Archive for the ‘Awards’ Category
Justin Bergener Named to 2009 vSpring Top 100 Entrepreneurs List
SALT LAKE CITY, UT–(Marketwire - March 31, 2009) - vSpring Capital announced today the 2009 class of the vSpring Capital Top 100 Venture Entrepreneurs, also known as the v100.
The v100 was created in 2004 by vSpring Capital as a tool to identify and recognize entrepreneurs who are most likely to experience successful venture returns with ties to the state of Utah. Members of the v100 become part of an ongoing community of entrepreneurs that fosters collaboration and provides advantages in building and growing companies.
Each year, vSpring asks members of the Utah business community to nominate individuals who are most likely to lead a successful startup venture in the next five to seven years in the IT (information technology) or biotech industries. These nominees are then asked to vote amongst themselves based on the same criteria. Those nominees who garner the most votes from their peers in this second step of the annual voting process are then elected into the v100 and become members of this ongoing community of entrepreneurial leaders.
“This year over 10,000 members of the Utah business community were solicited, creating the most complete list of nominees possible,” said Dennis Wood, director of human capital at vSpring Capital.
“The v100 process is unique in that members are selected not by a committee or a panel of judges, but ultimately by their peers,” said Professor Scott Schaefer from the University of Utah and member of the audit committee who oversees the v100 selection process. “This gives the results a unique and compelling validity, while helping ensure the integrity of the v100.”
This year’s v100 announcement comes during one of the most difficult economic downturns in decades. “We are pleased that in this down economy, this year’s list supports the idea that entrepreneurial success can not only happen in spite of the economy, but sometimes because of the economy,” Wood stated. “These designees demonstrate that companies are achieving results in this environment.”
“Entrepreneurship is one of the key factors of production that will help strengthen the current financial environment through its ability to help generate economic development in the communities in which they are located,” stated Jon Walker, an analyst at vSpring Capital. “I firmly believe we are just starting to tap the vast entrepreneurial potential and resources that this state and region have to offer.”
Mr. David Checketts, Chairman of SCP Worldwide, will address the v100 community at an exclusive luncheon on May 7, 2009 at Rio Tinto Stadium.
“Mr. Checketts is the ideal keynote speaker,” Walker stated. “We are glad to properly recognize the current and future accomplishments of the v100 inductees and current members at this event.”
vSpring Capital is an early-stage venture capital firm that invests in information technology and life science companies. With offices in Utah and New Mexico, the firm has over $390 million under management.
Facts about the v100 Class of 2009
A complete list of members in the 2009 v100 is enclosed below. Be advised that positions/companies noted were current as of the date of the compilation of the 2009 v100 list of members. This year there was a tie in the voting, making a total of 106 members. For additional information about the v100 or vSpring Capital, please contact vSpring’s Jon Walker at 801-942-8999(wk) or jon@vspring.com
http://www.marketwire.com/press-release/Vspring-Capital-968137.html
1st Place eBusiness Competition
Bullying and violence in schools has become a serious problem, and School Tipline, an online business where students and parents can anonymously report bullying, drugs, and harassment, is one of the many solutions to this problem. These reports, which are sent to school administrators and police officials to help remedy any issues that may exist.
This business, started and currently run by business management student, Justin Bergener, recently won first place in the e-business category of the Business Plan Competition (BPC), sponsored by the Rollins Center for eBusiness. Bergener walked away from the competition with a $5,000 cash prize and recognition as the best proposed e-business venture.
“It was really exciting to win this competition,” Bergener says. “We also had the opportunity to participate in many other competitions. We have worked hard and School Tipline has done great things for students already.”
Bergener’s business also won first place for at the Northwest Venture Championship in Boise, Idaho, and earned second place in the BYU Social Venture Competition.
The business has had much success since its inception in October, providing assistance to students in need. Schools pay a subscription for the service, and Bergener has plans to release new features that will make the business even more effective.
The other top three e-businesses in the competition were Qgia, Fishbowl Fund, and My Invitation Link. Qgia is a web application that transforms static video to an interactive video. Fishbowl Fund is a service that allows stock investors to manage a mock portfolio where they buy and sell with virtual money and allows them to view others portfolios. My Invitation Link is an online digital wedding invitation service that would be sold through retail outlets.
“I was impressed by the quality of the business plans we received,” says Sandino Roman, student leader over the e-business competition. “Students participating were enthusiastic and had bright business ideas. Their presentations were superb.”
25th Annual Moot Competition
After taking first place in the Northwest Venture Championship in March, Justin Bergener and his team for School Tipline took their business plan to the highest level of competition play.
The Global Moot Corp Competition, often called “The Superbowl of World Business Plan Competition,” took place at The University of Texas at Austin 30 April 30 through 3 May . Here, thirty seven teams from top MBA programs around the world presented their plans to competition judges and potential investors.
