2009 Finalists
WPI Venture Forum Business Plan Contest
Finalists 2009
Web Conference Presentations
Six entrepreneurs presented competitive PowerPoint slides via web conference on Thursday, October 29, 2009 to win a slot one of three slots in the final round of the 16th annual WPI Venture Forum Northeast Technology Business Plan Contest to be held November 10, 2009 at Worcester Polytechnic Institute.
The entrepreneurs were: Bill Staby of Resolute Marine Energy, Inc.; Andrew Mirsky of JRM Ventures, Inc.; Max Winograd of NuLabel Technologies, Inc.; Chad Joshi of Atropha, LLC; Ken Spector of Aponos Medical Corp; and Matthew Friedman of Memsaic, LLC – Virtual Fundraising Walls.
After three hours of business plan presentations and one hour of panel deliberation, the second round judges, Will Cowen of Long River Ventures; Michael Refolo and Brian Dingman both of Mirick O'Connell, LLP, Larry Grumer of TAA Corp; and Jim Fee of Adhva; announced three finalists: Aponos Medical Corp; Memsaic, LLC – Virtual Fundraising Walls; and Resolute Marine Energy, Inc..
Ken Spector, CEO
Aponos Medical Corp
Contact: Ken Spector, CEO
Commerce Park, 17 Route 125, Building A#7
Kingston, NH, 03848
508-370-0707
kspector@aponosmedical.com
Aponos Medical Corporation is a startup medical device company formed by three experienced product development professionals whose focus is targeting the needs of Minimally Invasive Surgery (MIS). The company, located in Kingston, NH, has developed a system to close holes and other defects inside the human body.
Delivered at the end of flexible endoscope, the Padlock® closure clip, which is about the size of a dime, can close holes such as perforations in an organ in seconds as opposed to taking 30-45 minutes using conventional equipment. Use of this product will not only cut down on the cost and time required for many MIS procedures, but also provide a safer and more effective technique for the physician and patient. The company expects to have its first product on the market in early 2011.
Matthew Friedman, President & CEO
Memsaic, LLC – Virtual Fundraising Walls|Pronounced: Mem-sā-ic
Contact: Matthew Friedman, President & CEO
3 Bessom Street
Marblehead, MA 01945
978-720-3503
mfriedman@memsaic.com
Using Memsaic's patent pending system, organizations, schools, groups and individuals create "Virtual Fundraising Wall" to automate the process of fundraising on the internet. Virtual Fundraising Walls personalize the online donations process by creating a connection between donors and a cause. People buy bricks on walls and post their pictures and messages to show support. In the end, a mosaic or a "digital quilt" is created showing a community coming together.
Virtual Fundraising Walls are designed for use by any size organization, group, community, or individuals that needs to acquire funds for their cause. Anyone who is looking for a creative, unique, and environmentally friendly way to raise money can benefit from creating a Virtual Fundraising Wall. There are no up-front costs or out-of-pocket expenses to create a Virtual Fundraising Wall. Fundraisers receive between 85% - 90% of the gross proceeds, and Memsaic covers all fees. To experience a Virtual Fundraising Wall and set up your free account, go to www.memsaic.com.
William Staby, Founder, CEO
Resolute Marine Energy, Inc.
Contact: William Staby, Founder/CEO
3 Post Office Square - 3rd Floor
Boston, MA 02109
617-600-3050
wstaby@resolute-marine-energy.com
Resolute Marine Energy is a Boston-based company founded in 2006 to develop technologies for harvesting energy from ocean waves. We are currently building wave energy converters that power the offshore aquaculture industry and our next objective is to develop and test a wave-powered seawater desalination system. Our system targets "off-grid" coastal communities in developing nations where a solution to persistent water shortages is urgently needed and where there is a huge gap between utility-scale and micro-scale fresh water production systems. We believe our system will be readily adopted because it produces large quantities of clean fresh water at an attractive cost using very little human labor and no fossil fuels. It requires minimal capital investment, deploys in a matter of a few days, easily scales to meet growing needs and displaces the current incumbent technology, diesel-driven systems.
Our system will help alleviate the World Water Crisis. In South Africa, where we have already secured a launch customer, we estimate that the addressable market is $5.4B/year and that, by 2014, we can provide clean fresh water to 1.7 million people. Serving them will reduce greenhouse emissions by approximately 365,000 tons/year and boost the local economy by eliminating water subsidies and reducing the amount of time wasted on water gathering activities.
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