Current MBA Student wins Alabama Launchpad Business Plan Competition

Chris Cater, middle, an MBA student at The University of Alabama, and Sam Mroczynski, a senior chemistry major at UA, are interviewed by Crimson White reporter Valerie Cason after a team they are on won the 2008 Alabama Launchpad business plan competition. (Photo by Zach Riggins, UA Office of Photography) Download a high-resolution version

TUSCALOOSA, Ala. – Three teams from The University of Alabama earned first, second and third place honors in the second annual Alabama Launchpad Business Plan Competition, winning a total of $175,000 in start-up funding.

The Alabama Launchpad Finale took place Monday at the Bryant Conference Center on the campus of The University of Alabama. Eight finalist teams presented their business ideas to a panel of judges with experience in venture capital and technology start-ups.

“The University of Alabama should be commended for their hard work in establishing these start-up companies and for providing excellent resources and support for them,” said Glenn Kinstler, director of Alabama Launchpad. “After not placing in the Top 8 last season, representatives at UA made a concerted effort to have a better showing in this year’s competition, and it paid off.”

“We’re already seeing dividends from this initiative,” said James P. Hayes, president of the Economic Development Partnership of Alabama, a founding sponsor. “One of last year’s finale teams has already secured additional funding and is moving forward with its efforts. Ultimately, that is what this competition is about – giving these companies a vehicle to move from conception to the marketplace and to become the next generation of Alabama’s economic success.”

First place and winner of $100,000 in the Alabama Launchpad Business Plan Competition announced Tuesday is Lambert Technologies. From left, Dr. Scott Spear, research engineer with UA's Alabama Innovation and Mentoring of Entrepreneurs Center, Chris Cater, a UA MBA student, Todd A. Gross, chief executive officer, Lambert Technologies, and Sam Mroczynski, a senior chemistry major at UA, display their team's winnings following the competition's finale. (Photo by Zach Riggins) Download a high-resolution version

Second place winner in the business competition is Cellulosix. From left, are Dr. Richard Swatloski, a licensing associate in UA's Office for Technology Transfer, Micah Harvey, the company's chief operating officer, and Aaron Hammons, CEO and president. (Photo by Zach Riggins) Download a high-resolution version

Winning third place in Monday's Alabama Launchpad competition is SEA Desalination. Joining team leader Mike Wofsey, right, a doctoral student in UA's department of physics and astronomy, are Jennifer Shell, a green designer and local business person, and Ranjan Dhamapalan, a graduate student in UA's physics and astronomy department. Not pictured is Jeff Street, a UA graduate and professional golfer. (Photo by Zach Riggins) Download a high-resolution version

A brief description of the winning teams follows:

First Place (Winner of $100,000) -- Lambert Technologies, LLC has developed a patented luminescent epoxy coating called Strain Sensitive Skin (S3), which is used for testing material stress levels. When an S3-coated object is tested under different load conditions, the coating emits a light. This light allows for the formation of a strain map across the object’s surface, which can be used to more accurately determine the object’s service life. Lambert Technologies plans to incubate in the Alabama Institute for Manufacturing Excellence at The University of Alabama. The chief executive officer of Lambert Technologies is Todd A. Gross. The team consists of research engineer Scott Spear, MBA student Chris Cater, and chemistry graduate student Samantha Mroczynski, all of UA.

Second Place ($50,000) -- Cellulosix is developing a catalog of cellulose-based chemical reagents for use in drug delivery, functional foods, smart clothing, functional bandages, and several other potential markets. The technology allows raw cellulose to dissolve in more mild conditions than current technology, which allows it to be modified chemically and physically in ways that were previously not possible. Cellulosix will offer a wide range of cellulose materials from conductive cellulose fibers to cellulose-based drug delivery systems. Dr. Richard Swatloski is technical adviser for the team and a licensing associate in UA’s Office for Technology Transfer.

Third Place ($25,000) -- SEA Desalination is a solar-powered desalination technology that removes salt from seawater or high mineral concentrations from ground water. It has low environmental impact, since it does not eject brine-water, and is made from remanufactured plastic water and soda bottles. The company has plans to manufacture and sell the system to homeowners and businesses in coastal areas for drinking water and irrigation. Mike Wofsey, a doctoral candidate at UA, is the team leader.

Finale judges for 2008 were:

• Dr. T. Russell Crook – Professor of Business Strategy, The University of Tennessee
• Dr. Lawrence Greer – Senior Managing Partner, Greer Capital Advisors, LLC
• Mr. David Karabinos – Managing Partner and CEO, Harvest Business Advisors, LLC
• Ms. Tanveer Patel – President, CEO and Co-Founder, CircleSource Inc.
• Mr. Alston Noah – Serial Entrepreneur

Teams were judged on the following criteria:

• Value Proposition – What problem or unmet need does this idea address? Is it attractive? Does the team/proposal make a strong case?
• Competitive Position – What are the alternatives? Are there others already in the market? How is this company better than the others?
• Market Opportunity – Is the market real? Is it large enough? Is it growing?
• Management Team – Is this group capable of leading this company? Are future needs addressed?
• Intellectual Property – Does the team provide an adequate description? Is it defensible against current or future competitors? Is there competitive advantage?
• Financial Information – Are the revenue projections realistic? Are cost projections realistic? Is the level or profitability attractive?
• Presentation – Was the presentation clear and articulated well? Did the speaker address all of the critical issues? Did the presenter make a strong case for their business idea?

Alabama Launchpad was formed in 2006 by the Economic Development Partnership of Alabama and six universities – Alabama A&M University, Alabama State University, Auburn University, The University of Alabama, the University of Alabama at Birmingham, and the University of Alabama at Huntsville. The competition is a vetting process to evaluate high growth start-ups and provide seed funding in the form of cash prizes to the top three. This was the competition’s second year.

Remaining 2008 Alabama Launchpad Finalists

AT Bioscience, LLC (UAH) identifies lung squamous cancer genes using its novel bio-marker gene discovery technology. Using these genetic biomarkers, ATB is developing lung cancer research kits and a first blood diagnostic kit for early lung cancer diagnosis.

dlservices.net (UA) solves online knowledge resource integration problems for health libraries with a suite of solutions that enables better access to structured information for health providers at the point of patient care. Its software as a service (SaaS) platform is designed for various health library contexts, including hospitals, ambulatory clinics and academic health science centers. The SaaS platform allows for a “single point of service” functionality for libraries to offer to their clients. Dr. Steven MacCall, associate professor in UA’s School of Library and Information Studies, is the team’s leader.

Intellectrode, LLC (UAB) is identifying ways to manufacture brain, spinal cord and peripheral nervous system implants (called BMI or Brain Machine Interface) using automation. Intellectrode is licensing UAB technology that can create very intricate and durable BMIs by automation using a laser, a computer driven microscope, and a computer vision system.

Proventix (UA) designs web-based tools and resources designed to reduce the financial and health-related burdens to family caregivers. Its patent-pending assessment tool creates programs tailored to the specific circumstances of caregivers and patients, and provides continually updated information and counsel on the caregiving process, available resources, member recommendations, as well as mobile access to critical data. Dr. Michael Parker, associate professor in the School of Social Work at UA, is team leader of Proventix.

SSS Optical Technologies (Alabama A&M) has developed a new, patent-pending sensor to detect ammonia in animal feeding operations. The system is easier to install and maintain, and provides long-term cost savings versus current systems.