innovate arkansas

Teams of university students throughout Arkansas were selected recently to compete in the next round of the state's premier business plan competition beginning April 9.

Teams from eight Arkansas universities were announced as the finalists in the Donald W. Reynolds Governor's Cup Graduate and Undergraduate Business Plan Competition Friday in the competition's 10th-anniversary year. Twelve undergraduate and five graduate teams will advance to the next level out of 50 teams representing 14 schools that submitted business plans in the statewide competition.

In the next round, the 12 advancing semi-finalist undergraduate teams will make a 20-minute presentation after which they will answer questions from judges for 15 minutes. Two five-judge panels will determine the six finalist undergraduate teams.

"We're proud to celebrate the 10th year of this entrepreneurial competition," said Kerri Daniels, executive director of the Arkansas Economic Acceleration Foundation. "Our goal has always been to encourage the development and commercialization of ideas and technologies originating in Arkansas universities. Year after year, we see some amazing ideas and a lot of talent right here."

Students involved in the competition gain access to business networks, statewide leaders and capital investors, Daniels said, as well as having opportunities for team-building, learning new business planning skills and experiencing media exposure.

The six undergraduate finalist teams, along with the five graduate teams, will compete in the ultimate round of oral presentations for first-, second- and third-place prizes on Friday, April 9, at the Peabody Hotel.

This year, teams will compete for $114,000 in cash prizes, which will be awarded Monday, April 19, at the State House Convention Center in Little Rock. In the nine years of the competition, more than 1,300 students have participated.

This year's April 19 awards ceremony will also include an elevator pitch competition, in which finalists make 90-second potential investor pitches for the audience and judges.

The 2010 Donald W. Reynolds Governor's Cup finalists include:

Undergraduate semi-finalists

1.       Arkansas Auto-Fluff, University of Arkansas

2.       Better Betic, John Brown University

3.       CommunitySpot.Com, Ouachita Baptist University

4.       DeFoggles, Harding University

5.       EM Innovations, Arkansas Tech University

6.       Fore Your Swing, John Brown University

7.       Green-Roofs, University of Arkansas

8.       Interactive Convenience Electronics, LLC, University of Arkansas

9.       Keyless Blue, Harding University

10.     Roots, John Brown University

11.     Switchgas, Inc., University of Ozarks

12.     Travel Light Shipping, John Brown University

Undergraduate Agricultural

1.       HyrdroSym Farms, University of Arkansas

2.       Naturalee Arkansas, University of Ozarks

3.       Roots, John Brown University

4.       Southern Arkansas Biodiesel, LLC, Ouachita Baptist University

5.       Switchgas, Inc., University of Ozarks

6.       Second Wind, Harding University

UNDERGRADUATE INNOVATION

1.       Keyless Blue, Harding University

2.       MyWorkShift.com, Ouachita Baptist University

3.       Purigate, University of Arkansas

4.       Second Wind, Harding University

Graduate Finalists

1.       Acetaminophen Toxicity Diagnostics, University of Arkansas at Little Rock

2.       BiologicsMD, University of Arkansas

3.       B.O.L.D. Management Group, Southern Arkansas University

4.       Green Valley Solar, LLC, University of Arkansas

5.       InnerVision, LLC, University of Arkansas

Graduate Innovation

1.       Acetaminophen Toxicity Diagnostics, University of Arkansas at Little Rock

2.       BiologicsMD, University of Arkansas

3.       InnerVision, LLC, University of Arkansas

For more information about the Donald W. Reynolds Governor's Cup, visit http://aeac.arcapital.com/governors_award/ or contact Kerri Daniels, executive director of the AEAF at (501) 374-9247 or kdaniels@arcapital.com.