RALEIGH, NC–TWo technology-based business plans won top honors in the 14th annual $10K business plan competition at North Carolina State University.

The competition is held by the Entrepreneurship Education Initiative at NCSU’s College of Management.

First place in the undergraduate division went to InfuseTech, a Raleigh-based company that plans to develop ways to infuse skin care products, such as powders and creams, into textile applicators made of nonwoven fibers.

The company would license the technology to companies in the skin care industry.
“Companies currently are only infusing clear products,” said Kyle Blakely, InfuseTech’s president and founder.

Blakely, a senior in textile and apparel management at NC State’s College of Textiles, said he is exploring graduate school and other options following graduation while continuing to work on his company. He also is starting to seek researchers to develop the technology for his product.

First place in the open division went to Simple Decisions, Inc., a company based in Denver, Colo., that provides retailers with a web-based tool that their online customers can use to help them make informed buying decisions.

“Our approach is to replicate the interaction that a consumer would have if shopping in a store with the assistance of a well-informed sales associate,” said company founder Joshua M. Churlik.

The online tool uses a brief survey to help buyers clarify their needs and wants. Based on the survey results, it offers purchase recommendations. The tool is intended to help shoppers make complex purchase decisions for feature-rich products, such as cell phones.

Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org

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