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Published/Posted By: The Providence American
Posted: June 20, 2018

This Month's Poll

    • do you believe Donald Trump has worked in Putin's best interest?

      Yes I do
      No I do not
      Maybe not sure



  • WINNERS NAMED IN 2018 RHODE ISLAND BUSINESS PLAN COMPETITION

    PROVIDENCE – (May 17, 2018) – A Brown University student who
    developed a low-cost software package that lets social workers efficiently
    manage documents and information flows was named the top winner in the 2018
    Rhode Island Business Plan Competition, which awarded prizes valued at $259,300
    to six competitors.



     



    Michelle Petersen, whose TextUp software packing is
    already being sold, took home $86,650 in winnings – $15,000 in cash and $41,650
    in professional and consulting services as the Student Track winner, plus a
    $30,000 bonus cash award.



     



    Winners were announced today at a public awards ceremony at the
    Rhode Island Nursing Education Center in Providence.



     



    Ross Nelson, vice president of Cox Business, announced that
    Petersen as the top winner will automatically be a finalist in the $50,000 Get
    Started Rhode Island pitch contest, to be held Oct. 4 in Providence.



     



    Petersen, due to receive her bachelor's degree in public policy
    this month, said social workers typically handle up to 60 clients
    simultaneously, but on average dedicate only about 18% of their time to direct
    client service. The rest of their time is spent managing and documenting
    interactions. She said, TextUp, which tracks all critical information, allows
    users to devote more time on clients, fostering more enduring relationships and
    reducing job turnover.



     



    Winning the Entrepreneur Track was Your Heaven Audio,
    based in Providence and led by Steve Schwartz, which offers a hardware/software
    technology platform for amplifying and recording acoustic musical instruments
    accurately and easily. Your Heaven Audio received $15,000 in cash plus $41,650
    in professional and consulting services.



     



    Winner of the MedTech/Life Sciences Award was Predictive
    Optics
    , which is developing a portable, inexpensive device that optically
    evaluates cerebrovascular health by quantifying retinal blood flow dynamic
    differences between eyes. Predictive Optics, led by Vishnu Dantu, who is
    studying applied mathematics and biology at Brown University, was awarded
    $15,000 in cash and $52,400 in professional and consulting services.



     



    "The judges were impressed by the breadth and capabilities
    of this year's winners and finalists, all of whom are developing robust solutions
    to critical business issues," said Co-Chair Peggy Farrell, partner with
    the law firm of Hinckley Allen in Providence. "We not only wish them luck,
    but also look forward to working with them."



     



    Co-chair Anthony Mangiarelli, partner with the accounting firm
    of KLR in Providence, noted, “We're only able to host the competition because
    of the generosity of our sponsors, who by their support demonstrate their keen
    interest in helping to foster the next generation of Rhode Island companies.”



     



    This 2018 Rhode Island Business Plan Competition was supported
    by 58 sponsors.



     



    The finalist in the Entrepreneur Track was PowerDocks,
    which has created floating platforms, such as moorings and docks, that use
    renewable energy sources to generate, store, and distribute power at those
    sites. Anthony Baro, of Newport, is the managing partner.



     



    Finalists in the Student Track were: 



    •   FungEye
    is a rover-based detection system, using multispectral imaging, to identify
    mold growth before the human eye can, replacing manual inspections which often
    lack accuracy. The company is led by David Katzevich, due to get his bachelor's
    degree from Brown University this month, majored in entrepreneurship and
    technology management.



    •   goTeff,
    led by Saron Mechale who is studying business and entrepreneurship at Brown
    University, is a low sugar, all-natural, nutrition bar that uses Teff, a
    gluten-free super-grain with low-glycemic index and a superior balance of
    nutrients, for cardio, nutrition, and health-minded consumers.



    Each finalist received $5,000 in cash and services valued at
    $11,200.



     



    Approximately 50 previous Rhode Island Business Plan Competition
    participants are currently operating, having created more than 500 jobs, and
    buying services and supplies from Rhode Island companies.



     



    A total of 61 applications were received this year. To be
    eligible to win prizes, applicants agreed to establish or continue business
    operations in Rhode Island.



     

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