Project Innovation Announces Finalists Finalists Will Compete for $60,000 in Seed Money on May 17Six Sangamon County businesses and entrepreneurs will compete for $60,000 in seed money offered by Project Innovation, a competition sponsored by The Greater Springfield Chamber of Commerce Quantum Growth Partnership (Q5). This is the competition’s third cycle, by the end of which, it will have given away more than $130,000 to support local innovative companies.
“The whole idea behind Project Innovation is to spur growth in local innovative companies,” said Mikal Sutton, director of workforce and medical development at The Chamber and manager of Project Innovation. “Previous years’ winners are thriving, and many of them use the services of other local businesses to bring their product or service to market. There is a real ripple effect through the local economy.”
On May 17 at the Studio Theater in the UIS Public Affairs Center, finalists will present their businesses plans to a panel of judges that will evaluate them based on economic impact on Sangamon County, viability, merit of innovation, and long-term return potential to the community. The schedule for the May 17 final competition: 1 – 2 p.m. Media availability with finalists and judges 2 – 3:30 Final presentations and judging 3:30 – 5 Public reception; food and beverages 5 – 6 Public presentations by finalists and announcement of prizes
The 2012 finalists are:
Acceleration Category: Businesses that are looking to expand or move forward with the next stage of their business plan. Prizes: Grand Prize $25,000; First Runner-Up $12,500; Second Runner-Up $7,500
Innovative Cable Pulling Services Applicant: Lee Welch Specializes only in the installation of the electrical cable/wire portion of an electrical project, and will use their new patent-pending device called “Cable Glydz” to make the process quicker and safer.
Lamboo Applicant: Luke Schuette Lamboo is an engineered, high performance bamboo product that is structurally superior to wood. The company has developed product and component lines that can be used in residential and commercial building industries.
Musee Custom Moldings Applicant: Craig Straub Musee’s initial product offering is a patented stretcher bar system used by artists, conservators, and museums that is unlike anything currently offered.
Innovation Category: Assists first-time entrepreneurs with the next stage of developing their business or product. Prizes: Grand Prize $7,000; First Runner-Up $5,000; Second Runner-Up $3,000
Attic Stock, Inc. Applicant: Scott Saunders A web-based business designed to connect buyers and sellers of excess new and recovered construction materials and used equipment.
Saving Memories Forever Applicant: Harvey Baker This iPhone application will allow users preserve stories, memories, and history by creating audio recordings and sharing them with others.
Soil Drainage System Applicants: Sally and Emile Samara This sub-surface soil drainage system provides a new way to extract water fluids for a wide variety of applications, allowing more fluid to enter the system while minimizing clogging, a major problem for existing drainage systems.
Goals of Project Innovation
in our county and region.
and information.
investment firms and prospective clients.
the aim of fostering new and inventive concepts for future economic prosperity. Applicants are asked to complete an application explaining the nature of their innovation, the economic impact the innovation will have on Sangamon County, and how the entrepreneur plans to utilize the award.
Facts about Project Innovation
manufacturing, agriculture, information technology and medical innovations.
business or for small businesses that are looking to expand into their given field. The Grand Prize award for the Acceleration category is $25,000.
phases of their innovation and require assistance to take their ideas the next level. The Grand Prize award for the Innovation category is $7,000.
Download an application here or for more information, contact Mikal L. Sutton, Director of Workforce and Medical Development for The Greater Springfield Chamber of Commerce at 217.525.1173 ext. 221.
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