Idea for Life-Saving Device Wins Rhode Island Elevator Pitch Contest

PROVIDENCE – (Dec. 8, 2011) – A standing-room only crowd last night cheered and applauded dozens of aspiring entrepreneurs who presented their business ideas at the sixth annual statewide Elevator Pitch Contest before a panel of judges, who awarded top honors for an ambulance-based, emergency cooling system that will help improve the chance of survival for heart attack and stroke victims.

The event, sponsored by the Rhode Island Business Plan Competition, held at the Rhode Island Center for Innovation & Entrepreneurship, fielded 48 presenters, people who have never created a company as well as experienced entrepreneurs.

“Rhode Island is being called the start-up state and for good reason, judging by the breadth and originality of ideas presented last evening” said Competition Co-chair Larry Davidson, principal with the Providence-based accounting firm of Kahn, Litwin, Renza & Co., Ltd. “If only a fraction of these ideas evolve into new businesses, we’ll all be gainers."

Receiving the top prize was Kipp Bradford, a biomedical engineer who lectures at Brown University’s School of Engineering, who pitched the KippCool Medical Cooling System. Now in production, the system could be deployed in more than 35,000 first-responder ambulances in use across the United States.

Each presenter had 90 seconds to present a business idea to a panel of expert judges from the Rhode Island business community, who provided constructive feedback, telling presenters what they did well and how they could improve their pitch. A total of $1,000 in cash prizes was awarded to the top nine presenters.

In addition to the winner, the eight other top presenters included:
  • Jeffrey Aghjayan, of Providence, who presented the Espalier Hybrid Vegetative Green Roof Solution, a rooftop gardening system that address weight and heat gain issues.
  • Martin Akhavan, of Baltimore, MD, who pitched Innovostics, a low-cast test to determine the cause of infection in children in poor areas around the world.
  • Brielle Friedman, a Brown University student, who pitched BodyRox Fitness, pitched BodyRox Fitness, a dance fitness company.
  • Michael Kelso, of Providence, for VitalNotes, web-based software that will allow physicians and hospitals to spend more time focusing on their patients’ needs.
  • Han-Woong Lee, a Brown University student, who spoke about GLS Mobile Board, a solar-powered mobile display that will project on location-specific billboards, including the backs of trucks.
  • Kristen Legge, a student at the University of Rhode Island, who spoke about Easy Island, which is making all-natural, 100% biodegradable and compostable plates and other dinnerware.
  • James McGinn, a Brown University student, who pitched JCD Wind, which aims to make seamless, high strength lightweight carbon fiber turbine blades.
  • Daniel Russo, of Cedar Grove, NJ, who presented The Shopping List Bag, an innovative, patent-pending solution to reusable bag forgetfulness.
Serving as judges for the Elevator Pitch Contest were:
  • Jim Grace, president, InsureMyTrip.com, Warwick
  • Charlie Kroll, president & CEO, Andera, Providence
  • Brendan McNally, director, RI Center for Innovation and Entrepreneurship, Providence
  • Kelly Ramirez, executive director, Social Venture Partners Rhode Island, Providence
  • Jack Templin, co-founder & CEO of Lockify; co-founder & partner, Betaspring, Providence
  • Barbara Schoenfeld, director, Brooks Houghton & Company, Inc., New York
The Rhode Island Business Plan Competition will award more than $200,000 in prizes to this year’s winners. The deadline to apply is April 2, 2012. Winners will be announced May 3.

Sponsors of the 2012 Competition

Lead sponsors of the 2012 competition are the City of Providence, Greater Providence Chamber of Commerce, Johnson & Wales University, Providence Journal Charitable Foundation, Rhode Island Economic Development Corporation, University of Rhode Island, along with Edwards Wildman Palmer LLP, Embolden, Hinckley, Allen & Snyder LLP, and Kahn, Litwin, Renza & Co., Ltd.

Also supporting the competition are: Amica Insurance, AM 790, Bryant University, Braemar Energy Ventures, Business Development Company, Cherrystone Angel Group, Citizens Bank of Rhode Island, Collette Vacations, CVS/Caremark, Fidelity Investments, Freedom National Bank, GTECH Corporation, InsureMyTrip.com, Morgan Stanley Smith Barney, Providence College, Nortek Inc., NuLabel Technologies, RI Center for Innovation & Entrepreneurship, ShapeUp, Slater Technology Fund, Verizon, and Ximedica. Also, CVS/Caremark, Freedom National Bank, Hayes & Sherry Real Estate Services, InsureMyTrip.com, and ShapeUp.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has become an important element of the Rhode Island entrepreneurial landscape. To date, it has awarded more than $1 million in prizes to competitors developing companies across many industries.

In addition to awarding prizes, the competition hosts educational events in the months leading up to the application deadline in early April. They include writing, financial planning, and presentation skills workshops. In addition, the competition hosts the annual Rhode Island Elevator Pitch Contest in early December, in which participants have 90 seconds to make a presentation to a panel of judges, who then provide constructive feedback and award cash prizes.

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