2005-06-01 10:30:42

2005 Drexel University Entrepreneur Conference and Business Plan Competition

2005 Drexel University Entrepreneur Conference and Business Plan CompetitionDrexel University’s LeBow College of Business Laurence A. Baiada Center’s 2005
Entrepreneur Conference, attended by more than 170 members of the Greater Philadelphia
region’s entrepreneurial community, featured a dynamic panel discussion on Innovation
and Homeland Security and announced the winners of the 2005 Business Plan Competition.

"The 2005 Entrepreneur Conference provides a poignant reminder that
the human spirit is incredibly resilient and creative," said Mark Loschiavo,
executive director of the Baiada Center. "Whether dealing with concerns
over the security of our corporations and people or finding ways to better
detect and treat debilitating diseases, creativity abounds. The thought leadership
and innovation presented at the event is proof of our ability to make a positive
difference in the region and the world. "

Panelists examined the need for continuous innovative technologies to ensure
a competitive advantage in bolstering national security. Panel members included:
Jatin S. Bains, CEO, Channel Logistics, Inc.; Joseph P. Brady, CERDEC, U.S.
Army; Julie Copithorne, Managing Partner, Founder, D3 Security Management Systems;
Zachariah Conover ‘04, President/CEO, CrossRate Technology, LLC; and Dr. Brian
Regli, CEO, Drakontas. The panel was moderated by Lou Bucelli ‘83, Entrepreneur-in-Residence,
ACIN Camden Center for Entrepreneurship in Technology.

After the discussion, the Drexel business plan finalists presented their plans
to an esteemed panel. The following winners were announced:

First Prize

FibrinX: Amol Gosalia, Drexel University’s LeBow College of Business,
Dhaval Gosalia ‘01

FibrinX: is an early-stage biotechnology company focused on developing wound-care
products from non-mammalian sources of fish plasma. The company is developing
a first-in-class fibrin-based sealant (from salmon plasma) for the wound-care
market and is currently undergoing preclinical trials.

The company received a cash prize of $12,000 and in-kind support from CMF
Associates LLC and Hunter. CMF professionals will provide entrepreneurial coaching,
business building and financial discipline advice and consulting for FibrinX.
Services will be provided for six months from June 1, 2005 - December 1, 2005
and are valued at $24,000. Hunter will work with the first-place winner of
the competition to position their brand and create a logo and tagline for their
company. Services are valued at $10,000.

Second Prize

Intuitouch, Inc.: Jason Rosenzweig, Drexel University’s School of Biomedical
Engineering, Science and Health Systems, Michael Herr, Entrepreneur-in-Residence,
Drexel University’s School of Biomedical Engineering, Science and Health
Systems, James Lundmark, Drexel University’s LeBow College of Business,
Ashish Khanna, Matthew Steege, Lynn Lundmark

IntuiTouch, Inc. is a medical device startup with the potential to become
a leader in portable breast cancer detection products. IntuiTouch is developing
iFINDTM as its flagship product for breast cancer prescreening. iFINDTM is
an accurate, affordable, handheld breast cancer prescreening device that can
be used at home.

The company received a cash prize of $8,000 plus in-kind support from ACM
Advisors, Communications Services & Support (CSS) and World Sales Solutions
(WSS). ACM Advisors will provide financial strategy consulting to the second
place winner of the competition, valued at $2,500. CSS and WSS will provide
a highly coveted sales tool – a thought leadership paper, values range
from $7,500 to $12,500 in writing, graphics, printing and expertise.

Third Prize

Biostrut: Practical Tissue Engineering Applications:
Dr. Wei Sun
, associate
professor in Drexel University’s College of Engineering, Andrew Darling,
Drexel University’s College of Engineering, Richard Darling

Biostrut will capitalize upon tissue engineering technologies developed at
the Drexel Computer Aided Tissue Engineering Laboratory to sequentially produce
scaffolds for the research market, the pharmaceutical bioreactor market and
the emergent global tissue engineering market. The team received $4,000.

For more information on the 2005 Baiada Business Plan Competition, visit http://www.lebow.drexel.edu/Centers/Baiada/BusinessPlan/index.php.