Bergener’s business came in as a semi-finalist and was awarded $2,000. The team also won the Outstanding Presentation award for their division. To date, BYU had only had one team make it to the semi finals. This year the university had two with School Tipline and Klymit, an innovative outdoor clothing business, which won first runner up overall.
The champion of the Moot Corp Competition was NeuroBank from Carnegie Mellon University, a company that has developed new methods for extracting and preserving adult neural stem cells. The company received a prize package worth $100,000, which includes faculty aid from the McCombs Business School, a launch package that will help start their company, prosecution of the first American patent by the company Ropes and Gray, and the opportunity to open the NASDAQ Stock Market on 15 August. Top schools with novel business ideas made for tough competition.
“A lot of those teams take entrepreneurship pretty seriously,” says Bergener, a sociology major from Zillah, Washington. “We were mostly a young team with only one grad student. We were up against good competition.”
Teams submitted written business plans and presented their ideas before judges and investors.
Rob McMillen, one of the team members and an MBA student from Twin Falls, Idaho, said, “I think the biggest learning opportunity for me was to learn to pitch a deal. The pitch was what we focused on and I think we focused on the right area.” He says that is what helped the team get to the semi-finals.
All team members agree that the competition was a valuable learning experience and encourage other students to enter such competitions.
“Get out to as many as you can, even if you have to pay your own airfare,” says Barrett Edgington, a strategy major from Orem. “In the long run it’s worth it.
The team isn’t planning on entering anymore competitions this year. However, they are not putting School Tipline on hold either.
“We’re going to focus on our service, the market, market needs, and see if our plan needs some more tweaking,” Bergener says.
Schooltipline Takes Second in Business Plan Competition
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SchoolTipline is a tool for students to report concerns about safety to authorities.
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As a new school year begins, parents, teachers, or students who have had negative social experiences in the past may feel apprehensive. Many questions go through their minds: Will my child make friends? Will the students in my classes get along? Will there be a safe learning environment for everyone to grow? How can I protect myself without my friends thinking I’m a tattletale? BYU student Justin Bergener considered these worries and worked with MSE faculty member Betty Ashbaker to create School Tipline, a hotline for young students to combat bullying, harassment, violence, and drugs in schools.
This innovative venture allows students to report bullying, threats, and drugs while remaining anonymous by using electronic communication methods such as text messaging or the Internet. The practical nature of this innovation earned the SchoolTipline business plan a second place honor at the 2008 Business Plan Competition held in the JSB Auditorium by the Marriott School.
Bergener noted that very few students are willing to pay the social price required by current reporting methods. “Students prefer to communicate online or through text messaging because that’s where they feel most anonymous.” In addition to being seen in the principal’s office or talking to the teacher, reporting will often hurt a student’s ‘social status,’ he said. “Some even refer to it as ‘social suicide.” Utilizing the modern technology of text messaging or Internet reporting allows them a way that is safe—both physically and socially—to reach out for help.
“The idea for School Tipline came a couple of years ago, after my sister was harassed after reporting something very dangerous at her school,” Bergener explained. “I saw what happened to students who try to do the right thing; after that incident, she swore she would never report again.” Bergener realized the extent of the problem and sought to change it for students of all ages.
Utilizing the modern technology of text messaging of Internet reporting allows students a way that is safe to reach out for help.
SchoolTipline focuses mainly on students from grades K—12. “Anywhere in those ages there is bullying, harassment, drugs, and violence,” said Bergener. “Many potentially very dangerous situations occur as early as the 3rd grade.” Bergener explained that bulling peaks toward middle school years, then when students are in high school turns into less obvious but just as harmful practices such as hazing or harassment or drugs. “We can see examples of violence in the media and the news,” commented Bergener, referring specifically to several recent school shootings and a plot by elementary students to kidnap and kill their teacher. “Obviously, there are serious threats at very young ages.”
Bergener’s Tipline seeks to cut off such problems in the earliest stages. Currently over 40 schools in 6 states use School Tipline. Rosanna Ungerman, principal of Dixon Middle School in Provo, UT, implemented School Tipline at her school. “Students always know before adults where there is crime, threat, or activity that is—or will be—dangerous,” she said, as quoted on School Tipline’s official website. “I want [students] to know they have a place to report without being identified, if necessary.” (Original article can be viewed at
http://education.byu.edu/news/news381.html)
1st Place Northwest Venture Championship
Every year, universities across the U.S. and Canada attend the Northwest Venture championship to pitch their ideas and business plans. The competition included some great startups and top-notch students, but the SchoolTipline Team came out with first place in the undergraduate track and won some cash, in-kind services, and pictures on the BSU smurf turf.
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