute
Synapse Product Development Best Clean-Tech Idea: Static Flow Analytics, UW
Sensors in Motion Best Sustainable Advantage Idea: Urban Canopy, UW

For teams that made it to the Sweet 16, the fun’s not over yet. Each of the semifinal teams is eligible to receive additional seed funding through the Jones Foundation Milestone Achievement Awards. Five teams will be selected to spend the next six months participating in the program where they will work with CIE staff and a special advisory committee made up of CIE board members and past winners of the Business Plan Competition to draw up a short list of “realistic but measureable” milestones they can reach within that timeframe. And with a lot of hard work on the part of the teams (and a little luck), we’ll share all their great success stories with you again this time next year.

- Faculty perspectives, alumni happenings, student experiences, Seattle and Pacific Northwest community connections, and a taste of life around the Foster School.