The judges at last week's Ben Franklin Big Idea business plan contest had an impossible time deciding on one winner.
So they picked three instead.
For the first time in the event's history, the $35,000 grand prize winner was flanked by two surprise applicants who were each awarded $10,000. “These were some great opportunities. We couldn’t let them get away,” commented Steve Brawley, President/CEO of Ben Franklin Technology Partners (BFTP) of Central and Northern Pennsylvania.
At the top was Advanced Power Control Solutions (APCS), LLC, of Erie, Pa. Thomas Woodward, APCS President, accepted the grand prize honor, and the healthy $35,000 check. Two other Erie-based winners — reCap and Adaptmicrosys — earned $10,000. Erie County Executive democratic candidate and former US Congresswoman Kathy Dahlkemper was present for the awards. She acknowledged that for the immediate region, “innovation is what will move us forward.”
APCS is building its business through the struggles in the energy sector. Specifically, its new, emerging technology, dubbed HB3, is poised to revolutionize the coal industry. To understand how, a brief market snapshot must be digested.
Woodward said that while 40 percent of all domestic electricity is derived from coal, that number is declining. The inherent pollution and strict EPA standards leave utilities scrapping to compete with one hand tied behind their back. Woodward explained in order to curb emissions, power plants rev-down and operate well below capacity. One of the few current options is the installation of an expensive SCR – a unit that curbs emissions, but comes with a stifling one billion dollar price tag. Not knowing where energy will be in as short as ten years makes coal-dependent suppliers hesitant to invest.
As a result, in the US, “some coal plants are being shut down,” Woodward said. Conversely, the international landscape is booming. “Worldwide there is a scramble for energy,” he said. “In India and China, demand is increasing quickly.”
If coal power is going to survive and be competitive, sustainability needs to move into the front seat. Enter HB3. It is an innovative, hybrid burner that promises to reduce emissions while at the same time boosting output. How? By retrofitting existing coal powered plants with this burner that uses a combination of coal, natural gas and/or natural gas liquids.
Beyond competitiveness, there is a bigger picture: Public health.
“The number one determinate of health is air quality,” said Woodward. “I’m a big believer in alternative energy. I believe that is our future.”
Woodward explained the next step for APCS is to build a demonstration unit in order to clear all of the regulatory requirements. The location of it might be in Pennsylvania, he shared.
What will the $35,000 prize money go toward? “Adding staff,” Woodward said, “specifically an engineer.”
In addition to the funds, APCS won a six month residency at the Erie Technology Incubator at Gannon University, five hours of expert consultation on intellectual property from Attorney Jonathon D’Silva of MacDonald, Illig, Jones & Britton law firm, and free tuition for one year for classes through the eMarketing Learning Center.
Karen Rzepecki, founder of reCap, will be using her $10,000 to market her household product. Rzepecki conceptualized and developed a Mason jar lid with a pop-top spout. With this accessory, it is easier to shake and pour salad dressings, store and dispense pantry items, or take lemonade on the go – sort of like a nostalgic-looking sports bottle. The lid is made in Erie, and Rzepecki reports very good sales from amazon.com. With her new seed money, she will seek to expand her market, and get her lid in brick and mortar stores.
“Not everyone wants to shop online,” she said. She is also a semi-finalist in the Innovation Erie contest.
Reflecting on her business background and creative energy, Rzepecki said, “The difference between an entrepreneur and everyone else is an entrepreneur actually takes the steps. Everyone else just has ideas.”
One valuable slice of advice Rzepecki received from BFTP was to read the book, So What? Who Cares? Why You? by Wendy Kennedy. She did. “I’ve been trying to answer those questions every day since then,” she shared. Holding up her keyboard-size $10,000 check she quipped, “I am the luckiest loser ever!”
Dr. Kyu Jong, professor of computer engineering at Gannon University, says his surprise $10k will go toward international patent filings for his intellectual property. His company, Adaptmicrosys, LLC, developed a semi-conductor that boosts CPU performance while using significantly less energy in smart devices. Jong explained the smart device industry is a $500 billion market. His main challenge is protecting his idea internationally.
“Filing for patent status in other countries like India, Japan and China can be around $25k per country,” he said. Jong divulged he is currently in talks with Samsung about supplying them with his innovation.
Jill Edwards, Executive Director of the Ben Franklin Venture Investment Forum, said this business plan contest does more than just hand out big checks.
“It’s about getting more entrepreneurs connected to this network. Being an entrepreneur can be a lonely existence,” she stated. “Having people to talk to who have been there and done that is so important.”
Brawley emphasized to the crowd that “entrepreneurship is viable, noteworthy and praiseworthy. There is a population of people and opportunities who are investigating the resources available. There is no question about the entrepreneurial energy in Northwestern PA.”
BFTP is a program of the Pennsylvania Department of Community and Economic Development. It provides access to capital and business services for technological companies – new and established. The ultimate goal of BFTP is job creation and retention within the Commonwealth.
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