Recently, I was at a real estate seminar hosted by the business magazine InBusiness when I sat next to a man who looked familiar. My tablemate, Joe Carpenter, is an accountant by trade, but I quickly realized he was one of the “Hardworking Twelve” finalists in the 2015 edition of the Governor’s Business Plan Competition.
His new company, founded around a personal finance app called CountAbout, is not only thriving, but has recently paid back an angel investor he met through the contest.
Encounters like this are a constant reminder that Wisconsin startups come in all shapes, sizes and sectors. Everyone wants to see more young companies, but there are processes and programs in place to help steer them in a strong direction.
The competition, started in 2004 by the Wisconsin Technology Council with the support of sponsors such as what is now the Wisconsin Economic Development Corporation, has fielded finalists for 2024 in a variety of categories, ranging from potentially life-saving devices and apps to agricultural machinery, software-based creative writing programs for children and innovations in the food and beverage industry.
Anyone else reading this…
Independent judges recruited by the Tech Council heard presentations by finalists in four categories — advanced manufacturing, business services, information technology and life sciences — on June 5. Winners were announced the following day, based on the judges' scores and other competition backgrounds.
- A Madison-based company that designed a mobile app that examines babies' head shape to detect early and accurate risk of craniosynostosis and avoid surgery won the top prize in the life sciences category.
Developed by a team that includes craniofacial and plastic surgeons, the CranioSure app can detect premature skull fusion in infants. Co-founder Dr. Daniel Cho explained that if pediatricians don't identify craniosynostosis within four months, late referrals are twice as likely to result in open surgery, which can be distressing for both infants and parents.
The app's algorithms can detect abnormalities more accurately and sensitively than a physical exam, and once the app is fully developed, it will be made available to pediatricians, parents and others.
The leader in advanced manufacturing is Spray Cut
- Madison-based company has developed an agricultural sensor system used to spray pesticides in orchards. The system can be retrofitted to traditional sprayers and uses LiDAR technology to automatically choose between spraying tree canopies or open areas, reducing chemical costs and usage, as well as water and fuel use. The company's first unit was sold a few weeks ago to a 20,000-acre almond farm in California.
Rockhopper Ice Collective
- Pewaukee's Rockhopper won the Business Services class with a plan that allows businesses to serve different types of ice, from flakes to cubes and pebbles to custom, with one machine, addressing consumer preferences. By leveraging the Rockhopper platform, brands can better satisfy ice-savvy customers and increase profits through increased beverage sales. The plan was also the winner of the competition's “Best New Idea” category.
- From Dodgeville
- It won the Information Technology category for its WriteStories platform for elementary school students. With WriteStories, which can be used in the classroom or at home, children can choose a picture book from a curated online library and view the illustrations with the text of the original story removed. Children write their own creative stories to go with the pictures and share the resulting e-book with friends, teachers and family.
The history of the competition has shown that companies that make it into the top 25 are far more likely than other startups to last five years or more, likely because they receive step-by-step mentoring from people who know technology, business and investing along the way.
Wisconsin is by no means the biggest startup hub in the U.S., but as speakers at the real estate seminar pointed out, these tech companies continue to drive growth in markets like Dane County and sometimes beyond.
“Beyond” needs to become more vibrant, and WEDC's recent creation of a $100 million public-private fund may be part of the answer, since investing in rural and other underserved communities is one of the goals of the new Wisconsin Investment Fund.
Great startup ideas can come from anywhere, but they can only grow with the support of others.
Tom Still is president of the Wisconsin Technology Council. Email: tstill@wisconsintechnologycouncil.com.
