Tag Archives: business plan competition

Foster School students win 2nd place at BYU Business Language Case Competition

Although belated, the Global Business Center would like to extend an enormous congratulations to Janet Yang, Gail Letrondo, and Saya Kashiwamura who won 2nd place in the Chinese track of the BYU Business Language Case Competition on November 7th.

The Brigham Young University Business Language Case Competition is a unique opportunity for students to showcase their business acumen and foreign language skills by analyzing a real-life global business problem, and presenting their solution to a panel of judges made up of international business professionals in a non-native language.

These three young women competed against teams from prestigious universities across the country. They did an outstanding job analyzing the case and presenting their solution – in Mandarin Chinese! Judges were impressed by the insightful and innovative problem solving and detailed financial reports presented by the University of Washington team.

Lessons for student entrepreneurs

Dan Price
Dan Price speaking at the Business Plan Competition Dinner and Awards Ceremony

As a student at Seattle Pacific University, Dan Price won second place in the 2007 UW Business Plan Competition for Gravity Payments. This year he was the keynote speaker at the UW Business Plan Competition Awards Dinner on May 22. Price shared his personal story and the lessons he learned while building Gravity Payments into one the fastest growing credit card processing companies. His advice for student entrepreneurs:

Dive in. One important lesson for all entrepreneurs is to learn how to dive in and get things done—even when you don’t know exactly what you’re doing. Price shared what happened to him in 2008 when the financial collapse hit. First, 20% of his revenue evaporated overnight. Next, two of his major clients filed for bankruptcy leaving him with the prospect of losing $1.3 million, which would have left him with just $200K in the bank. But instead of panicking, he started learning everything he could about bankruptcy law and was appointed to the official committee for unsecured creditors for both bankruptcy cases. In the end, Gravity Payments didn’t lose the entire $1.3 million.

Make incremental progress. He also made the point that building a company is about making incremental progress each day. Instead of focusing on everything that needs to be done, do what you can see today.

Be open to change. You’re not going to follow your business plan exactly like you think you are. He said, “You’re going to shred it. You’re going to redo it.” It’s important to be flexible and open to change to meet demands. He said, “We’re doing things in our business I never imagined we would do.”

Support successful people traits. He concluded with a challenge to the audience. He showed an image depicting successful people versus unsuccessful people. Successful people share information, keep a journal, want others to be successful, while unsuccessful people fear change, secretly hope others fail and criticize others. Price challenged everyone to create a world where the successful people traits thrive.

He also shared his life philosophy that we should enjoy our time on earth as much as possible and be as happy as possible, and have that, not money, represent true happiness. You can also read GeekWire’s coverage of Price’s talk here.

BPC bonanza

Guest post by Claire Koerner, co-founder of nomON and Foster School class of 2014
nomON is a randomized food delivery app. Claire and the rest of the nomON team competed in the 2013 UW Business Plan Competition and made it into the Sweet 16 round. In this guest post, Claire reflects on the BPC experience and lessons learned.

nomON for blog postnomON’s Business Plan Competition (BPC) journey drew to a close on May 23 at the Awards Dinner amid friends, mentors, and fans. After two months of hard work, we were all very eager to reach the culmination of the event, and be able to look back at all we have learned along the way. At the beginning of the BPC, we had a 7 page executive summary that was absolutely gorgeous (thanks to Tarryn!) but with some major holes. Our financials were complete estimates, we had yet to sort out credit card processing, and much of our plan was built upon assumptions. After advancing to the investment round, we had the chance to perfect our 2 minute pitches for judges, create nomON swag, and start raising hype about the brand. But it was when we advanced to the Sweet 16 (yay!!) that the learning really began: we met with multiple coaches and mentors – thank you Sanjay Kumar, Craig Sherman, Emer Dooley, Charles Seybold and several others along the way- who helped us find and fill the holes in our business. nomON went from being a quirky mobile app cobbled together at Startup Weekend to a real business with well thought out financial projections (you should see the spreadsheets), a solid partnership with ordr.in, and an entirely new user interface. What a roller coaster! Although we didn’t advance to the Final Four, nomON is now armed with a full 15 page business plan, an investor slide deck, and most of all, important insights and truths about our business. Thank you to the Buerk Center for Entrepreneurship and everyone who helped us during this process. We are excited to move forward with the business, continue learning and improving, and most of all…bring nomON to you soon!

Top 5 things we learned:

  1. Businesses are hard- the to do list keeps growing, no matter how many things you check off
  2. Pitch to everyone- you never know who is going to have a random genius insight
  3. All it takes to keep a designer happy is free-flowing white chocolate mochas with extra whip
  4. Practice makes perfect
  5. Businesses are fun- the deeper you go, the more you learn, and the more you love your team :)

The nomON team:
Claire Koerner – Business Administration (Marketing)
Stephanie Halamek – BA (Finance)
Tarryn Marcus – BA (Entrepreneurship)
Evan Cohen – Informatics
William Voit – Electrical Engineering

$68,220 awarded to UW Business Plan Competition winners

PureBlue Grand Prize
Grand Prize winner Pure Blue Technologies with Michael Bauer, president of the Herbert B. Jones Foundation

May 23, 2013 – Seattle’s Bell Harbor buzzed with energy as a record $68,220 in seed funding was awarded to winners of the 2013 UW Business Plan Competition.

Over 250 Judges, coaches, and team members gathered at the 16th annual Business Plan Competition Awards Dinner. After a celebration of Artie and Sue Buerk’s $5.2 million naming gift for the Center, Kabir Shahani, CEO of Appature, gave a funny and heartfelt keynote speech, offering these words of wisdom: “Entrepreneurship is a platform for your life, and that platform lets you do anything you want to do. If you want to change the world, you can do it. The only question is ‘how many times over?’”

Shahani’s words were 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.

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

 Winners

$25,000 Grand Prize – Pure Blue Technologies (UW)
Fossil fuel production generates 882 billion gallons of contaminated “produced water” per year in the US alone. On average, for every barrel of oil extracted in the US, 8 barrels of contaminated water are extracted to the surface. Pure Blue Technologies has developed a contaminated water treatment system that uses visible light photo disinfection technology to produce disinfected water for beneficial reuse.
Pure Blue Technologies won second place at this year’s UW Environmental Innovation Challenge.

Team:Jaffer Alali, MS Environmental Engineering; Adam Greenberg, BA Finance and Entrepreneurship;  Michael Lee, MS Mechanical Engineering; Alan Luo, PhD Physics; Sep Makhous, PhD Electrical Engineering; Ryan Vogel, BA Finance and Entrepreneurship; Ian Tan, BA Finance; Nicholas Wang, BA Chemical Engineering

 

Z Girls Second Place
Z Girls

$13,220 Second Place Prize – Z Girls (UW)
Studies show that adolescent girls who participate in sports  are more self-confident, get better grades, are less likely to engage in at-risk behaviors, and are more likely to go to college. Unfortunately, by age 14, girls drop out of sports at twice the rate of boys. Z Girls has developed a sports-based curriculum that gives girls ages 11-14 the opportunity to develop skills like goal-setting, positive self-image, and healthy nutrition habits through team programs and summer camps.

Final Round Judge Steve Singh, CEO of Concur, remarked, “Z Girls is an inspiring business lead by some amazing founders that could be doing anything in life. Incredible.”

 

Team:  Libby Ludlow, JD and Technology Entrepreneurship Certificate; Jacob Dudek; Jilyne Higgins

 

PolyDrop Finalist Prize
PolyDrop with Craig Sherman of Wilson Sonsini Goodrich & Rosati

$5,000 Finalist Prize – Poly Drop (UW)
Conductive coating is used to move electrostatic charge across a surface (like the surface of an aircraft), so that it does not accumulate and interfere with electronic equipment or cause sparks that can lead to fire. PolyDrop has created a conductive polymer additive for paints, primers and coatings that is lighter, more affordable, longer lasting, and has better adhesion than other products on the market.

Team: Michele Chaffee, MBA; Olga Hrechka, BS Chemical Engineering; Heather Milligan, BS Chemical Engineering

 

NIA Wheel Finalist Prize
NIA Wheel with Jesse Proudman, CEO of Blue Box

$5,000 Finalist Prize – NIA Wheel (SPU)
NIA Wheel found that 5,596,000 people in the US are paralyzed. 360,000 of those are quadriplegic – confined to a wheelchair with very limited control over their mobility. The NIA (Neurological Impulse Actuator) wheelchair is activated and controlled by the brain function of the user, eliminating the disconnect between mental capability and physical disability of quadriplegics and others who have lost mobility.

Team: Sergey Kisel, BS Electrical Engineering; Clarence Rieu, BS Electrical Engineering; Aryn Schatz, BA Business Administration; Jessica Way, BA Economics

 

Best Idea Prizes

$2,500 Best Technology Idea – PolyDrop (UW)
PolyDrop offers conductive polymer additives for paints, primers and coatings with a significantly lower level of particle loading. Integration of PolyDrop into current production lines of existing formulations is simple and dramatically improves usage lifetime, adhesion and mechanical properties of your product. Team: Michele Chaffee, MBA; Olga Hrechka, BS Chemical Engineering; Heather Milligan, BS Chemical Engineering

$2,500 Best Service/Retail Idea – Z Girls (UW)
Z Girlsmeasurably improves girls’ participation rates in sports by teaching young female athletes skills like positive self-talk, goal-setting, and body image through coaching and camps. Team: Libby Ludlow, JD Law; Jacob Dudek; Jilyne Higgins

$2,500 Best Sustainable Advantage – Pure Blue Technologies (UW)
Pure Blue Technologiesis developing a novel industrial water treatment solution that’s more efficient at a lower cost. Team: Jaffer Alali, MS Environmental Engineering; Adam Greenberg, BA Finance and Entrepreneurship; Michael Lee, MS Mechanical Engineering; Alan Luo, PhD Physics; Sep Makhous, PhD Electrical Engineering; Ryan Vogel, BA Finance and Entrepreneurship; Ian Tan, BA Finance; Nicholas Wang, BA Chemical Engineering

$2,500 Best Innovation Idea – InsuLenz (UW)
InsuLenz is developing a “smart” polymer contact lens to provide a bio-responsive and needle-free insulin delivery platform for diabetics. Team: Nick Au, PhD Medicinal Chemistry; Karen Eaton, PhD Bioengineering; Caleb Gerig, MBA; Craig McNary, MBA; Mohammed Minhaj, MBA; Renuka Ramanathan, PhD Bioengineering

$2,500 Best Consumer Product Idea – iHome3D (UW)
iHome3Dis a mobile app that allows realtors to create a virtual tour and floor plan of a property, in minutes. Team: Nelson Haung, MBA; Aditya Sankar, PhD Computer Science/Engineering

$2,500 Best Cleantech Idea – Biomethane (BGI/WWU/UW)
Biomethanecreates greenhouse-gas-negative vehicle fuel from dairy waste. Team: Jessica Anundson, MBA; Branden Audet, MA Policy Studies; Kathlyn Kinney, MBA; Colby Ochsner, MBA

$5,000 AARP Prize for low-income senior service – NIA Wheel (SPU)
NIA Wheelproduces and sells a brain wave controlled power wheelchair.Team: Sergey Kisel, BS Electrical Engineering; Clarence Rieu, BS Electrical Engineering; Aryn Schatz, BA Business; Jessica Way, BA Economics

Global change marketplace: how the GSEC Trade Show brings the world to UW

trade showOver its nine year history, the Global Social Entrepreneurship Competition (GSEC) at the University of Washington’s Foster School of Business has brought awareness of pressing global issues to thousands of people – student competitors; competition mentors, judges and coaches; university partners; student volunteers; friends, family and supporters. So far, the competition has engaged over 2000 students of diverse educational disciplines and levels from around the world in tackling complex global social problems with entrepreneurial spirit and innovative market-based solutions.

At the competition’s culmination, semi-finalist university student teams (30-60 students per year) from around the world travel to Seattle for a week to learn about social enterprise, receive professional guidance and connections, network with each other and compete for prizes.

GSEC’s cross-cultural exchange is highlighted at the Trade Show, where semi-finalist teams each give their “pitch” to sell their business ideas to Trade Show judges, who act as mock investors, as well as students and community members. They often have prototypes, photos, videos and stories to illustrate the challenges they are facing and the inspirational impacts of their solutions. As a result, these issues become real, even for those who have never experienced them firsthand. Judge Loretta Little explains: “I have always felt and try to teach my kids that we’re citizens of the world. You need to put yourself in other people’s shoes. What better way than to meet people from around the world who are willing to come forward and share problems with you and what they think might be solutions to those problems.”

Teams often use prize money and connections made during GSEC to help launch their business, which can create employment and have other positive social impacts back home. Archived and streaming video of competition events, media coverage locally and in the student competitors’ universities and communities, and even the competitors own blogs and social media extends the education still further – allowing even those who cannot take part in the competition to feel inspired by the innovations being proposed to some of the world’s most pressing problems. Trade Show judge David Parker summed up why he volunteers each year: “The new ideas that are emerging every year from young people – it’s just astounding – they’re already creating patents, engaging with partners for manufacturing new devices, they’ve been able to engage with experts in the geographies of high need that they hope to get their solutions to – I just love seeing that passion, energy and creativity and innovation emerge and I continue to be impressed year after year with the applicants, the competitors and their ideas.”

GSEC is open to currently enrolled degree-seeking students in any discipline, at any level of study, and at any higher education institution worldwide who submits a plan that uses business principles to create a sustainable solution to poverty, health and economic growth in the developing world. Applications for the 10th annual competition are due November 12, 2014. Learn more at http://www.foster.washington.edu/gsec/

The “Sweet 16″ compete for a sweet $25,000

ZGirls_for_blog
Z Girls

Of the 91 student-led teams that submitted business plans to the Buerk Center for Entrepreneurship‘s 2013  Business Plan Competition (BPC), only 16 remain.

After an initial screening round, 36 teams were chosen to pitch their start-up ideas to over 230 judges (entrepreneurs, investors, alumni and community supporters) at the BPC Investment Round. The teams that received the highest investments of “Buerk Center Dollars” earned a spot in the Sweet 16.

These 16 teams have spent the last few weeks editing their business plans, honing their pitches, and learning from some of Seattle’s top lawyers, investors, and entrepreneurs.

On May 23, each team will make a 15-minute investor pitch to a panel of 7 judges. The 4 teams with the best investor pitches will be selected to advance to the Final Round, where they will compete to win a grand prize of $25,000.

Good luck to the Sweet 16, and stay tuned for the results!

Biomethane (BGI)
Biomethane creates greenhouse-gas-negative vehicle fuel from dairy waste.

Cell Focus (UW)
Cell Focus will produce a revolutionary device that turns a cell phone camera into a microscope.

Elemental Hotels (UW)
Welcome to the next generation of Hotels, Elemental Hotels: Minimalistic micro hotel rooms with smart technology and superior design, at $65/Night.

iHome3D (UW)
iHome3D is a mobile app that allows realtors to create a virtual tour and floor plan of a property, in minutes.

InsuLenz (UW)
InsuLenz is developing a “smart” polymer contact lens to provide a bio-responsive and needle-free insulin delivery platform for diabetics.

MakeSpace (UW)
MakeSpace is the Kinkos of 3D printing.  The company is opening its pilot location in Seattle delivering rapid prototyping and services to architectures and industrial designers.

NIA Wheel (SPU)
NIA Wheel produces and sells a brain wave controlled power wheelchair.

nomON (UW)
nomON is a random delivery meal ordering app, like shuffle for dinner.

PolyDrop (UW)
PolyDrop offers conductive polymer additives for paints, primers and coatings with a significantly lower level of particle loading. Integration of PolyDrop into current production lines of existing formulations is simple and dramatically improves usage lifetime, adhesion and mechanical properties of your product.

Pure Blue Technologies (UW)
Pure Blue Technologies is developing a novel industrial water treatment solution that’s more efficient at a lower cost.

ShunTek (UW, Johns Hopkins University)
ShunTek has produced a medical device, ShunTube, that provides a minimally invasive and cost-effective way to minimize blood loss in inferior vena cava trauma by stanching blood flow and simultaneously maintaining venous return; ShunTube also has applications in treating IVC tumors and Liver Cancer.

Sound THC (Seattle U)
Sound THC will produce cannabis candies in the newly legal recreational marijuana market.

Torch Illumination Co. (UW)
Torch Illumination is a candle company with a mission: for every two candles sold, a solar light will be delivered to an individual living without electricity.

TriboTEX (WSU)
TriboTEX is commercializing PhD research to repair industrial machinery during normal operation using nanotechnology.

Vetna (UW)
Vetna brings portable and automated DNA-based diagnostic capabilities to veterinary clinics which could not previously afford the space, capital and training investments.

Z Girls (UW)
Z Girls measurably improves girls’ participation rates in sports by teaching young female athletes skills like positive self-talk, goal-setting, and body image through coaching and camps.

Follow the UW  Business Plan Competition on Twitter: #UWBPC2013