(Danville) — A Danville-based venture development firm handed out some big money Wednesday to a pair of up-and-coming businesses.
The Launch Place teamed up with Dominion Energy Innovation Center for the 9th Annual IdeaFest. That’s a business competition where innovators pitch their startup idea to a panel of judges and a live audience.
The Launch Place got 115 applications and narrowed it down to 20 finalists.
First-place honors went to Mas Refund. That’s a bilingual Spanish English tax filing app that takes simplifies tax filing for those who struggle with English. They got five-thousand dollars for development.
The runner-up was Social Cascade. That is an AI-powered platform reducing health disparities with strategic patient engagement and education. They got three-thousand dollars.
Third place went to OsRostrum. That’s a technology platform that combines patented 3D scanning, computer vision, and machine learning algorithms to help cattle farmers spot physical indicators of health and resilience in their cows.
Also, the Dominion Energy Innovation Center’s $5,000 Clean Bonus Prize went to Scale Materials. They transform industries with better materials.
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 IdeaFest competition exposes The Launch Place’s services and funds to start-up companies that are ready to launch, or are seeking early stage capital.
The Launch Place could potentially invest in an IdeaFest finalist company from its Seed and Pre-Seed Funds that were established from a grant awarded by the Danville Regional Foundation.