A Winning Plan04.14.2014 | Campus and Community, Business
A new, organic medical meal replacement won the $25,000 first prize in the University of Dayton's 2013-14 Business Plan Competition.
Liquid Hope, is the first medical meal replacement and tube feeding formula that is shelf-stable and contains only organic, whole food ingredients. Team members included Jim Danis, University of Dayton alumnus; Namrata Maguire; Brian McGee; and Robin Gentry McGee.
Liquid Hope fills an important gap in the market, as current options for medical meal replacements and tube-feeding products consist of powders, sugary liquids and are composed of chemicals and synthetic ingredients.
Now in its eighth year, the competition offers nearly $190,000 in total support including a $25,000 top prize along with expert advice on transforming a great idea into a viable, marketable, innovative business plan.
As the competition winner, Liquid Hope will also receive free sales training through the University of Dayton Center for Professional Selling as well as $5,000 in free training and development through the University's Center for Leadership. The winner will also have an opportunity to meet with the venture capital firm, Draper Triangle Ventures.
"Liquid Hope follows in the footsteps of a number of previous successful University of Dayton Business Plan Competition winners, said Diane Sullivan, competition coordinator and associate professor of management. "They are working to launch and grow a profitable business while also solving a compelling societal problem."
Business plans were judged on whether they were feasible, profitable and outlined an innovative product or service worthy of going to market. Other winners announced at the School of Business Administration's annual entrepreneurship banquet were:
Second place ($15,000): MyEventMetrics, with team members Venkata Ayyadevara, David Ricupero and University of Dayton alumnus Matt Veryser.
Fourth place ($5,000): TravelBlender, with team members Genevieve Catalano and University of Dayton alumnus George L'Heureax.
Fifth place ($5,000): College Base Camp, with team members University of Dayton students Justin D’Arcy and Emily Meyer.
The business plan competition is designed to help entrepreneurs reach the next level of growth and development for their companies by offering expert advice on transforming a great idea into a viable plan for launching and growing innovative businesses, Sullivan said.
The University of Dayton is recognized nationally for its innovative programs for student entrepreneurs. For the eighth-straight year, the University of Dayton is ranked as having one of the top-25 undergraduate entrepreneurship programs in the in the nation by The Princeton Review and Entrepreneur magazine.