GROW UTAH VENTURES ANNOUNCES FINALISTS IN THE CONSUMER PRODUCTS “CONCEPT TO COMPANY” CONTEST
– Eight Entrepreneurs Compete for $40,000 at Public Event –
SALT LAKE CITY, June 04, 2012 – Eight bright innovators have been chosen out of a whopping 120 applicants as finalists in the latest Grow Utah Ventures’ Concept to Company Contest, where they will compete for their share of $40,000 in cash and services to launch their product into the marketplace.
The contest is part of an ongoing series of contests held throughout the state with this one focusing on “Consumer Products”. Competing entrepreneurs were invited to enter their latest and greatest consumer product ideas geared for various markets, including outdoor recreation, medical, household use, family and children, education and more.
Through this fun, fast-paced contest, early stage entrepreneurs will compete against peers and be judged by industry executives and experts. The finalists in the Consumer Products Concept to Company contest are as follows:
The Slack Pack, by Prival Concepts LLC – The Slack Pack is a compact, sleek and effective avalanche safety kit for all snow sport enthusiasts. Its unique compact design allows it to be worn without a backpack.
Bud-e-Bands by Brad Walters – Bud-e-Bands are electronic silicon wristbands that interact with other people’s Bud-e-Bands as well as linking the interaction to online social applications such as Facebook.
iLights by Josh Wiscombe – iLights is a string of light bulbs that can be controlled using a smartphone app. Over 512 different colors and patterns can be programmed.
Roller Tools by Kim Kimball– OSS Roller Tools are a unique set of landscaping, and gardening tools using wheels as a fulcrum point which creates side to side stability and a greater ability to level, grade, and move or spread materials evenly.
BreathEasy™ Infant Sleep System & Monitor by Scott Miles– BreathEasy is an infant monitoring system that prevents conditions contributing to Sudden Infant Death Syndrome (SIDS). It monitors heartbeat and breathing while also providing fresh, filtered, temperature controlled air directly to the sleeping surface.
ColdFire Devices by ColdFire LLC– ColdFire is a training device that pneumatically cycles a semi-automatic pistol when the trigger is pulled. It is a safe, cost effective, way to practice the fundamental skills of shooting away from the range and without ammunition.
Gherkin Back Pack by In A Pikle, LLC – The Gherkin Pack is a compact, rugged organizer for the man on the go. It organizes all the little essentials for the daily routine while camping, scouting, at work or play.
iJumpDrive by Jordan Poulson– iJumpDrive is a USB storage drive that can plug into any Apple iDevice and easily transfer movies, music, pictures, and files between the device and a computer.
“We are thrilled with the caliber of applicants in this contest and they each face stiff competition”, said T. Craig Bott, President & CEO of Grow Utah Ventures. “Utah has unique expertise and great capacity in the engineering and manufacturing sectors and we are excited to host this event for those who innovate and make great products but need some help getting them off the ground.”
The finalists presented to judges and industry experts on June 1st at the NorthFront Business Center in a private day of judging. Three final winners were selected and will now present their ideas again at the public CrowdPitch event on June 6, also at the NorthFront Business Center in Kaysville. At the conclusion of the event, the winners will be announced and prizes awarded.
CrowdPitch events are a way for the public to get involved with the Concept to Company contest and bring exposure to the winners. Along with learning from judge’s feedback, audience members will get to invest their own “CrowdCash” in their business of choice, with prizes being given to the winning “CrowdCash” investors. The CrowdPitch event is free but seating is limited and RSVP is required. Please visit https://crowdpitch14.eventbrite.com/ for more details.
The winners of this contest will receive a significant amount of support. The Grand Prize winner will receive $5,000 in cash and $15,000 in services and the two runner-up winners will each receive $2,500 in cash and $7,500 in services. The cash prizes will be funded by the NorthFront Business Resource Center, Grow Utah Ventures, and SEED Weber-Davis-Morgan. The service prizes will be awarded from Grant Thornton (financial management services), Thorpe North and Western (IP legal services), and Bennett Tueller Johnson (general legal services). Zions Bank and Cisco are also financial supporters of the event.
“Entrepreneurs often need a little extra push to get them started and this contest will provide just that,” said Steve Cloward, Director of the NorthFront Business Resource Center, regional host for the contest. “Whoever wins the contest is going to be surrounded with money and fantastic support to really get their idea off the ground.”
The Concept to Company competitions are Utah’s premier ongoing innovation contests. They are held in various regions across the state with each contest focusing on a different industry. To date, the Concept to Company contests have distributed more than $540,000 in prize money and services and have helped launch over 80 companies. Two more contests will be held later this year focusing on Mobile Apps and Medical Devices.
For more information, visit: www.ConceptToCompany.org
About Grow Utah Ventures
Grow Utah Ventures, is a privately funded non-profit organization dedicated to accelerate the creation of innovative, entrepreneur-led, high-growth businesses that will strengthen and expand the future growth of Utah’s economy.
The vision of Grow Utah Ventures is to create a robust entrepreneurial eco-system in Utah that fosters entrepreneurial talent, drives innovation to solve market needs, aligns community resources and support, and ensures funding for products, entrepreneurs and businesses of promise.
Comprised of a team of successful and experienced entrepreneurs, business leaders and private investors, Grow Utah Ventures accomplishes its mission by leading initiatives that fill critical gaps needed for economic and entrepreneurial expansion and encourage others to do the same. As such, Grow Utah Ventures serve as a catalyst to form new partnerships, develop innovative solutions, and capture breaking opportunities that will solve our economic issues today and ensure a sound foundation for our future economy.
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PR Contacts:
Justin Bott
Grow Utah Ventures
(801) 593-2269
info@growutahventures.com
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