The final decision has been made! The winners of the Babson Competition are as follows:
In first place is Bluepak. The New York-based company enables local pharmacies to package an individual’s prescription and non-prescription drugs into single, easy to use daily packs. Bluepak will utilize a “razor and blades” model. The packaging machinery will be leased to pharmacies for a monthly fee at or close to financing costs, while the packaging materials will be sold to pharmacies at a determined markup. Given the thin margins faced by retail pharmacies, a low fixed cost model will increase the likelihood that pharmacies will carry the Bluepak.
In second place is Canditto, a patent-pending kiosk that collects photos your guests have taken at your wedding, party, or reception. It produces a CD collection of all the guests pictures by the end of the night. Its core business is renting its proprietary devices direct to party hosts.
Ranking in third place is Logimed, Inc. This company has a special, special device with a goal to allow for quick, safe, and easily
executed closure of laparoscopic incision wounds after surgical
intervention. The market opportunity that Logimed is addressing is significant. In 2009 and 2010, there will be approximately 3.5 million
laparoscopic surgeries in the US. Since every laparoscopic procedure
will require at least one Rapid Suture closure device, which priced at
$250, this represents a total available market size of $875 million
annually, according to Logimed. Logimed is currently in "private" mode on the Vator.tv platform.
Congratulations to Steve Mock for bringing in the most number of votes. GiftVenture received nearly 300 votes from the Vator community. Steve is the CEO and founder of GiftVenture which is a personalized treasure hunt service
where all of the materials are custom made and delivered to you. Vator would like to honor and recognize GiftVenture by giving Steve and his team the Viewers' Choice Award.
Thank you to all the companies participating in the competition. Vator was excited to see the strong exposure this competition received. Thank you to those at Babson forum on Entrepreneurship and Innovation for choosing to hold their esteemed competition on Vator.tv.