5 minute read
Truly Transformative
Ohio Wesleyan's Entrepreneurship Competition and inaugural winners to help drive Ohio economy
With the U.S. Entrepreneurship Competition at Ohio Wesleyan University, "we're creating jobs, we're fostering innovation, and we are driving long-term prosperity for everyone in our state," OWU President Matt vandenBerg said in announcing the winners of Ohio's largest and most lucrative business plan contest.
vandenBerg spoke Oct. 5 at the Ohio Statehouse, where six teams gathered to learn who had placed first, second, and third in their competition categories. All were named finalists in OWU's inaugural U.S. Entrepreneurship Competition (USEC) following a "Shark Tank"-style competition Sept. 26 on the Ohio Wesleyan campus. They are sharing in a total prize package worth $450,000.
"These college and professional teams absolutely exemplify all the grit and perseverance and can-do attitude that you need to be successful entrepreneurs," vandenBerg said. "Every team who is here is going to earn a significant prize package: either $100,000, or $75,000, or $50,000. So no matter what happens, each one of you is a winner today."
Becoming 'Founder U'
Before announcing the results, vandenBerg also told the crowd that all six teams will receive access to the Delaware Entrepreneurial Center at Ohio Wesleyan University, or DEC OWU, "the very first liberal arts business accelerator in the United States" and "the nation's very first collaboration of its kind –between a city, a county, and its university."
"Most universities who are involved in entrepreneurship, they focus their efforts on later-stage development when companies are scaling or seeking big-time investment," vandenBerg said. "And while we do that, too, at Ohio Wesleyan and through the DEC OWU, we're reimagining that entire process by focusing on the very beginning. We are working to become Founder U – the preeminent university for supporting founders and for launching startups. …
"By attracting top talent and supporting them through every single stage of their venture," vandenBerg continued, "we're creating new businesses and driving economic growth. We're ensuring that Ohio isn't just a place that launches businesses, but this is a place that launches businesses, nurtures them through their development, and helps them to thrive right here, to everyone's benefit. …
"We're empowering them to create and to innovate, and build – right here in Ohio – and we're doing it in a way that's truly transformative for our state. That's what makes Ohio Wesleyan a leader in this space. … Today is an electrifying inflection point for entrepreneurs and economic development in Ohio."
And the Winners are…
Phil Smith, director of the DEC OWU, took to the West Plaza stage at the Statehouse to announce the winners and invite everyone to compete in or observe next year's even more lucrative U.S. Entrepreneurship Competition.
WaterWise Technologies, represented at the Statehouse event by Kendall Byrd, earned first place in the professional track. The Columbus, Ohio, startup is developing an aquatic drone, or unmanned surface vehicle (USV), to target pathogens, algae, and toxins in freshwater ecosystems without using potentially harmful chemicals. It seeks to integrate real-time water monitoring, contamination prevention, and treatment into a single device.
SearchOwl, represented Saturday by Jadon Wyant, Dale Berkove, Cullen Combi, and Ryan Kaiser, earned first place in the college student category. Founded by five Case Western Reserve University students, SearchOwl seeks to improve the online shopping experience with an ad-free algorithm that learns user preferences over time and suggests appropriate products to explore. Currently, the students are using skincare products to help them build "a better shopping paradigm."
Both winning teams earned investment packages valued at $100,000 in addition to office space and mentorship at the DEC OWU. The second- and thirdplace finishers received investment packages worth $75,000, and $50,000, respectively.
The second- and third-place professional track winners are, respectively:
Industrial Hyperspectral Solutions, represented by Todd Tucky. This Delaware, Ohio, startup seeks to help address the deadly fentanyl epidemic with a handheld scanner that uses tunable LED light to enable law enforcement officers and emergency medical technicians to identify the drug on scene without any physical contact.
Mobile Med, represented by Gregory LaFontaine and Dr. Bethany Recker. This Worthington, Ohio, company provides medical house calls to clients for a monthly membership fee. Unlike some of its competitors, Mobile Med provides primary, comprehensive care in addition to same-day urgent care.
The second- and third-place college student and new graduate winners are, respectively:
Zen Music Group, represented at the Statehouse by Inesh Tickoo (Ohio Wesleyan University). This team seeks to reshape the music industry by making the discovery and licensing process more efficient, transparent, and accessible. Zen Music also seeks to bridge the gap between music creators, libraries, and businesses in need of music for sync licensing.
Junietta, represented by Ezra Wolf, Alex Tide, and Dan String (University of Cincinnati). These young entrepreneurs are working to create an affordable, accessible, and easy-to-use music synthesizer that allows users to create a limitless amount of music. Their goal is to support local musicians, education systems, and shop owners.
