#5across

[awesomeinclex]

5 Across Feb 2018

Awesome Inc decided to ring in the New Year the only way we know how— by bringing the fun. Although the room was flipped 90 degrees, the familiar electricity filled the air. With noisemakers in place and excitement in the air, there was no mistake that the first 5 Across of 2018 was about to take place.

First up was a new way to aid stroke victims and make their rehabilitation more accessible. HandPrint is a 3D-printed, customizable glove that is said to be the first of its kind. Most gloves don’t have the flexibility in personal customization as HandPrint’s product, which sets them apart from their competition. 

 Next was iReportSource, an efficient way for companies to gather safety information for their employees. According to their website, iReportSource promises to “Enable and equip any employee to report hazards, safety suggestions, near misses, and even incident reports from the field to reduce total time from incident to resolution.” The application takes the heavy load that comes with employee paperwork, such as accident and progress reports, and puts all the information into one handy app.

With a background in gymnastics, Madison Hartung knows a thing or two about how complicated scheduling for gyms can be. Using her history and experience with gyms, Smart Rotation was born after winning second place winner at the 2017 Startup Weekend Lex. Smart Rotation solves the issue of overbooked or underused gyms, due to lack of updated scheduling. This software creates automated resource scheduling to ensure gym space scheduling is always up-to-date.

Pascal Tags is introducing an alternative solution for businesses facing headache-inducing issues, such as inventory distortion, overstocking, and out-of-stocking. Their battery-free tags help businesses keep track of items, while being cheaper than commonly used security tags, such as RFID and barcodes. Winning 2017 Startup Weekend Louisville gave this company a head start in finding a solution to this problem.

“The idea of a new “passive tag” came about because I would always lose my items or forget them before I would leave,” said co-founder Brandon Young. “I noticed that a lot of companies and inventory tags (bluetooth tags) only focus on losing items versus forgetting.”

The publicity from their Startup Weekend win allowed Pascal Tags to discover various new markets including businesses, museums, car dealerships, and more. They have a working prototype that is currently patent pending.

The last company was an inventive way for young high school athletes get a head start in their college careers. RecruitMeKY paves the path for high school students looking for the most feasible way to gain recognition in their sport, while also obtaining athletic scholarships. This recruiting service sends out the students stats to college coaches, while also publishing their information on the RecruitMeKY website. From archery, wrestling and football, this company offers students a chance to make finding a school a homerun.

As the last pitch wrapped up and the judges went into their deliberation, the audience chattered with excitement. When the judges re-emerged, the winner of the fan favorite using the 5 Across Vote app was announced. With the help of an audience drumroll, RecruitMeKY was announced as the fan favorites and the winners of $50, thanks to our sponsor SCORE.

The audience quickly hushed in anticipation of the first 5 Across winner of 2018. With an even larger audience drumroll, Pascal Tags walked away the champions.

“Our next step is to continually test our prototypes, continue to receive letter of intents, and continue to gain market research.” said Young. “All of the current industries want to buy our product right now, but we want to make sure the market size and barrier to entry is very minimal.”

Join us April 25 for the next 5 Across!

[awesomeinclex]

5 Across Finals

From February to October 2017, 20 of Lexington’s best startups competed, and some succeeded, in becoming 5 Across champions.  As the year has come to a close, each winning team of 2017 came back for the ultimate showdown— the 5 Across Finals.  This time around, the noisemakers were louder, the anticipation came to a boil and, with the chance to win $4000, the stakes were higher than ever.

Since 2010, Awesome Inc has been home to one of Lexington’s most innovative events. Coined as “the Shark Tank of Lexington,” 5 Across allows startups to pitch their ideas, while networking with like-minded members of the entrepreneurial community. The finals are a definitive statement of the most successful startups in Lexington. The four returning champs were: Smart Student Storage, Sum180, WelcomeHome, Enepret, and Billbusters.

First up was Smart Student Storage, a moving business aimed towards college students. Instead of students juggling final exams and prepping for their end-of-the-semester move, Smart Student Storage will pick up the student’s belongings and place them in a storage unit until the beginning of the next semester.

Second was October’s winner Sum180. The company allows users to set up a financial plan that suits their next big financial decision.  Co-founder and CEO Carla Dearing describes the company with five characteristics:

“1) Meet people where they are in their financial journey; 2) Respect them and understand that they are capable of moving forward if they are provided with simple step-by- step advice; 3) Be unbiased; 4) Not try to give them a finance degree but rather point them toward how-to’s that will help them solve an immediate concern; and 5) Have no ‘guy in the grey suit’ talking down to them.”

