Winners Announced in Entrepreneurial Challenge
Three winners of the sixth annual University of Northern Colorado Monfort College of Business Entrepreneurial Challenge were announced during the televised event on Sunday, April 12, on KTVD Channel 20. The winner of the challenge was QB Labs, second place was GameCentrics, and third place was Change Composites.
Five finalists presented their business plans to a panel of judges in a "Shark Tank" format at 9NEWS studios in Denver.
Judges for the Entrepreneurial Challenge included Peter Adams, executive director of Rockies Venture Club; Kevin Ahern, founder, chairman and CEO of CIC Bancshares and a UNC alum and Board of Trustees member; and Brad Florin, serial entrepreneur and strategic advisor. Gregg Moss, business reporter and 9NEWS anchor, was again the emcee for the event.
The winners received a total of $50,000 in prize money and business incubator services from UNC BizHub, the business incubator at University of Northern Colorado.
First place and winner of $25,000 is QB Labs, a Parker company that empowers physicians, trainers and physical therapists to quantify and streamline client progress for better movement analysis and improved treatment outcomes with MovementTek, their wearable tech system.
"This has been a great educational process to go through, and one I highly recommend to every entrepreneur out there with a big dream," said Jennifer Maskrey, founder and CEO of QB Labs. "The funds are making a huge impact on our company launch, giving us the power to hit the ground running at full speed."
Second place and winner of $15,000 is GameCentrics, a Fort Collins company founded by Colorado State University students, bringing gamification to daily workplace productivity with their Anti-Grind software. Instead of using a controller, their cloud platform integrates with a company's existing data stream representing employee production information and creates a series of player vs. player, team vs. team, company vs. environment, and personal achievements to set to seasonal and company specific themes.
"More than anything this experience forced my team to nail down and explain key parts of our business plan," explained Sahan Jayasumana, co-founder of GameCentrics. "As college students and recent graduates it is challenging to fund our business. The vote of confidence and start-up capital we received from the E-Challenge allows us to develop our beta product faster than I ever anticipated."
Third place and winner of $10,000 is Change Composites, a Longmont company and the producers of a new bike helmet that helps reduce traumatic brain injuries. The design is made of a composite outer shell, paired with a non-Newtonian liner that helps reduce the chances of traumatic brain injury by responding to the force applies to the user's head.
"Entering a contest like this really makes you focus on the finite aspects of your business and was the biggest value of this process," said Nate Saam, co-founder of Change Composites. "The prize money will be used to manufacturer our first run of helmet shells, and the padding inside the helmet. We are incredibly grateful for the exposure and knowledge gained from this contest. "
Greeley companies Lucan Technologies, the creator of a two touch-screen, Android-based smart watches and VisePower.com, LLC, creator of "The Vise," a weight belt that provides proper leverage when performing heavy lifts also presented as finalists at the event.
"The competition was tough this year, but the judges did a great job evaluating each business plan, asking the right questions, and providing feedback to each finalist," said David Thomas, assistant professor of Management and director of the Entrepreneurial Challenge. "We are grateful for the support we receive from our corporate partners, including 9News who gives us the platform to showcase this competition and the incredibly talented entrepreneurs in our region."Change Composites, Longmont, the producers of a new bike helmet comprising a composite outer shell, paired with a non-Newtonian liner that helps reduce the chances of traumatic brain injury by responding to the force applied to the user's head.
Gamecentrics, Fort Collins, a company that offers Anti-Grind software that incorporates the elements from popular games into daily workflow. Instead of using a controller, their cloud platform integrates with a company's existing data stream representing employee production information and creates a series of player vs. player, team vs. team, company vs. environment and personal achievements set to seasonal and company specific themes.
QB Labs, Parker, works to empower physicians, trainers and physical therapists to quantify and streamline client progress for better movement analysis and improved treatment outcomes with wearable tech called MovementTek.