Cardiac Rehabilation Idea Wins Second Annual Rhode Island Elevator Pitch Contest

PROVIDENCE – (Nov. 8, 2007) – Robert Neville, a Brown University student in his senior year who is developing a remote rehabilitation monitoring system for recovering cardiac patients, was named the winner last evening at the second annual statewide elevator pitch contest sponsored by the Rhode Island Business Plan Competition.

Neville, principal of DigitRx, was one of 33 people who each made a 90-second presentation to a panel of judges and a standing-room only crowd at the Providence Harborside Campus of Johnson & Wales University.

Peter Dorsey, senior vice president of the Business Development Company of Rhode Island, a judge in the contest, said Neville’s presentation “was extremely well focused and hit the key points that investors want to know about, by identifying a market need and explaining how he would serve it.”

The judges gave feedback to each presenter, telling them what they did well and how they could improve their presentation.

Business Plan Competition Co-chair Charles Kingdon, associate vice president of Brown technology partnerships at Brown University, said, “Making a pitch and getting constructive  feedback from seasoned business professionals is a big win in itself for all the presenters. We congratulate everyone on a job well done.”

Along with Neville, eight other presenters shared $1,000 in cash prizes. They included:

• Brooks Porter, of Narragansett, RI, who is developing a chemical-free means to disinfection and sterilize.
• Peter Stadniuk, a student at Johnson & Wales, who is spearheading an effort to develop a high adventure travel company for people who want to pack in a lot in a short amount of time.
• Jesse Maddox, of Providence, who is developing a way for college students to buy text books cost-effectively and independently of campus bookstores.
• Andrew Lazouras, a Bryant University student, who is developing a graphic design studio where customers can come in and design their own clothing.
• Joseph Flaherty, of Watertown, Mass., who is creating a company that enables children to design their own toys.
• Maureen Wallbeoff, of Mansfield Center, Conn., who is creating a website to help connect divorced families or families in which children do not live with both parents.
• Matt Ciaffone and Derek Castello, students at Bryant University, who have plans to develop an indoor, nighttime miniature golf course.

In addition to Dorsey, the following participated as judges in the Elevator Pitch-Off:

• Maryann Pernorio, a strategy and finance consultant based in Providence
• Phyl Speser, CEO of Providence-based Foresight Science & Technology
• Danny Warshay, founder and managing director of DEW Ventures, based in Providence
• Laurie White, president of the Greater Providence Chamber of Commerce

The Rhode Island Business Plan Competition will award $150,000 in prizes to this year’s winners. The deadline to apply is April 7, 2008. Winners will be announced May 6.

Sponsors of the 2008 Rhode Island Business Plan Competition

Sponsors of the 2008 Rhode Island Business Plan Competition include: Hinckley, Allen & Snyder LLP, Kahn, Litwin, Renza & Co., Ltd., Seyfarth Shaw, Brown University, Edwards Angell Palmer & Dodge, LLP, Embolden Design, and Nortek, Inc.

Also supporting the competition are: Brown Forum for Enterprise, Business Development Company of Rhode Island, Cherrystone Angel Group, CVS Caremark, Federal Electronics, Inc., Greater Providence Chamber of Commerce, Johnson and Wales University, Point Judith Capital, Providence Business News, Rhode Island Commodores, Rhode Island Economic Development Corporation, Bryant University, Citizens Bank of Rhode Island, Item Group, Starkweather & Shepley Insurance Brokerage, Inc., Heartlab/Agfa, Naval Undersea Warfare Center, RDW Group, Rhode Island Society of Certified Public Accountants, Salve Regina University, Smith Barney, Software Quality Associates, The Employers Association, The Mergis Group, and University of Rhode Island.

Complete information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.