Next up was February 5 Across Winner, WelcomeHome. Founded by Kai Zhang, WelcomeHome connects internationals with desirable housing before arriving in the U.S. and helps qualified landlords and rental agencies identify long term reliable international tenants.

“Although our primary customers are internationals, we can also connect domestic customers with desirable housing if they need to move to other places,” said Zhang.

August 5 Across winner Chase Kempinski took the stage next and updated the crowd on his company, Enepret.  The business provides a substitute for common oils found in medicine, cosmetics and other personal care products, such as shark liver oil and olive oil.

The last returning champion was BillBusters, who won the June event.  Co-founder Tyler Menke helped create this company after they realized that him and his colleagues were being overcharged on many of their cable and internet bills. With this, they created BillBusters to give users an easy way to compare cable company prices. Additionally, the team offers to be the middleman in negotiating their customers cable and internet bills.

As the pitches wrapped up, the question remained: Who would be the grand champion of 5 Across 2017? Each company had already proved their worth in the world of startups, but it was up to the judges to decide the ultimate winner.  After a brief break for the judges to deliberate, the results were in.

Before the winners were announced, the fresh new logo for 5 Across was revealed and, based on the audiences reaction, very well received.

First up, the winner of the awesomevote app was the one and only Chase Kempinski of Enepret, who was awarded $50.

Second place and a prize of $1000 went to Carla Hearing of Sum180.

And last but not least, the grand prize winner of the 5 Across finals went to Kai Zhang of WelcomeHome. The judges had positive feedback for Zhang and by the look on his face, it was clear that he was thrilled.

“I received sufficient and valuable coaching from Awesome Inc before the pitch and learned a lot from other teams through the networking events as well,” said Zhang. “The $4000 prize money we won will definitely contribute to expanding our business.”

Join us next February for the kickoff of 2018 5 Across!

[awesomeinclex]

5 Across August 2017

A few dozen seats filled with noisemakers, nametags and the chatter of excitement can mean only one thing- another 5 Across is about to happen.  While children, college students and adults alike shuffled into Awesome Inc, there was an overwhelming sense of promise, inspiration and a hint nervousness.

Sure, everyone had their vague descriptions of each business on a small slip of paper, but seeing the entrepreneurs in action would show how great these businesses truly are.  The murmurs quickly quieted as each entrepreneur prepared to make their pitches in front of the 100+ audience.

First up was Enepret, a business that provides a substitute for common oils found in medicine, cosmetics and other personal care products, such as shark liver oil and olive oil.  With this, co-founder Chase Kempinski and his colleagues designed a new type of oil that serves the same purpose, but can be geared toward a variety of markets.

“We were always interested in the applications of the oils we’ve engineered our organisms to produce,” Kempinski said. “I love science, but I also believe it should serve a purpose.”

Next was BinerWorks, a duo who aim to take an ordinary biner and turn them into multi-faceted, unique designs.  The first variation Kelly Moore and Matt Able presented was a combination of a biner and lighter.  The second was a safety biner, which contains a blade among other tools to help in case of an emergency.

Introducing a substitute to traditional charcoal were high schoolers of Bio-Char, Sam Newman and Andrew Gazzaroli.  Bio-Char is made of paper and sawdust compacted into charcoal-like bricks and allows proficient grillers to maintain the smoky taste they love dearly, without the carbon monoxide.  With their presence, mannerisms, and confidence, you would think these teenagers were seasoned entrepreneurs.

The second half of the event brought John Mahoney, the founder of Moby. Using a mobile device, Moby helps to eliminate identity fraud and allows businesses to properly identify anyone, anytime.

To cap off the night was Hummingbird Nano, who presented a microfluidic chip that combines the flexibility of 3D printing with the efficiency of injection molding.  Co-founder Scott Stephens describes it as, “a component used in chemical analysis systems for detection in everything from drug discovery to forensics to disease diagnostics.”

Once each team wrapped up, the judges migrated into the conference room where a decision had to be made.  The vast variety of ideas pulsed through the room as the audience waited, antsy to hear the verdict.

As the judges emerged, Bio-Char was brought to forefront only to not be announced the winner. While they won crowd favorite through the awesomevote app, the two teenagers received personal donations from each judge for the first time ever in 5 Across history, which encouraged them to continue on their entrepreneurial journey.

