MSOE announces business plan winners
| Published: 02/22/2009 |
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A team of senior engineering majors took first place in the third annual Milwaukee School of Engineering (MSOE) Business Plan Competition. The team received $1,500 for their "wireless premature infant monitoring system" designed to increase the effectiveness of treatment and handling of neonatal infants. The second place prize of $1,000 went to a junior international business major whose plan was for a new autocross racing business. Third place was awarded to a group of mechanical engineering students for their "Perfect Stroke Rowing Machine." Details about the winners are included below.
The MSOE Business Plan Competition is sponsored annually by MSOE's Uihlein/Spitzer Center for Entrepreneurship and supported by MSOE's Kern Entrepreneurship Education Network project grant. Business plans are sought from MSOE students and alumni. Judges for this year's competition included: G. Woodrow Adkins, Uihlein-Spitzer Chair of Entrepreneurship, MSOE Rader School of Business; Jay Wilcox, President of Boelter Brands LLC; Laxson Boyd, Wadsworth Whitestar LLC; Shajan John, Managing Director at Mahattil International Business Development Group; Dr. Dennis Wanless, Segway of Milwaukee and MSOE adjunct professor; and Vince Anewenter, MSOE student and 2008 competition winner. Dr. Jeffrey Blessing, associate professor, Rader School of Business, serves as Kern Fellow and competition coordinator.
Winning Projects:
FIRST PLACE - $1,500
Wireless Premature Infant Monitoring System
Andrew Bublitz, biomedical engineering; Nathan Grams, biomedical engineering; Brian Wallace, electrical engineering
Synopsis of submitted business plan:
Current technology trends are surpassing healthcare innovations at an increasing rate. One of the most prominent technologies yet to take a foothold in hospitals is wireless data transmission. For the past four years our team of engineers has been developing a wireless innovation for Neonatal Intensive Care Units (NICUs) that will drastically increase the efficiency and effectiveness of doctors and nurses caring and treating for neonatal infants.
The product wirelessly and simultaneously acquires the heart rate, respiratory rate, and core temperature of a neonatal infant using a Bluetooth® connection. The device can link up with a wide range of electronic devices to present real time encrypted and password encoded data from the neonatal infant to the display. The product's mobility is enhanced with a rechargeable power source that outlasts the competition by over four hours and eliminates the need to continually buy replacement batteries.
SECOND PLACE - $1,000
Cone Chasers Incorporated
Patrick McLane, international business
Synopsis of submitted business plan:
Cone Chasers Incorporated (CCI) is a new start-up company aimed at autocross racing fans and enthusiasts. It will provide a dedicated facility for these enthusiasts' drive in competitive events. During off peak hours the facility will be used for defensive and performance driving classes.
Autocross is a form of motorsports that emphasizes safe, low-cost competition and active participation. An autocross is a timed competition where drivers navigate one at a time through a temporary course marked by traffic cones. Autocross places emphasis on car handling and driver skill rather than sheer horsepower. Events typically have many classes which allow almost any vehicle to compete, from economy sedans to purpose-built vehicles. Speeds are slower when compared to other forms of motorsports, but the amount of turns per minute rivals Formula One due to the amount of aspects added to each course. Because of the slower speeds and being a large open lot there is a low risk of personal injury or property damage.
THIRD PLACE - $500
Perfect Stroke Inc.
Chelsey Jelinski, Evan Kausalik, Kory Weed and Jason Yolo, all mechanical engineering
Synopsis of submitted business plan:
The Perfect Stroke Rowing Machine provides the rowing community with a product offering realistic and reliable training methods at a reasonable cost. The advantage of this product is that it addresses many of the common shortcomings of currently available ergometers by improving on existing designs.
The Perfect Stroke Rowing Machine features a unique resistance system that uses a hydraulic circuit to generate the resistive force on the oar handle. This system is coupled with a replicated oar shaft mounted at a pivot point that has been designed to match the specifications of a high performance racing shell setup. These two features give the Perfect Stroke machine a leading edge on the competition by allowing rowers to continue with their strength training off the water while keeping proper form and flexibility, making the transition back to a boat much smoother. The resistance system is electronically controlled; giving coaches the flexibility to alter the training force profile in any way they feel is necessary to improve their athletes.