Student entrepreneurs compete in 'Shark Tank'
More than $40,000 in cash plus in-kind services at stake for startup businesses presenting business plans in final round of InNOLEvation Challenge
The long-awaited Shark Tank round of the InNOLEvation Challenge gets under way at 8 a.m. Friday, April 12, in the Starry Conference Room (RBB 214) at Florida State University’s College of Business, with the final 10 business startups vying for more than $40,000 in cash and a bundle of in-kind services. The winning company will be announced at 12:30 p.m.
During this third and final stage of the competition, 10 competitors, culled from a field of 100 student businesses, will make their pitches for funding to a panel of judges representing the investment community. The ranking of the teams is based on the judges’ willingness to invest in the company. Scores are based on the written business plan, an oral presentation and business viability.
Sponsored by the FSU College of Business and The Jim Moran Institute for Global Entrepreneurship, the InNOLEvation Challenge kicked off in late October 2012 with a business abstract workshop and was followed in January with additional business plan development workshops.
Following is a brief venture pitch provided by each business, as well as their assigned presentation time on Friday:
8:10 a.m. War Paint
War Paint is a face and body paint applicator that applies instantly, displays powerfully and fits in a pocket. Don’t spend hours bothering with messy paint trays or poorly matched colors. Apply your team’s official hues with one swipe on your face, body or both.
8:30 a.m. Moolaguides
Moolaguides.com provides an online platform that facilitates the buying and selling of student generated study guides and study aides. We have two types of users: student buyer and student seller. Our student sellers upload their documents onto the Moolaguide website for free, list their selling price, promote the document, and receive 80 percent of the sale of their notes. Student buyers benefit from 24/7 access to thousands of study documents/study aides for their upcoming exams. Our website is structured for simplicity and effectiveness —allowing both sets of users to either upload and sell or search and download within a matter of minutes.
8:50 a.m. FinAddix
FinAddix has created a unique platform in the photography industry through the integration of smart phone technology to create a fast and simple “end to end” shopping experience for anglers. Consumers utilize their FinAddix smart phone app to snap pictures and, in less than three minutes, process an order that will convert these images to high-quality, repositionable vinyl prints that will arrive at their door in less than two weeks.
9:10 a.m. – CollegeCabs
We are creating a dynamic mobile telephone application designed to connect college students to the nearest available cab drivers in collegiate cities. CollegeCabs, would allow students to request a taxi with only a few taps of their finger. CollegeCabs will not only solve the problem of hiring a cab, but with personal verification codes and a secure payment system, will solve additional problems such as stolen cab rides, and will allow for payments via the student’s smartphone.
9:30 a.m. Critical Reaction Technologies
Critical Reaction Technologies (CRT) is a carbon fiber recycling initiative based on more than four years of research and development at Florida State University’s High-Performance Materials Institute. CRT’s goal is to prevent valuable carbon fiber from entering landfills by using an efficient and environmentally friendly process.
10:00 a.m. NV Prints (renamed from APEApp)
NV Prints fully automates desktop 3D printers, thus enabling 3D printer owners to rent their printer and effectively turning a toy into a lucrative investment. We market and sell patent-pending automation upgrades to “Do It Yourself” 3D printer owners as our primary product offering. We also provide our customers with access to our interactive marketplace, enabling network control of the 3D printer – a feature not available anywhere on the market.
10:20 a.m. Fused Software
Fused Software, LLC is a multifaceted software company that seeks to create software products that integrate into our lives and unify content. Cloud-based storage is rapidly emerging as a dominant force in the tech world. This company is dedicated to crafting products that are simultaneously lucrative, adaptive, and that uphold the standards of intuitive design. Entrée is an example of the company’s offerings. It is a web-based all-encompassing restaurant solution that provides businesses with an interactive tablet kiosk system and ultimately, an improved and optimized point-of-sales system.
10:40 a.m. Applied Sciences and Technology
Applied Sciences and Technology is a software development start-up company founded by FSU computer science students and alumni. The company focuses on data-mining, artificial intelligence, sentiment analysis and algorithms applied to financial markets. We enjoy facing the challenges involved in applying computers to extracting knowledge in the Information Age.
11:00 a.m. Aqua Gardens
Aqua Garden's vision is to revolutionize the way farms use the efficient and environmentally sustainable growing methods of aquaponics. Aquaponics is a year-round growing method, capable of mass production, using a symbiotic relationship between plant and fish.
11:20 a.m. Martha’s Den
Martha's Den is an assisted living facility (ALF) in Tallahassee. It targets severely and persistently mentally ill adults.. Residents are referred by mental health providers and agencies. Our "greenhouse project," which allows residents to care for a garden, and enjoy a reflective pool and fish tank in the house. Studies have shown this type of environment reduces behavioral problems and reduces how much medication residents have to take.
About the InNolevation Challenge
In its second year, Florida State University InNolevation Challenge is one of the nation’s largest collegiate business plan competitions. It is open to current FSU undergraduate and graduate students. and is designed to give collegiate entrepreneurs with a “Big Idea” the opportunity to win the facilities, funding and mentoring to launch their dreams. Each team is evaluated as real-world entrepreneurs soliciting start-up funds from early stage investors and venture capital firms. The judges rank the competitors based on which company they would most likely invest.
About The Jim Moran Institute for Global Entrepreneurship
The mission of The Jim Moran Institute for Global Entrepreneurship at Florida State University is to cultivate, train and inspire entrepreneurial leaders in the community through education programs and curriculum, intensive consulting assistance and mentorship to entrepreneurs and business owners. Through degree and certificate programs in entrepreneurship, outreach programs in Florida, and complementary activities such as speakers and workshops, The Jim Moran Institute currently serves 2,000 business and non-business majors on campus and more than 200 businesses in the community each year.