Congratulations to the Winners of the InNOLEvation Challenge Competition

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1st Place Winner: Moolaguides – $15,000

Moolaguides provides an online platform that facilitates the buying and selling of student generated study guides and study aides.

2nd Place Winner: War Paint LLC – $10,000

War Paint LLC provides an easy-to-use face and body paint applicator

3rd Place Winner: FinAddix – $5,000

FinAddix uses smart-phone technology to snap photos of its fishing experiences and, in less than three minutes, process an order that converts images to high-quality, re-positional vinyl prints.

4th Place Winner: College Cabs – $2,500

College Cabs is a mobile telephone application designed to connect college students to the nearest available cab drivers in collegiate cities

5th Place Winner: Applied Science and Technology – $1,250

Applied Science and Technology focuses data-mining, artificial intelligence, sentiment analysis, and algorithms applied to financial markets.

There were four 6th Place Winners

6th Place Winner: Aqua Gardens - $500

Aqua Gardens offers a year-round growing method capable of mass production, using aquaponics to grow vegetables and raise fish.
6th Place Winner: Fused Software - $500

Fused Software is a software company whose program Entrée provides restaurants with a web-based interactive tablet kiosk system to improve point-of-sale experiences.

6th Place Winner: Martha’s Den - $500    

Martha’s Den is an assisted living facility located in Tallahassee that offers a homelike environment for severely mentally ill patients.

6th Place Winner: NV Prints - $500

NV Prints offers fully automated 3D printers.

Special Award to Critical Action Technologies – $5,000

Critical Action Technologies, a carbon fiber recycling initiative based on research and development at FSU’s High-Performance Materials Institute, was presented a special award of $5,000 by John Frasier of the Office of Research.

InNOLEvation Challenge 2012-2013 Shark Tank Finale Participants

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The second annual InNOLEvation Challenge has proven to be a highly competitive contest. Whether your team was selected to advance or not, we encourage everyone to continue the entrepreneurial quest. Based upon an evaluation by an independent panel of judges, the teams identified below have been selected to advance to the Shark Tank Finale of the InNOLEvation Challenge on Friday, April 12 in the Starry Conference Room in the Rovetta College of Business Building. Based upon a random drawing, the order of presentation is as follows:

Time Team
8:10 a.m. War Paint LLC
8:30 a.m. Moolaguides.com
8:50 a.m. FinAddix
9:10 a.m. CollegeCabs
9:30 a.m. Critical Reaction Technologies
10 a.m. APEApp – NV Prints
10:20 a.m. Fused Software
10:40 a.m. Applied Sciences and Technology
11 a.m. Aqua Gardens
11:20 a.m. Martha’s Den

InNOLEvation Challenge 2013 Breakdown of Cash Prizes

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We are fast approaching the April 12th InNOLEvation Challenge Shark Tank finale. The breakdown of the cash prizes is as follows:

First Place – $15,000
Second Place – $10,000
Third Place – $5,000
Fourth Place $2,500
Fifth Place – $1,250
Sixth through Tenth Place – $500

The Jim Moran Institute for Global Entrepreneurship will also award to the highest-ranking graduate team up to $5,000 in travel expenses to compete in The Florida Venture Forum 2013 Statewide Collegiate Business Plan Competition, scheduled for Wednesday, May 15, 2013.

The InNOLEvation Challenge is specifically designed to be a highly experiential learning experience with significant opportunities to interact with a broad sector of the investment community. You could conceivably remain just an idea rather than becoming a legal entity throughout the competition. However, InNOLEvation Challenge prizes for the first through fifth place finishers (cash and in-kind services) will be distributed to a legal business entity not an individual or individuals. In the interest of saving your time and cash, you can postpone becoming a legal business entity until such time as you become one of the top five finishers and wish to receive your prizes.

The InNOLEvation Challenge’s Shark Tank judges will determine the ranking of teams 1-5. The other five teams in the Shark Tank/Finale will be recognized as having finished sixth. Sixth place finishers will not be required to create a legal business entity in order to receive their prize money. All sixth place teams will receive two $250 cash cards.

Vetting the InNOLEvation Challenge Participants

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In order for your team to be in compliance with the rules of the InNOLEvation Challenge, we are asking each team to review the rules below and respond to the questions at the bottom of this post no later than Thursday, March 28, 2013.

“In general, a member of the student team should be CEO, COO, or President of the venture, or members of the student team should occupy 50% or more of the functional area management positions that report directly to the CEO, COO, or President.”

“Members of the student team are expected to also own equity in the new venture. It is anticipated that the presenting students should own 50% of the equity that is allocated to the management team, and 20% overall equity. (One objective of this rule is to exclude ventures formed and managed by non-students who have given little or no equity to students for writing their business plan.)”

“The competition is supportive of teams that have created a business plan to launch a new venture based on university-developed research and innovations. A goal of the competition is to support the commercialization of promising university technologies through the licensing of technologies to start-up ventures.”

“Recognizing that the equity structure of these new university-based ventures may not yet be established, the 50% equity ownership rule may be waived in this situation. This waiver will be examined on a case-by-case basis.”

Please provide the name, title, student email address if currently enrolled, and ownership percentage of your team’s officers and equity holders. Remember, only current/pre-qualified by this vetting process students are allowed to present at the Shark Tank round. In addition, the equity holder’s percentages should total to 100%.

Please email this information to rlfrazier@cob.fsu.edu no later than 5 p.m. on Thursday, March 28, 2013.

InNOLEvation Challenge 2012-2013 Third Round Participants

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Whether your team was selected to advance or not, we encourage everyone to continue the quest to achieve your dreams. Based upon an evaluation by an independent panel of judges, the following teams have been selected to advance to Stage 3 – Final Round of the InNOLEvation Challenge.

  1. 247 BMG
  2. APEApp – NV Prints
  3. Applied Sciences and Technology
  4. Aqua Gardens
  5. Aqualight Water Bottle
  6. Business Intern Pro
  7. Business Rx
  8. CollegeCabs
  9. Critical Reaction Technologies
  10. Dirty Blonde Inc. Productions
  11. Erista
  12. Featherboa
  13. FinAddix
  14. Fused Software
  15. Martha’s Den
  16. Moolaguides.com
  17. NABU
  18. New Toy Problems
  19. The Town – TownAhallic
  20. War Paint LLC

Please Submit Your 2-Minute Business Pitch Video and Marketing Plan by February 28, 2013

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All of the submitted 2-minute business pitch videos will be collected into a YouTube playlist for the 2012-2013 competition on The Jim Moran Institute’s account (see the playlist of last year’s videos). Please let Ron Frazier rlfrazier@cob.fsu.edu know in advance if you do not want your video on the YouTube playlist.

Utilizing LaunchPlan.com‘s business plan software or an equivalent approach to generate the content, each second round team will need to complete and upload the following segments (all in one document) of their business plan into iStart by February 28, 2013:

MARKETING PLAN

  • Competition
  • Customers
  • Service/Product
  • Pricing
  • Promotion
  • Distribution

Creating and Submitting Your 2-Minute Business Pitch Video by February 28, 2013

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All of the submitted 2-minute business pitch videos will be collected into a YouTube playlist for the 2012-2013 competition on The Jim Moran Institute’s account (see the playlist of last year’s videos).

We have access to 2 flip video cameras. Teams can contact Marietta Dye mdye@cob.fsu.edu to arrange to use one, if desired.

Teams will need their own YouTube account. Upload the 2-minute business pitch video and provide the URL to Ron Frazier via email rlfrazier@cob.fsu.edu no later than February 28, 2013. YouTube’s video editor or any other video editor may be used . 

 

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