Purdue student business competition announces finalists, Demo Day presentation

WEST LAFAYETTE, Ind. – Three Purdue University student-based startups have advanced to the final round of the Boiler Mini-Accelerator Competition, or "Boiler," where they will compete for nearly $15,000 in funding.

The Boiler, a student-run business competition hosted by the Anvil, a community co-working space and business incubator in West Lafayette, is geared for aspiring entrepreneurs who seek funds to support their startup idea. The competition started in 2013 and aims to enable students to pursue entrepreneurship activities outside of the classroom.

"This year we have more teams, and more diverse teams than ever, which is really exciting," said Shane DeWael, Anvil director. "Typically, the majority of applicants have been software-based, but this year we saw a lot more diverse applications, with companies and students from all different majors and backgrounds. This is exciting because it allows a lot of different ideas and perspectives to mix, creating a more rewarding experience for all teams."

The Boiler takes place over eight weeks, and participants receive professional advice and business development strategies from entrepreneurial experts at the Purdue Foundry, a startup resource center in Discovery Park's Burton D. Morgan Center for Entrepreneurship. Teams also are provided with mentoring from industry leaders and experts, office space, workshops and funding to enable their startups to reach the next level.

The competition culminates on April 22, Demo Day, at the Anvil, where the three finalists will present their startups to investors, members of the startup community and a panel of judges.

Winners will receive $5,000, $3,000 and $1,500 for first, second and third places, with free and discounted professional services offered to teams that place first and second. These funding awards are in addition to the initial $1,500 each of the teams received to use as seed money and further develop their startups.

The three teams with a description of their company's product that are advancing to Demo Day are:

      * Aerial Agriculture, a startup which designs, builds and pilots Unmanned Aerial Vehicles (UAVs), or "drones," in-house, to collect specialized near-infrared images that depict crop health to reduce excess fertilizer and other input costs, while increasing yields.

      * OWL, a "Tamagotchi meets Fitbit." OWL is a wearable made for children, allowing goal-setting and tracking for fitness in a fun and easy way.

      * Socio, a social media application that revolutionizes the way people connect by introducing the "digital handshake."

The fourth- to seventh-place teams are CLC (Campus Language Connection), which matches international and domestic students to increase language proficiency, enhance cultural awareness, and expand a sense of community through face-to-face interactions; Frotato, a meal plan for students living off campus that can be used at restaurants around West Lafayette; Noms2Go, which is selling self-service lockers to restaurants for takeout orders; and Vertikale, which creates hydroponic food systems inside unused buildings.

About Purdue Foundry

The Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org

About the Anvil

The Anvil is a co-working space at Purdue University that serves the unique needs of passionate students, acting as the center of creative culture in West Lafayette. The Anvil focuses on providing local and student run startups affordable office space. 

Purdue Research Foundation contact: Hillary Henry, 765-588-3586, hkhenry@prf.org 

Source: Shane DeWael, 317-667-7235, swdewael@gmail.com