Each company won a $15,000 convertible equity investment from Tech 20/20. In addition, Innovative Vision Solutions won a $7,000 prize based on voting of those who attended the pitch competition.
“ThrottleUp!” was presented by the East Tennessee Regional Accelerator Coalition as part of the Tech 20/20-coordinated two-day conference that drew close to 200 people and featured a mix of local, regional and national speakers.
Tuesday’s keynote speaker was Eric Donsky, Managing Partner of Laguna Ventures.
Five companies presented during the “ThrottleUp!” competition. Judges were David Belitz of the Chattanooga Renaissance Fund; Charlie Crawford of Chrysalis Ventures in Louisville, KY; Vic Gatto of Solidus Capital in Nashville; Cameron Newton of NEST-TN in Tullahoma; and Betty Reed, an Atlanta-based merger and acquisitions consultant.
The two winners are in very different markets.
- Innovative Vision Solutions is commercializing a markerless motion correction approach for people undergoing medical imaging tests using technologies such as Positron Emission Tomography (PET) and Magnetic Resonance Imaging (MRI). The correction of motion-induced image blur is critical to the clarity and accuracy of the images that are captured during these procedures. The company was previously profiled on teknovation.biz at www.teknovation.biz/2012/10/29/throttleup-finalist-gleason-goddard-team-up-markerless-motion-correction-start-up/.
- LineShark has developed an interface that allows musicians to unleash the power of their mobile devices and avoid investments in a variety of items, such as guitar pedals, that cost $100 to several hundred dollars each. Instead, musicians can download apps to their phone that perform the same function, cost from $.99 to $5, and are used in conjunction with LineShark’s interface. The company was profiled on teknovation.biz at https://www.teknovation.biz/2012/11/05/throttleup-finalist-lineshark-helping-musicians-power-mobile-devices/.
The other companies presenting were Credit Virgin, focused on helping college students manage their credit ratings before graduating; SummerSett Foods, developing a buffalo chicken food product; and Vendor Registry, providing a more seamless way for vendors and government agencies to connect on procurements.