Four Brown Students Among 16 Semifinalists in RI Business Plan Competition

A record number of people vying for a record prize pot of more than $250,000 applied to the 2011 Rhode Island Business Plan Competition, and 16 of them have been named semi-finalists, including three Brown University students and one alumnus. 

The four semifinalists with Brown engineering and entrepreneurship connections were among seven semifinalists in the student track of the competition. They included HnC Products led by principal applicant Margaret Watson '11. Her idea is to create a personal beverage container that can heat and cool 20 ounces between 150 and 35 degrees Fahrenheit with the flip of a switch. HnC (which stands for hot and cold) grew out of an idea from Professor Eric Suuberg's entrepreneurship class in which Watson and six other undergraduates have been working on a way to improve the taste of food eaten by astronauts who don't have access to refrigeration in space. The device uses compact thermoelectric technology, and has the potential to redefine the beverage market.

Two students from the Program in Innovation Management and Entrepreneurship (PRIME), Sara Huebscher '10 ScM '11 and Rachel Decker ScM'11 were also among the semifinalists. Decker's business plan is for PRIME Omega-3, a company which will produce and sell high quality omega-3 fish oil supplements using a safe proprietary chromatography technique. Huebscher's plan is for Privicare, which will provide at-home diagnostic devices for common infections and diseases.

Dan Aziz '11 presented a business plan for PriWater, which is developing a prenatal beverage supplement to reduce birth defects and mitigate common complications of pregnancy.

The 103 business proposals submitted this year represent a 69% increase over the number of applications received last year. To receive prizes, which will be awarded to all finalists and winners, applicants must agree to establish or continue operations in Rhode Island.


Providence Business News Release:
http://www.pbn.com/RI-Business-Plan-Competition-names-16-semi-finalists,57199

RI Business Plan Competition 2011 Release:
http://www.ri-bizplan.com/News/SemifinalistsAnnounced/tabid/237/Default.aspx

Rachel Decker Accepted into Entrepreneurial Fellows Program at Slater Technology Fund

Rachel Decker ScM '11, a current Program in Innovation Management and Entrepreneurship (PRIME) master's degree student, was just accepted into the Rhode Island National Science Foundation’s Experimental Program to Stimulate Competitive Research (NSF EPSCoR) Entrepreneurial Fellows Program at the Slater Technology Fund.

A collaboration initiated in 2008 between Slater and the Rhode Island NSF EPSCoR, the program is designed to encourage entrepreneurship in the life sciences and biotechnology industries in Rhode Island by formally engaging local university students in the venture development process.

The Entrepreneurial Fellows Program is designed to attract and support a next generation of entrepreneurs in the life sciences industry by drawing students from the state’s colleges and universities into active participation in the process of venture development. Fellows engage in venture development by working with both academic researchers and industry professionals to understand the process of start-up formation, the development of business plans, the recruitment of entrepreneurial teams, the raising of early-stage capital, and the implementation of commercialization strategies. A goal of the program is to better inform students of the career development options available within the life sciences industry and to help integrate them into the knowledge-based economy in Rhode Island

The Entrepreneurial Fellows Program was launched in 2008-2009 with a group of seven students from Brown University and the University of Rhode Island. The pilot-scale program was continued in 2009-2010 with another six students from Brown and the University of Rhode Island.


About Rhode Island NSF EPSCoR
The Rhode Island National Science Foundation Experimental Program to Stimulate Competitive Research (Rhode Island NSF EPSCoR) builds partnerships between state government, institutions of higher education, and industry to effect lasting improvements in Rhode Island’s research infrastructure and national R&D competitiveness. Rhode Island NSF EPSCoR began in 2004, receiving federal funding commitments in excess of $26.75 million. For more information, visit www.riepscor.org.


About Slater Technology Fund
The Slater Technology Fund is a state-backed venture capital fund that invests in new ventures committed to basing and building their businesses in Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership, and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.