EDC Clients Win First and Second Place in Iowa Business Plan Competition
DES MOINES, IOWA—October 15, 2008– Entrepreneurial Development Center (EDC) client, Submittal Exchange, is winner of the Iowa Business Plan Competition, it was announced today at the 9th annual Iowa Venture Capital and Entrepreneur Conference in Des Moines.
John Pappajohn, who originated and sponsors the annual competition, presented a $25,000 check to Submittal Exchange of Adel for the winning business plan entry. The company has a comprehensive, secure online system for reviewing construction submittals electronically. The system reduces paperwork, saves resources, and improves collaboration of architects, engineers and contractors on construction projects.
Another EDC client, Reference LLC/Sensr of Elkader, a designer and manufacturer of acceleration recording instruments, was awarded $15,000 as the 2nd place winner. Innovation Vibration Solutions of Ames, which has developed optimal suspension solutions for vehicles, was awarded $10,000 for 3rd place.
“I congratulate all of the winners and honorable mention companies in this year’s business plan competition,” said Pappajohn. “The increasing quality of the plans being entered bodes well for the future success of these enterprises. Iowa is generating more entrepreneurs and increasing the opportunities for them to be successful.”
Director Michael Tramontina of the Iowa Department of Economic Development, said, “New companies with innovative ideas allow us to renew and revitalize Iowa’s economy and improve our quality of life through new products, services and career opportunities. We appreciate the increasing contributions that entrepreneurs are making in the state of Iowa.”
