MADISON – Fifty-one entries from 31 communities have advanced to the second round of the fifth annual Wisconsin Governor’s Business Plan Contest, contest producers announced Tuesday.
The contestants were selected from a field of 250 first-round entries by an independent panel of judges organized through the Wisconsin Technology Council, which is producing the contest in conjunction with its membership subsidiary, the Wisconsin Innovation Network, the Wisconsin Angel Network and other statewide affiliates.
The entries reflect the diversity of Wisconsin’s economy – as well as the interests of its citizens. Energy-saving devices and processes; systems to conserve or clean water; drug discovery, testing and diagnostic inventions; medical devices and monitors; an electric vehicle for warehouses; a device to improve fuel efficiency in motorcycles; a running shoe for “baby boomers” and online solutions for everything from social networking to teaching kids how to manage money were among the ideas submitted.
Only five 2008 semi-finalists are contestants who advanced beyond the first round in past contests.
“We were struck by the number of new names and ideas, which demonstrates that Wisconsin is building a pipeline of entrepreneurs,” said Mark Bugher, chairman of the Tech Council. “The quality of the ideas submitted was very strong again this year, supporting our belief that Wisconsin has the ideas, the innovative culture and the entrepreneurs necessary to succeed in the 21st century economy.”
The 51 entries competing in Phase 2 of the contest are writing summary business plans of no more than 1,000 words. Each plan describes the core product or service, defines the customer base, estimates the size of the market, identifies competition, list members of the management team and provides key financial data.
Phase 2 plans will be filed online by 5 p.m. March 13; the next judging period will last about two weeks. All of the Phase 2 contestants and their teammates have been invited to a Business Plan Contest “boot camp” Wednesday in Waukesha to help them write their Phase 2 plan.
Once Phase 2 judging is complete, the 51 entries may be made available for inspection by accredited investors through Wisconsin Angel Network, which has 25 member angel networks, private equity funds or corporate strategic partners.
The top 20 plans will move on to Phase 3, in which contestants will write a full business plan. About $150,000 in cash and in-kind prizes have been pledged for the 2008 contest thus far. First prize in the statewide contest will be worth at least $50,000 in cash and services. Prize winners will be announced June 9-10 at the annual Wisconsin Entrepreneurs’ Conference, to be held at the Hyatt Regency Milwaukee. Finalists from 2004 through 2007 have raised more than $12 million in private equity.
Here is a breakdown of the entries that advanced by category: Business Services (11), Information Technology (11), Advanced Manufacturing (18) and Life Sciences (11). That proportion roughly reflects the mix of Phase 1 entries in the contest’s four categories. Reporters wishing to contact individual contestants or learn more about their Phase 1 plans should contact Liz Katz or Tom Still at 608-442-7557.
Sponsors thus far for the 2008 BPC are: Aberdean Consulting LLC; American Transmission Co.; API Software; Associated Bank; Axley Brynelson LLP; The Boldt Company; CG Schmidt Co.; Foley & Lardner LLP; J.P. Cullen & Sons; Johnson Block CPAs; Journal Interactive, the digital media division of Journal Communications, Inc.; Loughrin Accounting & Tax Service; Marshfield Clinic Applied Sciences; Madison Gas & Electric Co.; Michael Best & Friedrich LLP; Midwest Airlines; Palo Alto Software, Inc.; Quarles & Brady LLP; Reinhart Boerner Van Deuren S.C.; Ruedebusch Development & Construction; Smith & Gesteland LLP; State of Wisconsin Investment Board; University Research Park; Wisconsin Department of Commerce; WisBusiness.com; Wisconsin Angel Network; Whyte Hirschboeck Dudek; and the Wisconsin Technology Council.
Here are the 2008 semi-finalists in the Wisconsin Governor’s Business Plan Contest. Reporters wishing to contact individual contestants may do so through the Wisconsin Technology Council by calling 608-442-7557 ext. 23.
Kirk Olson Fulfilit Appleton
Mark Kutnyak Graphically Illuminated Helmets Big Bend
Bob McDonald X-Tech Eagle River
Pete Marsnik Modified Soybean Hull for Water Eau Claire
Daniel Kunkel ESAN Eau Claire
Brad Rake So-Lo Guitar Hubertus
Kathleen Gorski PerceptiScreen Hubertus
Phillip Bautch Water Conservation Device Hudson
William Schwan Antibacterial Drug for Treating CF Patients La Crosse
David Holland Flexible Solutions Madison
Jingxi Sun Semiconductor Lighting Madison
Matthew Barbian Helios America Madison
Scott Daigger Sandbox International Madison
Edmond Ramly Student Outsourcing Madison
Cynthia Cauthern AniMaps Madison
Jean Muckian ABA Lifeline Interactive Madison
Kavi Turnbull DriveAlternatives Madison
Chao Xie GeoNet: Location-oriented Mobile Social Network Madison
Rajai Atalla Activation of Cellulose Madison
Tyler Leeper ProactiCare: the CareMetric System Madison
Abdalla Saad Intravenous Delivery of Inhaled Anesthetics Madison
Jeffrey Williams Portable Asthma Monitor Madison
Tony Hartmann MicroCrush Marshall
David Zethmayr Hish-speed data transfer Mauston
Joan Pougiales Work English Online Menominee
Gene Wright LRP Controls Menomonee Falls
Eric Griswold Mobile Utility Platform (MUP) Milwaukee
Whitney Teska Orchard Street Press Milwaukee
Jacqueli Doeler NeuroGenomeX, Inc Monona
Barbara Israel Echometrix Mount Horeb
Marcea Weiss Digital Casting Company Oconomowoc
Roland Bogert Camshaft Grinder Gearbox Retrofit Onalaska
Peter Petit V-Glass Pewaukee
James Hamilton Graphene Solutions Platteville
Kimberly Trygar SUV Service Rack Pleasant Prairie
Kimberly Trygar Semi-Automatic Pill & Liquid Dispenser Pleasant Prairie
Kimberly Trygar Medication Liquefier Pleasant Prairie
Sheila Milbrath 2DX2 Geothermal Systems, Inc Racine
Bruce Keyes WaterSmart Shorewood
Ann Hippensteel Solar Flair (TM), photovoltaic culture Sturgeon Bay
Van Krzywicki Pea Pod Homes LLC Sturgeon Bay
60; KidVestment Sussex
Timothy Lohman AfibAlert Sussex
Daniel van der Weide Optametra complex signal analys Verona
Randal Mueller Steinbine Systems – New Hydro Watertown
James Schroeder Personalized Orthopaedic Implants Waukesha
Michael Miller NxtMile Waunakee
Eric Parks NuTek Bio Waupun
Joseph Scott Closed loop air/fuel tuning system Wauwatosa
Pat James DEMET West Allis
Pat James Tesla HTC/MRI West Allis