Jake Jabs Center for Entrepreneurship Business Plan Competition awards start-up businesses with prize money
DENVER (June 11, 2015) –An idea to turn algae that grows in ponds and oceans into sustainable and renewable ink won first prize yesterday in the Jake Jabs Center for Entrepreneurship Business Plan Competition at the University of Colorado Denver Business School.
Scott Fulbright and Steve Albers won $10,000 for Living Ink Technologies, a company that uses algae to transform carbon dioxide into ink. Fulbright and Albers are both PhD candidates in the Cell and Molecular Biology Program at Colorado State University
Living Ink has developed a patent-pending process using living algae as an ink that literally grows. Co-founder Scott Fulbright thought of the idea after being frustrated that he could not find a unique greeting card for his grandmother’s birthday. Using their knowledge of molecular biology, Fulbright and Albers want to create cards with messages message written in algae; then, when the recipient hangs the card in the sunlight, the message will appear.
The team is focusing on cashing in on the eight-billion dollar greeting card industry first, with greeting cards made with algae ink. They are also looking to produce algae coloring books, and do-it-yourself kits to create your own message in algae that could be used in schools to teach students about science and innovation. Eventually, Living Ink wants to replace commercial printer ink with renewable, safe and sustainable algae derived ink.
This year’s competition saw plans from nine different universities from the Rocky Mountain region. Thirty teams initially applied for the contest, which is an intense six-month process that includes experiential learning opportunities like mentoring from successful local entrepreneurs.
“At CU Denver, we encourage our students to learn by doing,” said Madhavan Parthasarathy, director of the Jake Jabs Center for Entrepreneurship. “The Business Plan Competition provides entrepreneurs with an opportunity to test their ideas and receive meaningful feedback on their business plans. It is our goal is to be the best entrepreneurship center in the country.”
The Business Plan Competition is designed for early stage Rocky Mountain Region companies that have received no Angel or Venture funding and that have generated little or no revenue to date.
The second prize of $5,000 went to Pronto Express. Pronto Express Creator Derek Safko says he is looking to revolutionize the car wash industry by using cutting-edge innovated and providing a three-minute wash guarantee.
The $2,500 third prize went to CREA+E Coffee, a company led by Jose Mota that aims to connect coffee farmers to the end consumer.
Runners up Nile Travel, PetraFluids, and Gist Spirits were all awarded $1,000 each.
This year’s Business Plan Competition finalists include:
Living Ink Technologies, CSU
Living Ink Technologies transforms algae into printer ink in a way that is cheap, environmentally sustainable, and renewable.
Pronto Express Carwash
Pronto Express will change the way consumers view car washes by utilizing the most cutting-edge industry innovations, which includes a 3-minute wash guarantee that will satisfy even the busiest consumer.
CREA+E Coffee
From farmer to consumer, CREA+E Coffee will strive to create a positive difference in the lives of everyone involved in the coffee making process.
Nile Travel
Nile is the world’s very first Social Atlas, empowering travelers to crowdsource recommendations from friends and family who know them the best, and locals who know the areas they are visiting the best.
PetraFluids
PetraFluids Energy utilizes waste energy from oil and gas facilities to provide reliable, baseload capable electricity at competitive prices to the Colorado market.
Gist Spirits
Gist Spirits is a craft distillery that will produce and serve alcohol through its tasting room bar and create custom spirits for local restaurants with a unique focus on clear spirits for cocktails and mixed drinks.
