Four Finalists Chosen for the John Pappajohn Iowa Business Plan Competition

Mason City, IA – Sept. 22, 2009 - The John Pappajohn Iowa Business Plan Competition committee announced that four finalists will be presenting at the Iowa Venture Capital and Entrepreneur Conference in Des Moines on October 6.

Following a six-month competition, where more than 60 business plans were submitted and reviewed, the contest led to eight businesses presenting to a judging panel in the finals. The judging panel included five John Pappajohn Entrepreneurial Center (JPEC) representatives and judges from the Iowa SBDC and the Iowa Department of Economic Development.

The committee is proud to announce the four finalists in the competition, listed in alphabetical order:

·               BodyViz – vivid 3D visualizations of MRI/CT scans on the PC, including virtual surgical

·               Energy Control Technologies – Customer-driven control system solutions that provide 1-year backpack on energy efficiency projects for machinery and industrial processes

·               Innovative Energy Solutions, Inc – IES has developed a technology (process and device) for conversion of waste hydrocarbons, such as refinery waste or plastics, into liquid diesel fuel

·               Think Safe, Inc – Engages technology that brings lifesaving applications and residual income opportunity to the world of first aid and emergency situations

John Pappajohn will announce the four winners and their final ranking at the Iowa Venture Capital and Entrepreneur Conference on October 6 and will provide checks of $25,000 for first place, $15,000 for second place and $10,000 for third place. Due to a tie for one of the places, those two companies will split the prize. The winners will present a short executive summary presentation talking about their companies and plans to the conference attendees.

“I very much look forward to meeting the finalists in person and recognizing their outstanding business plans,” said John Pappajohn. “More importantly, I hope this competition will stimulate additional entrepreneurial activity throughout the state and that those businesses who participated will continue to access the resources of the JPECs, Business Accelerators and SBDCs to help them get started and accelerate their growth once they are in business.”

The four finalists receiving honorable mention are Bagolitas by Janice, Springboard Engineering, StarrMatica Learning Systems and LuCella Biosciences. Each of these four companies will receive a check at the conference for $1,000 from Mr. Pappajohn.

“This has been a terrific exercise to stimulate the entrepreneurial spirit in Iowa,” said Jamie Zanios, vice president of NIACC JPEC and Institutional Advancement. “It will be truly exciting to watch the development and growth of these finalists and also the many other businesses that competed. In this contest there are only winners, as the participants have dreams, built their plans and are executing on the business plans as we speak. The Iowa economy will be the eventual winner as these companies succeed and grow.”

The John Pappajohn Entrepreneurial Centers are located at Drake University, Iowa State University, North Iowa Area Community College, the University of Iowa and the University of Northern Iowa. The centers provide entrepreneurial education and business support, partnering with agencies like the Small Business Development Center (SBDC), the Iowa Department of Economic Development (IDED), Entrepreneurial Development Centers (EDCs) and local entrepreneurs to assist with funding and other business needs.

The John Pappajohn Entrepreneurial Center is located on the North Iowa Area Community College campus in Mason City and provides college level courses and degree programs in entrepreneurship, as well as comprehensive consulting services for business start-ups, existing industries and owner transitions in the North Iowa region.   Space is available for start-up businesses in the North Iowa Business Incubator. For more information, contact the NIACC JPEC at 641-422-4111.