The Arkansas Economic Acceleration Foundation, an affiliate of The Arkansas Capital Corporation Group, is pleased to announce that R2R Technologies of Oklahoma State University of Stillwater, Okla., and Field Focus of Oklahoma State University of Norman, Okla., are the 2013 winners of the Donald W. Reynolds Tri-State Award in Las Vegas.
First place winners took home a $30,000 cash prize, a team trophy and individual plaques. The second place winners received $20,000 prize, a trophy and individual plaques. The teams’ faculty advisors earned a $3,500 check as well.
“I am extremely impressed by the sophistication of the business plans this year,” said C. Sam Walls, chief executive officer of the Arkansas Capital Corporation and chairman of The Arkansas Economic Acceleration Foundation. “These students represent Arkansas’s economic future, and the entrepreneurial skills they have gained are invaluable.”
The winning undergraduate teams are:
First Place – Field Focus – University of Oklahoma – Field Focus provides innovative software for the oil and gas drilling industry, providing asset and personnel tracking tools, plus job management and bid tracking.
Team Members: Susan Moring, Parker Dooly, Jeffrey Rhea, Mubeen Shakir, Caroline Trump
Faculty Advisor: Robert Free
Second Place – Pure Ski Experience – Sierra Nevada College – Pure Ski Experience is devoted to sharing the knowledge and skills of world-class and Olympic skiers with motivated clients, offering them the ultimate life-changing learning experience on the slopes through advanced and goal-oriented teaching methods.
Team Members: Matea Ferk, Tea Palic, Luca Ricou
Faculty Advisor: Rick Normington
The winning graduate-level teams are:
First Place – R2R Technologies – Oklahoma State University – R2R Technologies has developed “intelligent” guides that use a fiber optic sensor to reduce waste during the manufacturing of flexible materials by keeping material properly aligned.
Team Members: Aravind Seshadri, Carlo Branca, Pedro Velasco
Faculty Advisor: Prabhakar Pagilla
Second Place – HomeDx – University of Arkansas – HomeDx is the first company to focus strictly on providing rapid over-the-counter in-vitro diagnostic tests for food intolerances, sexually transmitted diseases, and other infectious diseases directly to the consumer via retail channels.
Team Members: Calvin Smith, Will Swearingen, Max Mahler, Daniel Cherry, Audra Mazzeo
Faculty Advisor: Carol Reeves, Ph.D.
In addition to the business plan competition, students had an opportunity to win an additional $2,000 during the Elevator Pitch Competition. One member from each team was given 90 seconds to describe their product/service.
The undergraduate winner of the Elevator Pitch Competition was Field Focus from the University of Oklahoma. The graduate winner of the Elevator Pitch Competition was HomeDx from the University of Arkansas.
The Donald W. Reynolds Governors Cup business plan competition was established by The Arkansas Capital Corporation in 2000 to serve as a catalyst for developing an entrepreneurial culture in Arkansas. It was announced that a new award, the Sam Walls Entrepreneurial Award, is being established beginning with the 2014 Arkansas Donald W. Reynolds Governor’s Cup competition.
The 2013 Donald W. Reynolds Tri-State Award is an invitation-only event. Invitations were extended to the first and second place winners of the Donald W. Reynolds Governor’s Cup in Arkansas, Nevada and Oklahoma, the states in which Reynolds built his media empire. Now in its sixth year as a multi-state competition, the Tri-State Award business plan competition represents the pinnacle of three statewide business plan competitions in which $580,000 is awarded and represents one of the largest business plan competition prize pools in the country.
Arkansas Capital Corporation Group (ACCG) is a privately held group of for-profit and non-profit corporations dedicated to improving the lives of Arkansans. ACCG and its affiliate companies empower entrepreneurs by providing capital to businesses through its capital availability programs and advocating for entrepreneurs through capital, educational and technological improvements. ACCG serves as the platform from which new opportunities are launched and today includes eight affiliates including Arkansas Capital Corporation (ACC), Six Bridges Capital Corporation (6BCC), Arkansas Capital Relending Corporation (ACRC), Arkansas Economic Acceleration Foundation (AEAF), Diamond State Ventures (DSV), Heartland Renaissance Fund (HRF), Connect Arkansas, and Pine State Capital (PSC). To learn more, visit www.arcapital.com.
The Arkansas Economic Acceleration Foundation (AEAF), established in 1999, is a private 501(c)3 non-profit corporation dedicated to education-based initiatives that promote and foster the development of innovation and entrepreneurship within Arkansas. With broad support from the state’s business community, AEAF’s purpose is to nurture people and ideas to generate future Arkansas entrepreneurs. AEAF established and now manages the Donald W. Reynolds Governor’s Cup, a collegiate business plan competition, as well as business plan competitions for grades 5-8 via the Youth Entrepreneur Showcase (Y.E.S.) and grades 9-12 through the Youth Entrepreneur Showcase 2.0 (Y.E.S. 2.0).