PROVIDENCE – The Rhode Island Business Plan Competition has announced this year’s six semifinalists for each of its three competition tracks.
The 18 semifinalists will compete for almost $200,000 in cash and in-kind prizes next month.
This year, 61 business plans were submitted for the competition, an increase from last year’s 57 applications. There were 26 applicants in the entrepreneur track, 24 in the student track, and 11 in the green track.
“The breadth of ideas submitted was impressive and indicates the strength of the local entrepreneur community,” said Garrett B. Hunter, competition co-chair and Rhode Island Chairman of CDC New England. Submitted plans ranged from the consumer, Internet, and software industries to health care, biotechnology and manufacturing.
“Choosing the semifinalists is an enjoyable challenge, because many of the plans, even those that didn’t get selected, have great potential,” said competition co-chair Larry Davidson, a principal with Kahn, Litwin, Renza & Co.
Later this month, the semifinalists will be narrowed down to three in each track for a total of nine finalists. The winners will be announced on May 4 at the Business Expo 2010 in Providence.
Entrepreneur Track Semifinalists (all descriptions provided by contest organizers)
95bits – Developing a highly-targeted, contextual barcode ad-serving network that aims to optimize return on investment for advertisers. Principal applicant: Andres Douglas, Providence.
e3 Classroom Sync – Software that allows the use of new kinds of classroom materials, reduces paper consumption, and makes the classroom more efficient. Principal applicant: Danato Borelli, Providence.
Microtissues Inc. – A technology that grows human cells in three dimensions, enabling them to function more like natural tissues and organs. Principal applicant: Jeffrey Morgan, Sharon, Mass.
ProThera Biologics – Developing Inter-Alpha Inhibitor Proteins to treat systemic inflammatory response syndrome and sepsis. Principal applicant: Richard Andrews, East Providence.
The Granny Squibb Company LLC – Looking to grow the company, which produces an all-natural, bottled iced tea formulated from a 100-year-old recipe. Principal applicant: Robin Squibb, Providence.
Violet’s Passion Coffee – Developing an instant coffee cube containing sugar and flavor that can be prepared anywhere. Principal applicant: Nancy Zapata Faella, Johnston.
Green Track Semifinalists
Aten Energy Conservation – Will provide energy conservation services to home and small business owners along with comprehensive energy audits. Principal applicant: Matthew Banoub, Swansea.
Elecar Inc. – Developing a line of charging products for electric vehicles to be installed in homes, parking garages, business lots and city streets. Principal applicant: Andrew Antar, Providence.
Gencars – Developing a patented shock absorber that creates electricity for hybrid vehicles from wasted kinetic energy of shock absorbers. Principal applicant: Nicholas Gencarelle, Newport.
Inspire Green – Selling reusable filtered water bottles to universities and businesses looking to go green. Principal applicant: Morgan Morris, Smithfield.
Newport Biodiesel – Developing a method of sustainable biodiesel production through local collection of waste vegetable oil and local production of biodiesel. Principal applicant: Chris Benzak, Newport.
Renewables Inc. – Developing prefabricated small wind and solar systems based on a proprietary technology. Principal applicant: Erik Monostory, Warren.
Student Track Semifinalists
Booklupe – An online book swapping and eBook renting and buying social network for college students. Principal applicant: Nathaniel Epps, Johnson and Wales University.
JobLink – An online service that connects college students to local businesses and employers, as well as resume and portfolio hosting. Principal applicant: Walker Williams, Brown University.
SEMTEC – Developing a line of coated endotracheal tubes, central-line catheters, and urinary catheters to help prevent hospital-acquired infections. Principal applicant: Rehim Popatia, Brown University.
Solubricin Technologies – Creating a catheter coating designed to fight urinary tract infections. Principal applicant: Brian Neff, Brown University.
Speramus – An online fundraising platform that uses a proprietary ranking system to match donors with individual support opportunities. Principal applicant: Ryan Chan, Brown University.
Ulterius Enterprises – Developing a patented technology to solve thermal inefficiencies in biotechnology equipment. Principal applicant: Juan Vasconez, Brown University.
Additional information is available at ri-bizplan.com.
