The Entrepreneur Competition is Sponsored by Central Bank.
The 5th annual RevRoad Entrepreneur Competition 2022 sponsored by Central Bank, kicked off Saturday morning with a trade show held at UVU’s Keller Williams Building. The 36 semi-finalist companies who made it past preliminary rounds stood at the ready as judges, community members, and event sponsors made their way to each booth. A few companies brought enticing hands-on demos for the judges to try; including Moon Scooter’s electric scooter ride, Yummy’s Korean BBQ food samples, Brush Towel’s golf club cleaning, and Immersive History’s VR headset.
After the trade show concluded, everyone made their way down to the 3rd floor where the judges and competitors split into groups for the semi-final pitching round. Each company delivered a five-minute pitch to a panel of six judges followed by two minutes of Q&A. The judges deliberated to select a unanimous winner from each group. After this round, everyone gathered in the auditorium to hear which six companies would move on to the final round.
This year, our competition finalists were as follows (in no particular order):
For the final round, each of the six finalists delivered their pitch in front of a live audience of over 200 attendees and 35 judges. After the final pitch, judges gathered in the lounge to deliberate over lunch. Each judge shared their assessment of the companies and collectively discussed each pitch in detail. Soon, the judges each cast their vote by ranking the six finalists in order of the scores they gave based on the following criteria:
- Is the founding team focused on a significant customer pain?
- Is it a detailed and unique solution? Better than competitors?
- Is there an established and growing market with significant potential to scale the business?
- Level of validation and/or traction?
- Do founders have industry experience and have an achievable go-to-market plan?
- How likely would you be to invest in this business?
“I appreciated the chance to judge the RevRoad Entrepreneur Competition this weekend. Lots of incredible ideas springing up here in Utah!“
— Emily Bell McCormick, President + Founder The Policy Project
Returning to join the public and the competing companies, it was finally time for the award ceremony. The competition finalists sat eagerly as they waited to learn their fate.
Here is the list of winners for the 2022 RevRoad Entrepreneur Competition:
CENTRAL BANK GRAND PRIZE
$10,000 cash prize sponsored by Central Bank
Errand— Errand is an on-demand errand running service. Their platform connects individual consumers with a contracted “Errand Runner” to perform any errand for them at any time of the day.
RUNNER-UP
$2,500 cash prize
Right Angle Engineering — Right Angle Engineering is streamlining the solar industry by automating the entire permitting process to minimize delays and cost. The software being created is another step towards affordable renewable energy for everyone.
THIRD PLACE
$1,000 cash prize
DreamCare — DreamCare provides access to high-quality affordable childcare. Their childcare is provided by student caregivers who live with their host family and get access to their online education. The student caregiver can graduate with their BA in less than 3 years with no debt!
FAN FAVORITE
$1,000 cash prize
Yummy’s Korean BBQ — Yummy’s Korean BBQ is a family-owned and operated restaurant concept that has introduced Authentic Korean BBQ to Utah. Their goal is to bring these Korean BBQ Grills to the entire world. Not only for commercial use but also for residential and outdoor use as well. They have teamed up with a company in Korea to produce these grills for virtually any setting.
GLOBAL TRAILBLAZER AWARD
$5,000 consultation credit sponsored by World Trade Center Utah
Wümgo— Wümgo is a revolutionary wearable child carrier engineered to protect kids if the wearer accidentally trips and falls. They have a utility patent for their protective technology and are the only wearable child carrier that has a hard outer shell and impact-absorbing liner.
E-COMMERCE PRODUCT AWARD
$1,500 cash prize sponsored by Thread
SurfMongers— Surfmongers is a wake surf company that provides light-up jackets that go over your life jacket so you can wake surf at night. They believe that your wake surfing experience shouldn’t end at sundown.
EXECUTIVE SUITE AWARDS
$5,000 value credit prize sponsored by Executive Suites
SmackSocial — SmackSocial is taking the format of a social media app with a news feed, but instead of seeing pictures it’s filled with events your friends invite you to. SmackSocial takes the headache out of coordinating hangouts with friends so people can spend more time together. Forget social media, get a social life.
BankHunter — BankHunter is the auto finance industry’s first car buyer-to-bank matchmaker, delivering the best loan options within 15 minutes from lenders who bid for your business.
APPLICATION DEVELOPMENT AWARD
$2,000 value credit prize sponsored by Builder.ai
BeeFriend — BeeFriend is on a mission to end the loneliness epidemic among the aging population, while also alleviating the struggles of children watching their parents grow older. Their service builds one-on-one relationships while also helping with daily tasks.
Every year the RevRoad Entrepreneur Competition, sponsored by Central Bank, brings together Utah’s finest entrepreneurs, leaders of the most successful Utah-based businesses, and community members to support amazing startups. From start to finish it is a day that showcases true ingenuity and grit from the founders that participate.
To see a list of the judges and companies involved click here.
Entrepreneurship is the promise of tomorrow. RevRoad is passionate about creating cultures that effectively support entrepreneurs determined to build a better future for themselves, their communities, and beyond.
This year, the community enjoyed riding mechanical bulls, networking over a pizza lunch, and cheering on their favorite growing startups.
The next RevRoad Entrepreneur Competition, sponsored by Central Bank, will be held in September of 2023. For more information or updates, visit ecomp.revroad.com or follow us on Linkedin and Instagram.
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