Thursday, May 6, 2010

Present and Past: Rhode Island Business Plan Competition winners from Brown

Brown students enrolled in Entrepreneurship & New Ventures ENGN1930x course consistently do well in the Rhode Island Business Plan Competition. This year Speramus, which developed its business plan in the course last semester, won the student track. The company is creating an online fundraising platform that uses a proprietary ranking system to match donors with individual support opportunities. In addition, Bakodo which developed its business plan in the course last year was runner up in the entrepreneur track. The company is focused on developing a highly-targeted, contextual barcode ad-serving network that aims to optimize return on investment for advertisers. For more information on this year's winners, visit here.

Last year's winner, Runa, who also developed their business plan in the Entrepreneurship and New Ventures course continues to make excellent progress. They have successfully raised funds from angel investors, successfully built out their vertically integrated supply chain in Ecuador, and begun selling their initial tea products in both loose leaf pouches and single serve bags. If you are interested in trying Runa, feel free to buy a cup at Blue State in Providence which now proudly serves it! You can read more at

In addition the runner-up from last year, Eulie has also grown from the intial business plan they developed in the Entrepreneurship and New Ventures course. Both founders raised capital to work full-time on Eulie, developed and successfully tested a novel patent-pending fabric combination that is leak proof, and designed products that will be used to approach retail buyers later this year. You can read more at