Description
This brief data around young professional teams selected for ohios new entrepreneurs fund.
For Immediate Release
May 12, 2011
Young Professional Teams Selected for Ohio’s New Entrepreneurs Fund
ONE Fund attracts the best and brightest technology entrepreneurs to Ohio
Columbus – The State of Ohio and The Ohio State University’s Fisher College of Business have
selected 10 teams of young entrepreneurs who will be moving to Columbus this summer to
participate in the Ohio’s New Entrepreneurs (ONE) Fund pilot program. The program, funded
through the Ohio Third Frontier, is designed to attract the best and brightest technology
entrepreneurs to Ohio for an 11-week “boot camp” to potentially turn their great ideas into
commercially viable technology start-up companies.
“These teams represent the type of talent we want to attract and keep in Ohio to allow our economy
to flourish,” said Mark D. Kvamme, Director of J ob Creation for the State of Ohio. “This is just the
beginning of what is hopefully a long career for them as top entrepreneurs. I look forward to seeing
their progress.”
The ONE Fund, administered by the Fisher College of Business’ Center for Entrepreneurship, is an
entrepreneurial competition that focuses on the professional development of young technology
entrepreneurs as they learn what it takes to start a business in Ohio. The group consists of 10
competitively selected, two to five person teams that will be provided $20,000 for business and living
expenses, and will work under the guidance of seasoned entrepreneurs, industry experts, and
investors to prepare technology concepts and business models. At the conclusion of the program,
the concepts will be presented to investors. In fact, NCT Ventures, a Columbus-based venture
capital firm, has already committed $200,000 in follow-on venture funding to an entrepreneurial team
of their choice who completes the program.
“The Ohio Third Frontier is extremely excited to invest in the futures of these outstanding young
entrepreneurs,” said J ames A. Leftwich, Director of the Ohio Department of Development and
Chairman of the Ohio Third Frontier Commission. “This will be a tremendous learning experience for
the participants and is an important step to retaining and attracting top talent for the State of Ohio.”
There were 118 applications received during the two and a half week application window and 25
semifinalists presented video applications. The winning participants; from Ohio, neighboring states,
and even the United Kingdom; have agreed to live in Columbus for the duration of the program, and
any company formed through the program will be set up in Ohio. The teams will have access to all
the resources provided by the Center for Entrepreneurship’s New Venture Accelerator (10x), and will
meet regularly with some of the top entrepreneurs in the country. The administrators of the ONE
Fund will maintain an ongoing relationship with the entrepreneurs to track their success following the
program.
"It was very challenging selecting the top 10 entrepreneurial teams for the 2011 ONE Fund/10x
program,” said Dr. Michael Camp, Executive Director of Fisher’s Center for Entrepreneurship. “We
received so many applications from energetic young entrepreneurial teams working on very exciting
new ideas. We are confident that the entrepreneurial teams that make up the top 10 are among the
best around."
The following teams have been selected to participate in the program:
Acceptd – Acceptd is a web-based tool that simplifies the video application process for university
programs. Uploading and managing application videos, audition tapes, and highlight films using
Acceptd will streamline the process and save time and money for applicants and program directors.
adEvo – adEvo is a loyalty and analytics platform for websites that rewards users for their online
contributions. The platform will give online publishers the ability to reward users with points for
visiting a website, commenting, sharing articles, and growing a social network.
Biena Tech – Biena Tech will produce carbon neutral fuel cells that generate clean energy while
operating at room temperature and using CO
2
as a conducting source. The technology has a wide
variety of market applications in the residential, portable, industrial, transportation, and aerospace
sectors.
Edifuneral – Edifuneral will connect families in need with funeral homes in their area that meet their
specific requirements. More than a listing service, Edifuneral provides specific information to families
that helps streamline their decision-making process.
Flare Code – Flare Code allows individuals and organizations to aggregate all of their digital content
into a collection of mobile-optimized widgets that can be accessed quickly and directly by scanning a
code. Flare Code allows the community to interact with the code by posting photos and comments to
a special section. Imagine a code in a newspaper you can scan every day to discuss stories and
view news clips from a local television station, or a band poster with music videos and fan photos.
Flare Code turns objects into digital communities by connecting them with digital context.
Kout – Kout is an e-commerce platform aimed at micro merchants, which are sellers who do not
need a front-end store. Merchants receive a unique checkout url for each product, which links to a
simple checkout page, designed to reduce checkout abandonment and provide a seamless
experience for the customer. Merchants also will be able to accept credit cards directly through
Kout's checkout without the need of a merchant account and payment gateway, providing less
hassle, less fees, and a quicker setup.
LyoGo LLC – LyoGo LLC was formed to develop and commercialize a novel drug delivery system
for lyophilized (freeze dried) drugs. LyoGo provides a safer, easier, more convenient and cost
effective method of administering complex biologic drugs.
