OCTOBER 10 - 11, 2014 The Ballard Morton NEW VENTURE COMPETITION Follow us @UofLBiz #BallardMorton COMPETITION AND REWARD The first-place team receives $8,000, second place receives $5,000 and third place receives $3,000. Runners-up receive $1,500 each. Teams designated as Forcht Entrepreneurship Fellows receive $1,000 per team member, regardless of their order of finish. Additionally, $500 each is awarded for best Trade Show, Fast Pitch and Business Plan Presentation. Teams use their competition winnings to continue development of their concepts throughout the competition season. Ballard Morton New Venture Competition will pay awards directly to each team’s legally formed entity. To receive payment the proper Vendor Survey and W9 forms must be completely and accurately filled out. The Mountjoy Chilton Medley, LLP, Tax Service Award will be awarded to any U of L College of Business MBA business plan competition team that earns first place honors in a qualifying competition and forms a legal entity in Kentucky within 2014-2015. The service will include tax preparation for the initial year for the newly-formed Kentucky entity. The first-place team will have its choice between representing the college in the 2015 Brown-Forman Cardinal Challenge (a Venture Labs Investment Competition qualifying competition hosted by the UofL College of Business) or at the 2015 Idea State U. competition (Kentucky’s statewide business concept and business plan competition). All finalist teams will have the opportunity to represent the College of Business in regional, national or international collegiate business plan competitions. PROCEEDINGS BUSINESS PLAN PRESENTATIONS Saturday, October 11, 8:30 a.m. to 12:00 p.m. PNC Horn Auditorium, Harry Frazier Hall, College of Business Each team will make a 15-minute presentation on its new venture idea, followed by 20 minutes of questions from the panel of judges. Presentation order was determined by random draw. 8:30 a.m. to 8:35 a.m. Opening Remarks 8:35 a.m. to 9:10 a.m. Homegrown Brewing Company 9:20 a.m. to 9:55 a.m. InScope Medical Solutions 10:05 a.m. to 10:40 a.m. Engagely 10:50 a.m. to 11:25 a.m. Quake Tech 11:25 a.m. to 12:00 p.m. Judges’ Deliberation Awards will be announced at approximately 12:00 p.m. JUDGING CRITERIA Judges use an evaluation form adapted from Venture Labs Investment Competition designed to assess the written business plan, the poise and professionalism of the presentation and the viability of the venture. This quantitative assessment is meant to complement, not replace, the qualitative evaluation of the judges in their determination of winners. Teams for this year’s competition were selected from concepts developed by UofL Entrepreneurship MBA students. Preliminary round judges were Jenny Corbin (Marketing Director, MediVet America), Larry Horn (Co-Founder, TNG Pharmaceuticals & Liberate Medical), Zach Pennington (CEO, US Chia), Viji Sundar (restaurateur and entrepreneur), and Joe Rotella (Hosparus Chief Medical Officer) -- all UofL Entrepreneurship MBA graduates. TRADE SHOW & FAST PITCH COMPETITION Friday, October 10, 6:30 p.m. to 8:00 p.m. Atrium, Harry Frazier Hall, College of Business Judges are Vesta Brue, CEO/Founder, MedSignals/VitalSignals; Jennifer Williams, Chief Cloning Officer, Cuddle Clones LLC; Martin McClelland, President, Regent Investment Management, LLC. See judges’ bios on back page of program. Follow us @UofLBiz #BallardMorton THE TEAMS AND THEIR COMPANIES Quake Tech (Christopher Head, Jatin Jatin) Engagely (Gil Roberts, Christopher Shelton, Ben Gries) Engagely provides the next generation of website security while allowing web publishers and data buyers to gain real-time insights from legitimate visitors. Using proprietary human verification algorithms developed by two UofL PhD students, our Survette polls visitors, instead of asking them to type in squiggly fuzzy letters. Web publishers use Survette to better understand their customers and prove user demographics to advertisers, winning better ad revenue while decreasing costs associated with spam. Engagely leverages this website network by selling access to data firms, brand managers, and market researchers interested in gauging consumer preference, brand awareness, customer loyalty, and other insights. Quake Tech delivers a breakthrough, patent-pending technology that works to predict and assess the risk of a high-magnitude earthquake (8.0 or above) up to 40 minutes before it will occur. Quake Tech’s high-confidence data and proprietary predictive model will assist government agencies, NGOs, and businesses in their decisionmaking processes to ensure quality protocols are in place, disaster readiness is achieved, and economic losses from secondary effects of high-magnitude earthquakes are minimized. Quake Tech’s initial entry into the market targets financial services companies, re-insurers, and asset management companies managing significant investment portfolios in the Northeast Asian region. Faculty Coaches: Professor Van Clouse & Entrepreneur-inResidence Suzanne Bergmeister Faculty Coaches: Professor Van Clouse & Entrepreneur-inResidence Suzanne Bergmeister Homegrown Brewing Company (Kelley Crush, Matt Teives) Homegrown Brewing Company is an innovative concept for a microbrewery that will collaborate with the local craft beer community to create its beer. We will host contests for home brewers to enter their best beers, and allow craft beer drinkers to vote on their favorites. The winning beers will become flagship beers for the microbrewery. With two passionate home brewers leading the way, and a concept that uniquely appeals to the craft beer community, we believe we can excel in the $14.3 billion craft beer market. Because we offer something different from every other microbrewery: beer that is “crafted by the people, for the people.” Faculty Coaches: Professor Van Clouse & Entrepreneur-inResidence Suzanne Bergmeister InScope Medical Solutions (Mary Nan Mallory, Maggie Galloway, Will Coburn, Adam