GW Team Wins $20,000 in Business Plan Competition
HealthEWorks, a service that customizes and improves health education for patients in urgent-care situations, won the $20,000 first-place prize at the GW Business Plan Competition. The event involves teams of GW students and alumni competing before a panel of judges to see who can present the best business plan.
The money, along with $10,000 in awards split among three teams of runners-up, will help launch start-up companies.
The April 15-16 competition, part of the GW Summit on Entrepreneurship, was sponsored by GWSB and the Center for Entrepreneurial Excellence. More than 100 entries were received.
“We’re incredibly appreciative of the opportunity to be part of such a wonderful process,” said David Mathison, one of the members of the winning team and an MBA candidate at the GW School of Business. “It’s exciting to make a product that’s good for both patients and hospitals.”
Winning team members Christina Johns, David Mathison and Moh Saidinejad are all pediatric emergency room doctors. As health care providers, the gap in health education provided for patients became very apparent to them. This spurred the idea for HealthEWorks, which will help patients better understand their illnesses.
The Business Plan Competition finalists survived three elimination rounds over a two-month period. During the final round on April 16, each team presented creative and innovate business plans to a panel of successful entrepreneurs and business leaders. The presentations were modeled on a format used in venture capital presentations.
First runners-up James Albis and Raymond Marcovici presented two aromatherapy products to help reduce hunger and increase energy. Second runner-up Ari Menase detailed a plan to import Angus cattle to Turkey for breeding and sale. Third runners-up Richard N. Bradford and Kate Comiskey had a plan for a personal security training service for federal employees.
“The GW Business Plan Competition is an amazing opportunity for GW students across campus to turn their entrepreneurial dreams into a reality,” said entrepreneur John Rollins, who launched AZTECH Software Corp. and served for 30 years as its CEO and chairman before founding StreamCenter, a Maryland company that produces and markets webcasts of professional conferences.
The GW Business Plan Competition, funded by Richard and Annette Scott, awards $30,000 in cash prizes to GW teams presenting great ideas for new products or services. At least one member of the team must be currently enrolled at GW. The Scotts‘ daughter, Allison Scott Guimard, graduated from GWSB in 2005.
In the picture, from left: Winning team members David Mathison, Christina Johns and Moh Saidinejad are all pediatric emergency room doctors.Article contributed by the GW School of Business.