RenterCenter – RenterCenter is a new online service to revolutionize the rental housing market by
aggregating the demand (i.e. potential tenants) and making it easy and affordable for landlords to
locate, evaluate, and engage potential tenants.
Rewardster – Rewardster is an automatic rewards platform that links directly to your credit card and
provides consumers with targeted loyalty rewards based on spending habits across Rewardster’s
merchant network.
SampleShop – SampleShop provides free samples for a very low monthly fee to customers who
would like to try new products. SampleShop charges the company for launching and introducing their
products and, in exchange, helps them to get feedback and surveys from customers.
The ONE Fund session begins J une 13, 2011 and ends September 1, 2011, with a New Venture
Showcase for participants to pitch their ideas to dozens of Ohio and national venture capital and
angel investors. For more information, visit 10xelerator.com.
Ranked by U.S. News and World Report among the top 25 business schools in the country, The Ohio State
University’s Fisher Coll ege of Business offers full-time, part-time, and executive MBA, Master of
Accounting, Master of Labor and Human Resources, Master of Business Logistics Engineering, and Master in
Operational Excellence programs. The college of business was started in 1916, and was named the Fisher
College of Business in 1993, in honor of Max M. Fisher, a noted philanthropist, industrialist, and alumnus of the
college.
10X is a New Venture Accelerator launched this summer by the Fisher College of Business’ Center for
Entrepreneurship. 10X is a mentorship-driven investment program, focusing on technology startups. The
program focuses on providing money, mentors, and markets for its energetic information technology
entrepreneurs. 10x mentors technology start-ups from ideation through execution.
Ohio Third Frontier, an unprecedented and bipartisan commitment to create new technology-based products,
companies, industries, and jobs, has attracted more than $5.9 billion in other investments to Ohio, and has a
nearly 9:1 return on investment since its inception. The Ohio Third Frontier has also assisted in the creation
and retention of more than 68,000 direct and indirect jobs for Ohioans. For more information, visit
ohiothirdfrontier.com.
Working with partners across business, state and local governments, academia, and the nonprofit sector, the
Ohio Department of Devel opment works to attract, create, grow, and retain businesses through competitive
incentives and targeted investments. Engaged every day in marketing, innovating, investing, and collaborating,
the Ohio Department of Development works at the speed of business to accelerate and support the
teamwork that is necessary for success by providing financial, informational, and technical assistance to those
making an investment in Ohio’s future.
###
Media contacts: Katie Sabatino at (614) 466-6212
or the Communications and Marketing Office at (614) 466-2609
doc_413849873.pdf
This brief data around young professional teams selected for ohios new entrepreneurs fund.
For Immediate Release
May 12, 2011
Young Professional Teams Selected for Ohio’s New Entrepreneurs Fund
ONE Fund attracts the best and brightest technology entrepreneurs to Ohio
Columbus – The State of Ohio and The Ohio State University’s Fisher College of Business have
selected 10 teams of young entrepreneurs who will be moving to Columbus this summer to
participate in the Ohio’s New Entrepreneurs (ONE) Fund pilot program. The program, funded
through the Ohio Third Frontier, is designed to attract the best and brightest technology
entrepreneurs to Ohio for an 11-week “boot camp” to potentially turn their great ideas into
commercially viable technology start-up companies.
“These teams represent the type of talent we want to attract and keep in Ohio to allow our economy
to flourish,” said Mark D. Kvamme, Director of J ob Creation for the State of Ohio. “This is just the
beginning of what is hopefully a long career for them as top entrepreneurs. I look forward to seeing
their progress.”
The ONE Fund, administered by the Fisher College of Business’ Center for Entrepreneurship, is an
entrepreneurial competition that focuses on the professional development of young technology
entrepreneurs as they learn what it takes to start a business in Ohio. The group consists of 10
competitively selected, two to five person teams that will be provided $20,000 for business and living
expenses, and will work under the guidance of seasoned entrepreneurs, industry experts, and
investors to prepare technology concepts and business models. At the conclusion of the program,
the concepts will be presented to investors. In fact, NCT Ventures, a Columbus-based venture
capital firm, has already committed $200,000 in follow-on venture funding to an entrepreneurial team
of their choice who completes the program.
“The Ohio Third Frontier is extremely excited to invest in the futures of these outstanding young
entrepreneurs,” said J ames A. Leftwich, Director of the Ohio Department of Development and
Chairman of the Ohio Third Frontier Commission. “This will be a tremendous learning experience for
the participants and is an important step to retaining and attracting top talent for the State of Ohio.”
There were 118 applications received during the two and a half week application window and 25
semifinalists presented video applications. The winning participants; from Ohio, neighboring states,
and even the United Kingdom; have agreed to live in Columbus for the duration of the program, and
any company formed through the program will be set up in Ohio. The teams will have access to all
the resources provided by the Center for Entrepreneurship’s New Venture Accelerator (10x), and will
meet regularly with some of the top entrepreneurs in the country. The administrators of the ONE
Fund will maintain an ongoing relationship with the entrepreneurs to track their success following the
program.
