You can read about the first four finalists at the UC Berkeley Business Plan Competition here.
5. Picatcha: is a picture-based captcha that uses images of brands instead of text thus getting ad revenue too. Captchas are text messages to distinguish humans from computers to prevent spam and improve security. They are used on blogs, contact forms, e-commerce sites, etc. Picatcha improves usability and security over current captchas. It aims to recapture the 3-18% new users that leave a website due to a frustrating captcha experience and prevent the 60% hacked captchas.
6. Intimal Solutions: cures deeply embedded ulcers on feet and legs that can't be treated by substitute technologies. This minimally invasive method is a relief to substitutes - surgery or tight compression bandages that may not help and the problem could recur. Intimal Solutions tested a group of patients and found that the technology heals 84% ulcers in 25 weeks and the problem does not recur. They have already applied for 3 patents and received insurance codes to bill to.
7. Easy Parking Spot: is an online parking marketplace. It helps small businesses, individuals, schools, churches, etc. monetize their parking spots by posting their parking availability and cost on this website as well as placing physical signs in front of their parking spaces to help with branding. Using a mobile app you can identify a parking spot near your location and reserve it or recharge it with this app without having to go to the parking meter to add quarters.
8. Gram Power: is a pay-as-you-go energy storage system to improve energy accessibility in the $11.6B rural energy market in India and Africa. This prepaid plan is activated by a dongle and can help entrepreneurs and individuals get access to electricity for a minimal cost. This electricity rental plan will be distributed and managed by sales managers.
Grand Prize ($20,000): Intimal Solutions
People's Choice Award ($5000): Imprint Energy
Best Elevator Pitch ($1000): Inserogen
Semifinal track winners:
IT & Web: Kopo Kopo and Picatcha competed and Kopo Kopo won
Energy & Clean Tech: Imprint Energy and Gram Power competed and Imprint Energy won
Life sciences: Cardio Paint and Intimal Solutions competed and Intimal Solutions won
Products & Services: Axis and Easy Parking Spot competed and Axis won
I went to the UC Berkeley annual business plan competition on Friday evening. It was insightful and impressive. Eight finalists were chosen from 35 semi finalists by a panel of eight judges. Eight finalists were given 15 minutes each to present their ideas and the remaining 27 semi finalists who didn't make it to the final round were given 1 minute to give an elevator pitch. Finalists belonged to one of four tracks - IT & Web, Energy & Clean Tech, Life sciences, Products & Services. There were 2 finalists in each track. Three prizes were distributed at the end of the evening: People's Choice Award ($5000), Best Elevator Pitch ($1000) and Grand Prize ($20,000).
To get details on the semi finalists please read through the UC Berkeley Business Plan Brochure 2011 (pages 17-24). Best Elevator Pitch went to Inserogen, a biotech company that uses non-transgenic tobacco plants as protein bio factories thus accelerating vaccine development.
The eight finalists had the following components in their presentation: identifying an unmet need and solving it well, a substantial and growing market size, a strong team, proof of concept, a robust revenue model/financial analysis, an integrative production and distribution strategy and strong positioning through competitive analysis. The eight finalists were:
1. Kopo Kopo: provides financial services to emerging markets via text messages through mobile phones at approximately $200/month ($100-$400 monthly subscription fee). Kopo Kopo has already partnered with 2 financial institutions (profit shown in image on right) in Kenya to provide the poor access to financial services. They offer a SaaS platform to financial institutions to connect mobile money networks to a Management of Information Systems (MIS). They plan to target this 1.1B market by targeting the 30M small and medium sized Sub Saharan businesses in Africa.
2. Imprint Energy: This was my favorite and I voted for it in the People Choice Award category. Imprint Energy makes rechargeable batteries that can be printed and attached to shoes, clothing, etc. These customizable, paper thin, longer lasting batteries consist of 5 layers and Imprint Energy has partnered with many companies for its development and manufacturing as seen below. The competitive landscape has few players and Imprint Energy batteries last longer, are rechargeable, are easier to manufacture and are more rugged and safer compared to its competitors.
3. Axis: makes a protective vest that protects athletes from spinal and bodily injuries through advanced sports injury prevention technology. It specifically protects the neck and buttocks in addition to the back as those are the most susceptible parts during an injury. It uses a gel technology which hardens on impact and protects the athlete. Axis plans to start with the equestrian market and then expand to other high risk sports.
4. Cardio Paint: provides heart attack diagnosis and improves risk stratification with a peptide-based injectable. 5M patients visit emergency rooms annually for chest pains of which 60% are told to wait and see what happens. Cardio Paint addresses problem by improving risk stratification through an injectible that accumulates radioisotopes (as seen in the rat's tail below) at a blood clot and better diagnose heart attacks at half the cost and one-tenth of the time.
You can read about the remaining 4 finalists here.