The Launch Place, a Danville-based venture capital fund, has named the winners of its 8th IdeaFest Pitch Competition.
The competition received 79 applications from various start-up companies located in the U.S. and abroad.
The winner of this year’s competition was Tromml, who was awarded a $5,000 cash prize. Tromml helps eCommerce resellers, specifically in the automotive aftermarket industry, optimize profitability through “real-cost” monitoring that points eCommerce managers to timely actionable insights. When using Tromml, resellers get order-line profitability assessments to quickly identify pricing errors, poor shipping estimates, and even the status of distributor return credits. When it is time to grow, Tromml will provide resellers strategic insights on their contribution margin while allowing them to see what items, suppliers and channels are driving revenue.
Second place and a $3,000 cash award went to Nanode Battery Technologies, Inc. Nanode Battery Technologies has developed a streamlined manufacturing process for battery anodes in a single step. BioSensys took home third place with a $2,000 cash prize. BioSensys’ mission is to bring medical technologies to realization to improve patient care in the area of vital sign monitoring.
The Launch Place, located in the River District of Danville, assists with business formation, job creation and retention through its business consulting services and investment funding, while having a dual responsibility to recruit and retain entrepreneurs to the Dan River Region. The Launch Place could potentially invest in the company from its Seed and Pre-Seed Funds that were established from a grant awarded by the Danville Regional Foundation. (Disclosure: The Danville Regional Foundation is also one of our donors, but donors have no say in news decisions; see our policy. You can be a donor, too).
Here are the finalists: