Twelve semifinalists have been named in The University of Toledo’s inaugural Innovation Enterprises Challenge Business Plan Competition.
“This competition was open to all UT faculty, staff and students, with a goal of encouraging a spirit of entrepreneurship within the University,” said Dr. Sonny Ariss, professor and chair of the Management Department in the UT College of Business and Innovation. “We did not know what to expect in terms of participation in the first year of this competition, but we are quite excited to have received a total of 49 entries from individuals within several colleges.”
Ariss added, “The UT community should be proud to have so many talented, enthusiastic, emerging entrepreneurs among us, people who are pursuing their dreams by trying to establish their own business.”
The 12 semifinalists soon will make oral presentations on their projects before a panel of community judges. The winners will be announced Thursday, Dec. 2, with eight winners receiving cash prizes ranging from $500 to $10,000.
UT Innovation Enterprises is providing prize money, and the UT College of Business and Innovation is conducting the business plan competition and offering assistance with business functions such as accounting and marketing.
Rick Stansley, chairman of Innovation Enterprises, said, “This competition reflects UT’s belief in innovative thinking and is intended to advance a creative culture of growth in all areas of the University.”
The 12 semifinalists are:
• Conservation Consulting — The company provides energy consulting services to intermediate-sized users on how to reduce their energy costs.
• Dynamic and Smart Systems Laboratory — The purpose of this device is to improve upon current spinal fusion procedures by making them less invasive and decreasing the patient recovery time.
• Elarya Pharmaceuticals LLC — This product is a haemostatic agent designed to tame bleeding as a clot-protecting agent or to target angiogenisis in cancer.
• HbA1c Monitor — This would be the first fiber-optics-based commercial HbA1c sensor. It is an optical biosensor for accurate real-time monitoring of blood glycated proteins for clinical and home use by people with diabetes, providing for glycemic control.
• Regentiss LLC — This business develops advanced technologies for the treatment and regeneration of both hard and soft craniomaxillofacial tissues (such as bone and cartilage).
• Resonance Group — This product is an energy control system that integrates the new RG controller with state-of-the-art pulse motors and power management technologies for improved performance of electric motor-driven products.
• Saltron — This product is a hand-held device that will measure the dilation of the female cervix in order to monitor the progression of labor accurately and comfortably.
• Smart Orthosis — The creation of a hybrid-active ankle foot orthosis to treat patients with drop foot condition.
• Solar Engineering Solution — The company will deliver new technologies that serve the heating and cooling needs of buildings. These technologies are based on new solar innovations.
• Team ShrivIt — This is an Internet-based review site to share one’s experiences with others by creating and posting short videos and blogs of people’s experiences and feelings about a place, product, service or event.
• Three Sisters’ Bakery — Their products consist of naturally sweetened, no sugar-added baked goods.
• WhatsUpDirectory.com — This is a national events directory providing users with a geographically filtered and categorized view of events.