"It was very challenging selecting the top 10 entrepreneurial teams for the 2011 ONE Fund/10x
program,” said Dr. Michael Camp, Executive Director of Fisher’s Center for Entrepreneurship. “We
received so many applications from energetic young entrepreneurial teams working on very exciting
new ideas. We are confident that the entrepreneurial teams that make up the top 10 are among the
best around."
The following teams have been selected to participate in the program:
Acceptd – Acceptd is a web-based tool that simplifies the video application process for university
programs. Uploading and managing application videos, audition tapes, and highlight films using
Acceptd will streamline the process and save time and money for applicants and program directors.
adEvo – adEvo is a loyalty and analytics platform for websites that rewards users for their online
contributions. The platform will give online publishers the ability to reward users with points for
visiting a website, commenting, sharing articles, and growing a social network.
Biena Tech – Biena Tech will produce carbon neutral fuel cells that generate clean energy while
operating at room temperature and using CO
2
as a conducting source. The technology has a wide
variety of market applications in the residential, portable, industrial, transportation, and aerospace
sectors.
Edifuneral – Edifuneral will connect families in need with funeral homes in their area that meet their
specific requirements. More than a listing service, Edifuneral provides specific information to families
that helps streamline their decision-making process.
Flare Code – Flare Code allows individuals and organizations to aggregate all of their digital content
into a collection of mobile-optimized widgets that can be accessed quickly and directly by scanning a
code. Flare Code allows the community to interact with the code by posting photos and comments to
a special section. Imagine a code in a newspaper you can scan every day to discuss stories and
view news clips from a local television station, or a band poster with music videos and fan photos.
Flare Code turns objects into digital communities by connecting them with digital context.
Kout – Kout is an e-commerce platform aimed at micro merchants, which are sellers who do not
need a front-end store. Merchants receive a unique checkout url for each product, which links to a
simple checkout page, designed to reduce checkout abandonment and provide a seamless
experience for the customer. Merchants also will be able to accept credit cards directly through
Kout's checkout without the need of a merchant account and payment gateway, providing less
hassle, less fees, and a quicker setup.
LyoGo LLC – LyoGo LLC was formed to develop and commercialize a novel drug delivery system
for lyophilized (freeze dried) drugs. LyoGo provides a safer, easier, more convenient and cost
effective method of administering complex biologic drugs.
RenterCenter – RenterCenter is a new online service to revolutionize the rental housing market by
aggregating the demand (i.e. potential tenants) and making it easy and affordable for landlords to
locate, evaluate, and engage potential tenants.
Rewardster – Rewardster is an automatic rewards platform that links directly to your credit card and
provides consumers with targeted loyalty rewards based on spending habits across Rewardster’s
merchant network.
SampleShop – SampleShop provides free samples for a very low monthly fee to customers who
would like to try new products. SampleShop charges the company for launching and introducing their
products and, in exchange, helps them to get feedback and surveys from customers.
The ONE Fund session begins J une 13, 2011 and ends September 1, 2011, with a New Venture
Showcase for participants to pitch their ideas to dozens of Ohio and national venture capital and
angel investors. For more information, visit 10xelerator.com.
Ranked by U.S. News and World Report among the top 25 business schools in the country, The Ohio State
University’s Fisher Coll ege of Business offers full-time, part-time, and executive MBA, Master of
Accounting, Master of Labor and Human Resources, Master of Business Logistics Engineering, and Master in
Operational Excellence programs. The college of business was started in 1916, and was named the Fisher
College of Business in 1993, in honor of Max M. Fisher, a noted philanthropist, industrialist, and alumnus of the
college.
10X is a New Venture Accelerator launched this summer by the Fisher College of Business’ Center for
Entrepreneurship. 10X is a mentorship-driven investment program, focusing on technology startups. The
program focuses on providing money, mentors, and markets for its energetic information technology
entrepreneurs. 10x mentors technology start-ups from ideation through execution.
Ohio Third Frontier, an unprecedented and bipartisan commitment to create new technology-based products,
companies, industries, and jobs, has attracted more than $5.9 billion in other investments to Ohio, and has a
nearly 9:1 return on investment since its inception. The Ohio Third Frontier has also assisted in the creation
and retention of more than 68,000 direct and indirect jobs for Ohioans. For more information, visit
ohiothirdfrontier.com.
Working with partners across business, state and local governments, academia, and the nonprofit sector, the
Ohio Department of Devel opment works to attract, create, grow, and retain businesses through competitive
incentives and targeted investments. Engaged every day in marketing, innovating, investing, and collaborating,
the Ohio Department of Development works at the speed of business to accelerate and support the
teamwork that is necessary for success by providing financial, informational, and technical assistance to those
making an investment in Ohio’s future.
###
Media contacts: Katie Sabatino at (614) 466-6212
or the Communications and Marketing Office at (614) 466-2609
doc_413849873.pdf