Jake Jabs Business Plan Competition announces finalists
At Finals Night on Nov. 10, 2016, The Jake Jabs Center for Entrepreneurship at the University of Colorado Denver (CU Denver) Business School announced the three collegiate and two community startup finalists that brought its 2016 business plan competition to an end. In the collegiate category, BARVENTURE, a neighborhood bar guide app, won the $10,000 first place prize. Pocket Passer, a tailgate game, came in second claiming $7,500, and Velocé Corporation, a smart drug delivery capsule, came in third earning $3,500. In the community startup category, Lithic Nutrition, a cricket-powered protein, claimed first place winning $7,500 and BarMade, an innovative cocktail maker, took second winning $3,500. In addition to cash prizes, each team also will choose from a series of value-add services donated by area companies with a total worth of more than $37,000, including legal, technology marketing, public relations and business mentorship services.
At the Finals event, Molly Hughes, director of Denver Post TV and Emmy-award winning news anchor and reporter, commanded the stage as emcee as all five Colorado-based teams presented a five-minute business pitch to a live audience and panel of judges. The panel included event namesake Jake Jabs, founder and CEO of American Furniture Warehouse; Kate Shillo-Beardsley, director of Galvanize Ventures; Cynthia Banks, president of Foundation of Global Scholars; Scott Wyatt, CEO of Advantage Integrated Solutions; and Gyan Saxena, founder of TiE Rockies Angels.
“The entrepreneurial talent onstage yesterday was nothing short of inspiring,” said Madhavan Parthasarathy, Associate Professor at CU Denver and Director of the Jake Jabs Center for Entrepreneurship. “The ideas, energy and business savvy these future leaders brought to this competition reaffirmed why our center exists. We are honored to be advancing Colorado’s entrepreneurial scene through mentorship, education, financial support and real-world competitions.”
About the Winners
Collegiate | First Place | $10,000 plus Value-Added Services
BARVENTURE is an app-based bar marketing program that developed proprietary technology to engage and encourage users to explore new bars and restaurants. Users pay to access discounts and fun, while participating venues get valuable new customers through their doors, and advertisers can reach location- and demographic-specific targets.
Collegiate | Second Place | $7,500 plus Value-Added Services
Pocket Passer is a tailgating and backyard entertainment game designed for the entire family. Pocket Passer combines people’s love of football with classic outdoor games such as corn hole. It is a social game that aims to bring people together to enjoy the competition and play in many different outdoor settings.
Collegiate | Third Place | $3,500 plus Value-Added Services
Velocé Corporation was founded in 2015 and is developing the SmartTab prototype. SmartTab is an ingestible drug delivery capsule that can be taken orally by patients and can be controlled wirelessly to release the drug to targeted areas within the gastrointestinal (GI) tract. The new approach aims to control the amount, location, and dose of the drug to be released. It will be designed with the aim of developing a simpler, lower cost active drug-delivery system.
Community Startup | First Place | $7,500 plus Value-Added Services
Lithic Nutrition innovates with cricket-based foods and supplements to provide Americans with an ultra-sustainable, nutritious protein source. The team is on an educational mission to remove negative bias about eating insects, with an objective to see insects accepted as a viable protein source in U.S. households.
Community Startup | Second Place | $3,500 plus Value-Added Services
BarMade is an innovative mixology company that is poised to revolutionize the adult beverage market. BarMade believes in more than just pouring a drink for ease of use, as the company’s mission is to deliver an experience that is as nostalgic as being at your favorite bar, chatting with your favorite bartender.
For more information about the competition and to be added to the 2017 call for submissions, please visit www.jakejabscenter.org.