Tuesday, October 6, 2009

LAUNCH Winners Selected

The LAUNCH finals were held on September 30th at the Peoria NEXT Innovation Center. The business plan competition was coordinated by the chambers of commerce in Pekin, Peoria, East Peoria and Morton, plus SCORE Bradley University's Turner Center for Entrepreneurship and Peoria NEXT Innovation Center.
Sivaprasad Akasam and Sridhar Deivasigamani won the competition with their their Intellihot water heater concept. They received several prizes, including membership in the area chambers and a grant of $3,000 to help start the business. Their business, Intellihot Green Technologies, hopes to produce and sell a tankless compact water heater. The pair of entrepreneurs previously worked as engineers at Caterpillar.

The other finalists at the LAUNCH competition were:
  • Medicine Management System, which hopes to sell software that will make tracking and use of prescriptions and medications easier;

  • Drake Bed and Breakfast, which will be located in downtown Morton and also feature a bistro;

  • U-Exchange, which is an internet based website that hopes to match up buyers and sellers of college furniture, equipment, supplies, etc.;

  • Tranquilitea, located in Peoria Heights, will be a specialty tea lounge serving teas and specialty drinks;

  • Fashion Highway, a business looking to help fashion students promote their designs.

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