SIx Finalists Selected in 2019 Rhode Island Business Competition
All Will Share Prizes Valued at $185,000
PROVIDENCE – (April 25, 2019) – The Rhode Island Business Competition today announced that six finalists have been chosen in the 2019 Competition, which will award prizes valued at $185,000 when winners are announced next month.
The finalists have proposed businesses that address opportunities related to energy, the environment and water quality, health, and nutrition.
All finalists will briefly present their business idea on May 7 at an Awards Ceremony to be held at the New England Medical Innovation Center (NEMIC) in Providence, after which the winners will be announced.
Following are the finalists:
Biotica Bio, which has developed an oral microbial therapeutic that treats inflammatory bowel disease and other human endocannabinoid deficiencies without expensive clinical trials. Principal applicant: John Round, Providence.
CBC Wind Energy, which is developing efficient, attractively priced wind turbines to be mounted on homes and other structures to meet the growing demand for alternative power supplies. Principal applicant: Robert Baxter, Warwick.
goTeff has developed a low sugar, slow-absorbing, high-nutrition, ready-to-eat breakfast meal made of Teff, a grain from Ethiopia, which will also provide market access for Teff farmers. Principal applicant: Saron Mechale, Brown University.
H2Ok Innovations is using artificial intelligence data analytics to map sources of contamination in underground pipes that are targeted for replacement. Principal applicant: David Lu, Brown University.
Marine Monitoring is developing a product to detect harmful bacteria in freshwater/marine environments to ensure community safety. Principal applicant: Kayla Colson, Brown University.
Uproot has developed a space-efficient dispenser of non-dairy milks, including plant-based milk concentrates, for use in cafeterias and other food service operations. Principal applicant: Kevin Eve, Providence.
Sponsors of the 2019 Competition
Lead sponsors of the 2019 Competition, which will culminate in May, are Bryant University, Cox Business, Envision Technology Advisors, Everhope Foundation, Hinckley Allen, Integrated Media Group, KLR, Locke Lord, and Sprout Coworking.
Also sponsoring the 2019 Competition are Barlow, Josephs & Holmes, Ltd., Brown University Nelson Center for Entrepreneurship, Center for Women and Enterprise, FM Global, Greater Providence Chamber of Commerce, Hatch Entrepreneurial Center, Luminous, RevUp Capital, Social Enterprise Greenhouse, TD Bank, Tech Collective, and the University of Rhode Island College of Business Administration.
Additional sponsors include Bank of America, Bank Rhode Island, BankNewport, The Beacon Mutual Insurance Company, Bristol County Savings Bank, Business Development Company, Cherrystone Angel Group, Citizens Bank, CompNet Insurance Solutions, CVS Health, Delta Dental of Rhode Island, Dimeo Construction Company, EpiVax, Fidelity Investments, Goldman Sachs 10,000 Small Businesses at CCRI, Hayes & Sherry Real Estate Services, The Hilb Group of New England, The Idea Turbine, InsureMyTrip, Johnson & Wales University, The Moore Company, Navigant Credit Union, the New England Medical Innovation Center, Newport Biodiesel, Pawtucket Credit Union, Richard Carriere, Slater Technology Fund, StormTree, Teknor Apex, Virgin Pulse, and The Washington Trust Company.
Growth partners include MassChallenge and Venture Mentoring Service of Rhode Island.
About the Rhode Island Business Competition
Established in 2000, the Rhode Island Business Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded more than $2.6 million in prizes to developing companies across many industries.
The Competition is free and open to everyone age 18 or over whether or not they already have started a business. Complete information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-business.com.