Missouri Business Flash: Three Columbia startups receive a a total of $125,000

7 months 1 week 13 hours ago Friday, October 13 2017 Oct 13, 2017 Friday, October 13, 2017 2:45:00 PM CDT October 13, 2017 in News
By: Shelly Hagan, KOMU 8 Reporter
loading

COLUMBIA - Forty-seven-year-old Amos Angelovici walked onto The Blue Note stage Wednesday night, ready to present his business idea to a 200 person audience and a panel of investors. With thousands of dollars at stake, Angelovici said he practiced his presentation at least 50 times in front of mentors, employees and family members before taking the stage.

AdSwapper, Angelovici’s app, was one of four startups to pitch its business model to investors in the hopes of raising money from the $2 million Missouri Tech Accelerator Fund. The fund invests up to $50,000 in Mid-Missouri startups to help launch their product or service. The other local startups included Testery, Ukatsu and Stor.

Even though the companies were vetted before coming onto the stage and had prior contact with the investors, the founders spent hours on perfecting their presentations.   

“It’s a long process. It starts a long time before that (event), where we start building our value proposition, figuring out our strengths and weaknesses, slowly building the whole story and showing our results and eventually practice, practice, practice, practice,” said Angelovici.

The event, called Missouri Tech Challenge, was organized with help from Bill Turpin’s Finance class at MU. Bill Turpin, CEO at the Missouri Innovation Center, along with True Media Founder Jack Miller and Veterans United Home Loans co-founder Brant Bukowsky took the stage as “Shark Tank” investors.

The four startups had 15 minutes to pitch their idea and then a Q&A session with investors. After the companies finished, the panel of investors took a fifteen minute break to deliberate. Testery, a service helping companies test their websites for errors inexpensively and AdSwapper, an app filtering ads on a mobile device based on if they agree to pay the user, received $50,000 each.  

Stor, an “airbnb” model for storage, received $25,000. Ukatsu, a development program for young gamers, didn’t received funding but was invited to pitch to the investors in December. The investors said they would like to see more of Ukatsu’s financials before investing.

The Missouri Tech Challenge was the first event of its kind in Columbia and Turpin said he would like to turn this into an annual event.

In other business news, Southwest passengers in St. Louis will soon have more choices for flights nationwide. Southwest is adding two daily non stop routes to San Francisco and San Jose from the St. Louis Lambert International Airport. The services will begin in April 2018 and tickets are available for purchase online now. Southwest is expanding its routes nationwide, with a recent announcement to add flights to Hawaii in 2018. 

Missouri leaders are stepping up their media campaign to lure in Amazon's HQ2 to the state. In a video released Tuesday, Gov. Eric Greitens said Missouri is a national leader and home of innovation according to the St. Louis Post-Dispatch. Kansas City Mayor Sly James and sports broadcaster Joe Buck also posted videos on twitter as to why Kansas City and St. Louis, respectively, would make good locations for Amazon. The videos come just over a week before cities must submit their bids to Amazon October 19.

More News

Grid
List
BRUSSELS (AP) — Facebook CEO Mark Zuckerberg faces senior European Union lawmakers later Tuesday to answer questions about a... More >>
6 minutes ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 5:22:00 AM CDT May 22, 2018 in News
COLUMBIA - The Columbia Police Department said it found a missing teen around 1 a.m. Tuesday. Authorities said Brice... More >>
47 minutes ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 4:41:00 AM CDT May 22, 2018 in News
COLUMBIA - Columbia residents will have a chance to learn about - and talk about - climate change Tuesday night.... More >>
2 hours ago Tuesday, May 22 2018 May 22, 2018 Tuesday, May 22, 2018 3:00:00 AM CDT May 22, 2018 in News
COLUMBIA - An on-going rift between two east campus communities has come to a breaking point. Non-resident property owners want... More >>
9 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:29:00 PM CDT May 21, 2018 in Top Stories
KANSAS CITY (AP) — A Kansas City man who told authorities he was hearing "voices" when he wounded two... More >>
10 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:07:41 PM CDT May 21, 2018 in News
COLUMBIA - More than 670 motorcycles poured into the Phillips 66 gas station off I-70 as the "Run for the... More >>
11 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 6:05:00 PM CDT May 21, 2018 in News
JEFFERSON CITY - A new fire station is in store for east Jefferson City, and the city council will review... More >>
12 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 5:10:00 PM CDT May 21, 2018 in News
ST. LOUIS – The St. Louis Circuit Attorney's Office announced late Monday that a special prosecutor has been selected in... More >>
12 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 5:00:00 PM CDT May 21, 2018 in News
COLUMBIA - Checking the phone constantly, surfing Facebook first thing in the morning or right before bed, playing games like... More >>
13 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:58:00 PM CDT May 21, 2018 in News
COLUMBIA – The UM Board of Curators voted Monday to increase tuition by up to 2.1 percent for the 2018-2019... More >>
13 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:44:00 PM CDT May 21, 2018 in News
COLUMBIA – Students will leave class early on Tuesday as the 2017-2018 Academic Year comes to a close. The... More >>
14 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:28:00 PM CDT May 21, 2018 in News
CAMDEN COUNTY - The Missouri State Highway Patrol is investigating a boating crash that left three dead and two injured... More >>
14 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 3:20:00 PM CDT May 21, 2018 in News
COLUMBIA -Utility workers began surveying land on Clark Lane for a sidewalk project designed to improve community safety. "The... More >>
15 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 1:40:00 PM CDT May 21, 2018 in News
JEFFERSON CITY (AP) — A House investigatory committee has expanded its membership for a special session to determine whether... More >>
17 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 12:00:47 PM CDT May 21, 2018 in News
ROLLA (AP) — A Missouri University of Science and Technology student has been sentenced to seven years in prison... More >>
17 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 11:40:00 AM CDT May 21, 2018 in News
ST. LOUIS (AP) — Ameren Missouri is planning a 400-megawatt wind farm in rural northeast Missouri, creating... More >>
18 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 10:44:00 AM CDT May 21, 2018 in News
POPLAR BLUFF (AP) — Authorities say a man's body was found in southeast Missouri and the case appears to... More >>
20 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 8:48:00 AM CDT May 21, 2018 in News
COLUMBIA – With a new terminal on the way, comes more possible changes to Columbia Regional Airport. A public... More >>
21 hours ago Monday, May 21 2018 May 21, 2018 Monday, May 21, 2018 7:55:00 AM CDT May 21, 2018 in News
Columbia, MO
Broken Clouds 58°
6am 61°
7am 62°
8am 66°
9am 70°