Innovate Mississippi

Point Innovation Magazine Winter 2013

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YEAR IN REVIEW A Year in Review Sandra Buckley Entrepreneurial Development The entrepreneurial development team meets with more than 100 entrepreneurs annually to determine if their innovative idea or small startup venture is viable and, if so, how to effectively assist in their development. This assistance may come in the form of financial awards, business structuring, mentoring or participation in business development competitions. This year, the New Venture Challenge business plan competition saw its biggest competition to date. 40 businesses participated in the sixth annual event, which featured two competing pre-revenue categories, a student category and a commercial-stage showcase at the end of the competition. $40,000 in cash prizes and in-kind services from attorneys, accountants and web designers were awarded to the winning teams to help grow their businesses. The entrepreneurial development team spent 2013 hosting company creation events across Mississippi. After successful Startup Weekend events in Jackson in 2011, 2012 and 2013, Innovate Mississippi expanded Startup Weekends this year into Biloxi and Tupelo. Over the course of the year, 136 entrepreneurs, developers, graphic designers and business-minded people in Mississippi participated. The latest in technology and innovation from Mississippi entrepreneurs were showcased at the 8th Annual Company & Investor Spotlight, held in conjunction with the 14th Annual Conference on Technology Innovation. The entrepreneurial 36 Pointe Innovation development team skillfully prepared 10 presenting companies to pitch their business proposals to a panel of accredited investors and an audience of nearly 75 attendees. Among the numerous and varied startups the team assisted this year, one designs app-enabled technology to connect equipment, such as metal detectors, to smartphones or tablets for military and law enforcement applications; another is a manufacturer of a nontoxic natural biocide that kills drugresistant bacteria; while another is a technology company that has grown their texting business globally. Entrepreneurial development is key to the mission of Innovate Mississippi. Through the team's direct work with entrepreneurs and startups, Mississippi stands to profit from a larger workforce, higher-paying jobs and a growing economy that new businesses bring. InnovateMEP Mississippi InnovateMEP Mississippi had a productive and successful year, both in providing tremendous economic benefit to their manufacturing clients and in building new programs to serve Mississippi's manufacturers – particularly in areas to provide top-line growth. Manufacturing clients reported total quantified economic impacts resulting from InnovateMEP Mississippi projects of $767,232,643, including $674,129,785 in increased sales, retained sales and cost savings, and $93,102,858 in new investments.

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