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November, 19, 2012

Recoverator wins 2012 Indianapolis Startup Weekend

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INDIANAPOLIS - Recoverator, a company that helps users catalog belongings and generate professional loss reports for insurance agents and law enforcement, was named the winner of the eighth Indianapolis Startup Weekend held Friday, Saturday and Sunday (Nov. 16-18).

Fifty-three participants competed, and five teams presented startup ideas during the event at The Speak Easy, 5255 N. Winthrop Ave. Typically during Indianapolis Startup Weekend, which is part of a global movement, several new businesses are developed and products are launched.

Nate Acuff, a founder at Recoverator, said the idea behind the app came from a friend's personal experience.

"Joel Meador, who also is on the Recoverator team, had several belongings stolen from his home. He found that he could have used the data that the app creates when he spoke with his insurance agent and the police," Acuff said. "The intense 54-hour Indianapolis Startup Weekend allowed us to pitch this product and work on it, then get immediate feedback from people who were excited about it. As a software developer, I found it terrific to work with people who are knowledgeable about pricing models and marketing, and those details are discussed and finalized immediately instead of over weeks or months."

Other startups presented during the event included TravLeague, which allows users to connect with other business travelers to build a network and enjoy the business travel experience; Social Crunch, which allows users to visualize their market through social media data; EventCRED, which documents professional expertise and showcases performance based on real challenges held at CREDible events; and Max Recovery, which helps athletes track, balance and boost their body's performance.

"The state of Indiana, and Indianapolis in particular, is strengthening its national reputation as a place startups can thrive," said Denver Hutt, executive director at The Speak Easy. "There are several programs throughout the state that benefit startups, and Indianapolis Startup Weekend has one of the best track records of developing new business concepts and bringing together the startup community to collaborate on ideas impacting the general public's well-being and the state's economy."

On Friday attendees pitched their best ideas for a Web or mobile application to encourage others to join their development team. On Saturday and Sunday teams developed and designed prototypes and business plans. On Sunday evening teams pitched their companies and prototypes to a jury, which provided feedback. The jury, composed of entrepreneurs, investors and technology professionals, voted on which startups had the most potential to become a success. Recoverator will compete in the Global Startup Battle 2012. People can vote for their favorite startup Nov. 21-28 at http://www.facebook.com/startupweekend and http://globalstartupbattle.org

Indianapolis Startup Weekend sponsors were The Speak Easy, Ice Miller LLP, SmallBox, KA+A, Alerding Castor Hewitt LLP, FarmersMarket.com, Rain King Ventures, Roundpeg, Purdue Research Park, IndyHub.org, TechPoint, Yats, Verge and Leah+Steven Shattuck.

About Purdue Research Park

The Purdue Research Park has the largest university-affiliated business incubation program in the country. The Purdue Research Park has four sites in the state of Indiana. They are Purdue Research Park of West Lafayette, Purdue Research Park at AmeriPlex-Indianapolis, Purdue Research Park of Northwest Indiana and the Purdue Research Park of Southeast Indiana. The nearly 200 companies located in the park network employ about 4,000 people.

Purdue Research Park contact:  Steve Martin, 765-588-3342, sgmartin@prf.org

Contact:  Nate Acuff, 317-441-0963, nate@expectedbehavior.com

Denver Hutt, denver.hutt@gmail.com