Posted by: Mark Sorenson | April 8, 2009

BYU Business Plan Competition

Last Friday, I attended the final round of the BYU Business Plan Competition. Xeromax, KT Tape, and Terra Nova Biosystems were the three companies that were the finalists this year. Each company’s idea for their business was excellent.

Xeromax won first place in the competition with $50,000 in prize money. Their brand, Hydrapel, waterproofs any fabric or material at the molecular level.

KT Tape won second place with $30,000 in prize money. They distribute kinesiology therapeutic tape which professional athletes currently use, but the common consumer had been unable to buy, until now.

Terra Nova Biosystems won third place with $20,000 in prize money. They have developed a micro-biotic solution that remediates bio hazardous waste from oil spills in about three weeks.

Attending the competition was like throwing a few logs onto the already blazing entrepreneurial fire within me. It was fun, educational, and exciting to be at a competition where all in attendance are just as excited about entrepreneurship as I am.

The best surprise form me came when I recognized the winners of the competition as two guys who were in my church ward. I knew them both personally. Since the competition, Chris Bryant, the CEO of Xeromax, and I have talked, shared our stories and goals about the business we are a part of, and have set up a time to exchange contacts. He is sure he has some connections that will help me with Tapemorr and even with raising money for Imaginal.

I am still amazed at the opportunities that come out of nowhere when you are looking for them. Everywhere there are people who have been down the road that you are on and usually willing to help you navigate that road better than they did. Whether they are miles further than you down that road or only a few steps ahead of you, there is always a mentor just ahead to help you on your journey. The conversation I had with Chris was a testimony to me that we can make anything happen in our life if we just focus on making it happen.

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Responses

  1. you sound like you need to talk to my husband it sounds like you guys would get a long, he is always coming up with entrepreneurial ideas… .


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