FOR IMMEDIATE RELEASE:
LaunchTownTM Announces 2012 Student Entrepreneurship Competition
October 17, 2011: Akron, Ohio, USA - With its history of awarding nearly $100,000 in cash and service prizes since its founding over five years ago, the LaunchTown Leadership Team yesterday announced the competition for 2012, including the final submission due date of March 7, 2012. The grand prize of $10,000 in cash, plus a package of mentor and advisory services, will be presented to the winning team chosen live at the LaunchTown Entrepreneurship Awards on April 16, 2012, at The University of Akron Martin Center, in front of an audience including competing teams, students, angel investors, venture capitalists and the business community.
Student teams for the 2012 awards are being sought from Case Western Reserve University, The University of Akron, Youngstown State University, Cleveland State University and Kent State University, plus students from other schools in the region. The 2012 competition focuses on graduate student led teams, with undergrad participation, counseled by faculty mentors, and with an emphasis on ideas that center around technology.
Just over a year ago, the LaunchTown Entrepreneurship Award went to LifeServe Innovations, a Case Western Reserve University student team. Team leader, Richard Arlow, plus team members, Babajide Falae, Lisa Bauer, Fehmida Kapadia, James Ochsendor, and Zach Bloom, and advisor, Bruce Terry were the recipients of the LaunchTown $10,000 grand prize that year.
The Burton D. Morgan Foundation has generously supported the LaunchTown program since its inception. The continuity of the program in building a track record of student entrepreneurial success has been recognized as the winners of the 2009 and 2010 LaunchTown Awards were selected by Business Week magazine as two of "the top 25 under 25" entrepreneurs in America.
Along with the support of The Burton D. Morgan Foundation, the key to the program's continued success with these talented students is the LaunchTown Leadership Team. The team is comprised of angel investors, business leaders, and entrepreneurs, including those from the Akron ARCHAngels, the North Coast Angel Fund, the Ohio Venture Association, the Akron Global Business Accelerator, and JumpStart.
The year before, the LaunchTown Entrepreneurship Awards Grand Prize went to three students from Case Western Reserve University and The Cleveland Institute of Music for their plan creating a musical artist interactive web service called CitizenGroove. Just like LifeServe Innovations, CitizenGroove has grown and attracted multiple rounds of investment and awards since it was selected by LaunchTown.
"The winning teams benefit from receiving resources, advice and professional services offered by business leaders and entrepreneurs who are passionate about increasing the pool of cutting-edge businesses in the region," said Anthony Margida, chair of the LaunchTown Leadership Team and director of entrepreneurial services at the Akron Global Business Accelerator.
"With tens of thousands of students here in Northeast Ohio coming from all over the world, LaunchTown provides a vehicle to draw out the most innovative student ideas, and shows students that here, in this region, are the resources and opportunities to make their dreams come true," said Margida.
Tom Barratt, president of The Tom Barratt Companies and founder of the LaunchTown program agrees, "Our economic future in Northeast Ohio will be based on the companies that students create now and in the years to come. I have been truly impressed with all the LaunchTown finalists over the years and their presentations at the live events. They represent our future," said Barratt.
Another past winner of the LaunchTown Entrepreneurship Awards, in 2008, was Mike Burngasser of Kent State University who founded his Ohio-based company, Plane Simplicity, LLC, from his student LaunchTown experience. Within a year the aviation technology company sold their first Emergency Locator Transmitter to a customer in France. "Putting yourself through the LaunchTown competition is the single most important action for any budding entrepreneur," said Burngasser.
CONTACT FOR MORE INFORMATION:
Anthony Margida Ph. D, Leadership Chair
The LaunchTown Leadership Team
ajmargida@neo.rr.com
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The LaunchTownTM Entrepreneurship Awards
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| 2008 student winners from The University of Akron receive a prize check from John Osher (l) and Tom Barratt (r). |
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