At long last, after an inspiring night full of fresh ideas, Enepret walked away with the $500 grand prize and declared the winner of 5 Across August 2017.  

“The next few months are important for us and I hope I’ll have good things to report on when I come back to 5 Across in December!”

Join us next time on October 25 for another inventive and exhilarating event.

[awesomeinclex]

5Across Competition #1

The first Lexington 5 Across competition of 2014 is now in the books, with Seth McBee of Seke LLC taking the first victory on February 26th. Seth has patented an LED embedded safety vest that can alternate colors and lighting frequency to truly help people be seen and stay safe. Joining Seth is the winning team from the text vote, Arymza Technologies, a team that is working to commercialize a proprietary enzyme for breaking down starch more efficiently.

We had four teams competing this time as opposed to the usual five, technically making this only the second ever “4 Across,” but nonetheless, the competition was fierce. Rounding out the rest of the teams were Weather Resistance Structures, a team that has created a system for structurally reinforcing houses and buildings in hurricane or tornado danger areas, and Eazy Crease, a tool to allow easier marking of sports fields, such as basketball courts or soccer fields.

The next 5 Across is coming up at the end of April -- stay tuned for updates on that event and many others. Also, check out the new page for 5 Across! Be sure to follow @5Across on twitter for information on upcoming 5 Across events, and to keep up with the previous winners, as updates for them will be posted there.

By: Adam Chaffins

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How to give an effective elevator pitch

Get ready for the big question. The question that, right or wrong, people will judge you by.  People will subconsciously categorize you by your answer to this question. People will feel like they know who you are because of your answer. What sort of question could elicit such a response? No, nothing about religion, marital status or whether or not you eat tofu. The question is: “So, what do you do?” A person isn’t asking what your hobbies are, what you do for fun on the weekends, or even what your contribution to the betterment of mankind is; they want to know what kind of work you do. Believe it or not, this can actually be a golden opportunity to “sell” someone on your ideas, products, and services. A finely crafted elevator pitch will allow you to best market yourself and your venture whenever you are asked this pivotal question.

An elevator pitch is a short, concise representation of what it is that you do. It is named after the amount of time you would have to make a short presentation during a ride on an elevator. This pitch should be under 1 minute, but probably closer to 30 seconds to make sure you keep the other person’s attention.The elevator pitch should center around your company’s main purpose. For example, if you build houses, make sure that the other person understands that is what you do. It is important to highlight how your product or service is different from competitors and why that makes yours better (e.g. why the way you build houses should be chosen over other options). It is also crucial that you convey passion and excitement about what you’re pitching. Is selling dog blankets exciting for you? Express that in your pitch. Give the other person enough information so that they understand what it is that you do, and how it can benefit them. Make sure you ask them a question or give them an opening to ask you about your product or service. Finally, smile when you are giving your elevator pitch. Smiling can have a mood boosting effect on others.

Are you looking for a job, have a startup, or maybe still in school? If so, make it a habit to talk to people and inform them about you and what you’re looking for. Even a student can give an elevator pitch to try and find summer work or an internship. If you are in sales an elevator pitch should be a very important tool in your arsenal -- use it and you will certainly receive more leads.

Follow the steps below to create your own elevator pitch.

1.   Briefly detail your main goal with your product or service

2.   Explain why your idea, service or product is better than the competitors

3.   Express your passion through the pitch

4.   30 seconds to 1 minute

5.   Practice your pitch (time yourself)

6.   Smile, smile, smile

7.   Don’t forget, you’ve already come this far, ask for his or her input. You are not trying to “close” a sale on a person with an elevator pitch rather gauging their level of interest.

Below is a sample elevator pitch for a fake company, Widgets-R-Us, that builds mobile applications for schools.

“Our company, Widgets-R-Us, solves a need for instant communication between parents and faculty at grade schools through high schools all throughout the tri-state area. Since many of us here at Widgets-R-Us are parents as well, we understand the need to know and be updated when there is a school emergency, meeting or cancelation as soon as possible. With our apps, we can connect parents with faculty and allow them to relay information about non urgent matters such as school game highlights and scores, contact information, and changes in curriculum. We can also allow feedback from parents on items such as changes to the dress code. Do you know any parents or teachers that would find that useful?”

Where can you learn more about entrepreneurship and pitching ideas? Go to www.5across.org and come to the next live event!

By: Steve Osowicz