Casson) InScope Medical Solutions ensures the best outcomes for patients, providers, and hospitals by working with practicing physicians to develop innovative devices that solve critical clinical problems. Representative of our company’s growing patent portfolio, InScope Medical’s initial devices, the iDL laryngoscope and the flagship OneScope, optimize airway intubation by combining two devices into one. Whether in ambulances, surgical centers, emergency rooms, or operating rooms these devices reduce physician stress, patient risk, and hospital costs. InScope Medical’s management team will use its unique skill set, including over 35 years combined experience in the healthcare industry, to bring innovative devices to market. Faculty Coaches: Professor Van Clouse, Professor Sharon Kerrick & Entrepreneur-in-Residence Suzanne Bergmeister Follow us @UofLBiz #BallardMorton JUDGES HOSTS Vesta Brue, CEO/Founder, MedSignals/VitalSignals Competition Director Vesta has four decades of entrepreneurial experience, having launched her first product while in college. In the last six years, she has conceived, developed, and commercialized three mobile health device portfolios–two of which are industry leaders in medication management and home-based vital sign monitoring (see www.medsignals. com). Vesta moved the MedSignals/VitalSignals team to Lexington from Texas in August, 2012, and has established an Innovation Research Center for small R&D companies moving to KY, allowing them to share infrastructure and resources under one roof. As a Bluegrass Angel, she invests in startups and privately in real estate. Through her own incubator, Vesta partners with companies who capitalize on her team’s expertise in introducing healthcare products. She holds an MBA from Harvard Business School and a BS in journalism from Kansas State University. Van G.H. Clouse, Ph.D., is the University of Louisville College of Business’ Cobb Family Professor of Entrepreneurship and Director of the Forcht Center for Entrepreneurship. He joined the college in 1986 and teaches Opportunity Discovery, New Venture Creation, Business Plan Development, and Corporate & Global Strategy. He previously taught at Clemson University and headed its Small Business Development Center. In 2012, Dr. Clouse was presented the University of Louisville Trustees Award, and was inducted into the College of Business Craf Society. Martin McClelland, President, Regent Investment Management, LLC Regent manages more than $300 million in separate accounts and two hedge funds. In addition to his activities at Regent, Martin is the Chairman of the Board of the Enterprise Angels Community Fund, and he is a director of Network Advocates and Cuddle Clones. He has an undergraduate degree in engineering from Purdue University and an MBA from Harvard. At the University of Louisville, he is a member of the Board of Overseers and the College of Business Board of Advisors. Martin is married to Dr. Lori Warren (OB/GYN), and they have three children (Dava -21; Evelyn – 19; Aidan - 13). Jennifer Williams, Chief Cloning Officer, Cuddle Clones LLC Jennifer is the founder and Chief Cloning Officer of Cuddle Clones, a startup company that creates soft and adorable plush versions of people’s pets. She has a BS in Mathematics and Business from the University of Puget Sound and an MBA from the University of Louisville. Jennifer spent 10 years as a benefits consulting actuary and her last job before making the entrepreneurial leap was with PwC. She is actively involved in the entrepreneurial community in Louisville and periodically develops financial models for other startups in the area. Trade Show, Fast Pitch and Finals Moderator Sharon Kerrick, Ph.D., is Director of the Entrepreneurship Minor and Associate Director of the Forcht Center for Entrepreneurship at U of L College of Business. Prior to joining U of L in 2002 she was one of the owner/founders of a technology firm that grew to over 300 full time staff in five states for nearly 20 years. She has received numerous awards/ recognitions including Business First’s 40 Under 40 Leadership excellence award, National Association of Women’s Business Owners, and UofL excellence in teaching and service awards. She teaches Entrepreneurship courses for undergraduates, MBA students, and Global MBA students. Entrepreneur-In-Residence Suzanne Bergmeister is the Entrepreneur-in-Residence in the University of Louisville College of Business. She has been affiliated with the MBA program since 2003. She teaches New Venture Creation/New Venture Finance and Business Plan Development in the Entrepreneurship MBA, as well as MBA electives New Ventures and Social Entrepreneurship. She also teaches in the undergraduate entrepreneurship minor program. Suzanne owns her own consulting company, Sunflower Business Ventures, Inc. and is a retired Colonel in the Air Force Reserves. She is Chair and immediate past President of Venture Connectors (www.ventureconnectors.org), as well as a founding member of the Network of Entrepreneurial Women (www.nentw.com) OUR BENEFACTOR Funding for the New Venture Competition is made possible through the generosity of T. Ballard Morton. In 1983, after 16 years as CEO of a leading family-owned broadcasting company, Ballard Morton became Executive-in-Residence at the University of Louisville College of Business. He called the position “a secret dream come true.” business.louisville.edu/eship 502.852.4161 @UofLBiz #BallardMorton For the next two decades, he proceeded to help the dreams of MBA students come true. He crafted a unique course —“Leadership”— and encouraged students to discover who they were, what they believed in and what they wanted to do with their lives. The challenges within the New Venture Competition embody these principles and prepare students to launch careers of opportunity and innovation. To discover more about Ballard Morton, read his book “Gladly Learn,” (Crescent Hill Books, 1997).
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