Ben Franklin’s BIG IDEA contests allow budding entrepreneurs and small business owners, the opportunity to take the first step in turning their ideas into a business reality – practically risk free!
This Year, Two Startups Each Won Prize Packages Valued at $150,000!
HARRISBURG, PA – On Thursday evening, May 26, 2016, at an event held at Level 2 on Second Street in Harrisburg, Ben Franklin Technology Partners of Central & Northern PA announced that this year’s winners of the BIG IDEA contest are Dennis Dias, the founder of FORAC LLC, and Ben Galluzzo and Dave Kennedy with MathEdge Fantasy Sports.
Located in York, PA, FORAC LLC developed an insurance solution (Share Tempus) for consumers and online marketplaces engaged in the “sharing economy”. The sharing economy allows consumers to rent or borrow virtually any item or service through online platforms. Despite its rising popularity, this growing marketplace currently has few options for customers to insure themselves from either damages or liability. FORAC’s management team has designed a proprietary solution that is already partnering with several sharing platforms. For more information, visit http://sharetempus.com
Draft Hog is a website developed by MathEdge Fantasy Sports located in Carlisle, PA. Co-founders Ben Galluzzo and Dave Kennedy are math professors who have developed a proprietary algorithm that lets fans easily rank football players in order to draft a winning fantasy football team. For just $19, the customer receives an annual subscription for Draft Hog which updates ratings in real time and actually tells the customer who to pick. Fans are also offered video tutorials that describe the full fantasy football experience. For more information, visit www.drafthog.com
As two of the eleven finalists who made presentations to an independent panel of judges, both companies were awarded prize packages that included:
- $35,000 in cash
- An Innovation Adoption Grant up to $25,000 to work with a PA-based research university
- Priority access to a low-interest $100,000 investment from Ben Franklin
- A one-year pass to seminars offered by Ben Franklin’s eMarketing Learning Center
- Free working space at the BF TechCelerator@Carlisle by CREDC valued at $10,000
- Consultation (and proposal prep) on accessing Federal R&D grant money valued at $3,000 from the Innovation Partnership
Jill Edwards, Executive Director of Ben Franklin’s Venture Investment Forum, commented, “We had so many strong finalists this year that we decided to also provide a $10,000 merit award. As CEO of The Lethean Company, Mr. Peter Eaton and his team will use the money to further develop an innovative medical device that keeps airways open during surgery.”
Stephen Brawley, President and CEO of Ben Franklin commented, “Our BIG IDEA competitions help entrepreneurs take the first step toward starting or growing a business while participating in a fun, risk-free environment. This year’s contest attracted the attention of nearly 6,000 people. We had so many great applications, it was difficult for the judges to choose just a few finalists.”