Mason City, IA – Oct. 15, 2008 - The winners of the third annual John Pappajohn Iowa Business Plan Competition were announced today during the Iowa Venture Capital and Entrepreneur Conference in Des Moines. Submittal Exchange of Des Moines won first place, and a check for $25,000 was presented by John Pappajohn to Matt Ostanik. Second place and a check for $15,000 was awarded to Sensr of Elkader and Christopher Kavars; third place and a check for $10,000 was awarded to Innovative Vibration Solutions and Dr. Atul Kelkar and Dr. Jerry Vogel of Ames.
The Iowa Business Plan Competition, in its third year of sponsorship by John Pappajohn at the Iowa Venture Capital and Entrepreneur Conference, was designed to stimulate business development and provide support to outstanding business plans. Nearly 70 business plans were submitted and reviewed by a committee comprised of John Pappajohn Entrepreneurial Center (JPEC) directors, Small Business Development Center (SBDC) state director Jim Heckmann, and Business Accelerator representative Doug Lewis of IDED.
“This year’s business plan competition was a tremendous success, with the business plans and companies being represented increasing in quality, and I anticipate even greater success in the future,” said John Pappajohn who announced today that he has agreed to fund next year’s competition. “Most importantly, this competition provides an incentive for companies to complete their business plans, which will help in their success whether they won a prize or not, and if they won, the money they win will help lead to their success and the success of the state in job creation.”
The first place company, Submittal Exchange of Des Moines, reduces paperwork, saves resources, and improves collaboration for architects, engineers, and contractors with a comprehensive, secure online system for exchanging and reviewing construction submittals electronically. www.submittalexchange.com
The second place company, Sensr of Elkader, designs and manufactures acceleration recording instruments for industrial and commercial enterprises providing its innovative technology for capturing dynamic measurements, assessing performance and managing risk. www.sensr.com
The third place company, Innovative Vibration Solutions of Ames, has developed an innovative vibration isolation technology that can provide optimal suspension solutions for various applications, currently being deployed for the trucking industry.
“Congratulations not only to the three finalists, but to all of the applicants. A strong business plan can lead to a strong business, and that’s exactly what we need in Iowa,” said Jamie T. Zanios, director of the North Iowa Area Community College (NIACC) JPEC. “Also, thanks to John Pappajohn for putting forth the funding to help new startup businesses succeed in Iowa and for providing ongoing support of the John Pappajohn Entrepreneurial Centers (JPECs) allowing us to help educate, consult and nurture new and expanding businesses statewide.”
Additionally, $1,000 awards were given to each the other four finalists: J&J Solutions, LuCella Bioscienes, Inc., Innovative Energy Solutions, Inc., Medcara Pharmaceuticals, and Ames Center for Genetic Technology.
The John Pappajohn Entrepreneurial Centers provide education, business support and work with other organizations in partnerships to stimulate entrepreneurship. Founded 11 years ago by John Pappajohn, they are located on the campuses of the University of Iowa, Iowa State University, University of Northern Iowa, Drake University and North Iowa Area Community College in Mason City.
NIACC’s John Pappajohn Entrepreneurial Center offers fast, focused and flexible services to meet your business needs. The John Pappajohn Entrepreneurial Center is located on the NIACC campus in Mason City, IA, and provides college level courses and degree programs in entrepreneurship, as well as consulting services for business start-ups and existing industries in the North Iowa region.
For additional information, please contact Jamie T. Zanios, Director of the NIACC JPEC. firstname.lastname@example.org or 641-422-4162