June 17, 2013 · 4:00 am

WHO DO YOU TRUST?

PIVOTJohn Jonelis—Verbatim from special correspondent, Donatas Ludditis

Welcome—welcome to Ludditis Shots & Beer! Glad you come in.

Got question for you.

Don's look-alike

Don’s lookalike

I hear about this guy: Nikhil Sethi his name. No, don’t ask me—I never say it right. He got easy way to advertise on social web. His outfit called Adaptly. Got three slick platforms that work as if by magic. And his company, it grow like crazy! This I want to know more about.

SPEAK UP! WHAT IS THAT TERRIBLE NOISE, YOU SAY? IS ONLY “L” TRAIN.PRETTY SOON YOU NO NOTICE. DRINK UP. I GIVE YOU MORE. IS ON HOUSE!

Ludditis Shots and Beer

Pivot to Success

There you see? Is quiet now.

So I go to big Northwestern University event and hear him speak—entrepreneur@nu they call it. Hey, finish drink. I give you highlights only. Here, I got notes—wait, my thumbs too big, even for this gadget.

Editor’s note—Ludditis keeps his notes on a huge Samsung Note II phablet but his fingers look like sausages. Ah, he’s found his notes:

Business only three years old. It still baby but look how big already! He start when still at university. So how he get funding to grow so fast? He say, “If you ask for money you get advice. If you ask for advice, you get money. We ask for a lot of advice.”

Nikhil Sethi at e@nu

Nikhil Sethi of Adaptly

He make me think. He say, “Technology just way to copy some kinda human behavior,” or words like that. I crank that over in my old noggin a long time. It finally sink in.

Then he say, “At any given moment, eight groups are working on the same idea. Somebody will do what you’re doing whether or not you do it yourself.”

So outa all them company’s, maybe only one is winner. How you become winner? I like answer he give. He keep pushing to next level. You think he too pushy? That is what make success. Drive, he call it.

Hey – there no be this bar if I not drive business. Is same for this guy. audience-angle Another thing—nowadays startups all in big hurry. Wait, I check word: “Minimally viable product.” Yeah that is what these kids make nowadays. They put junk out there and see how people like it, then change, then change again. “Pivot,” I think they call it. “Fake it till you make it,” he say, “You don’t know you missed it till you miss it.”

You want truth? I like this new way. Is quicker than expensive marketing study and faster too.

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What Makes a Great Team?

What about his people, you ask? Every team member must understand deep root of why they do what they do. That way it make sense to them.

Then surprise: “Don’t hire your friends,” he say. “It is about going into a world that’s not so friendly.” Then he say, “One of the biggest reasons for failure is difference of opinions between founders. It’s like dating. You want to know each other’s deepest and darkest secrets. If you don’t find out now, it will come out later.”

Seem like – how you say – contraption. Non-sequencer maybe. I mean I cannot put his two ideas together, but lots o’ times I no can put two ideas together. So I give him benefit of doubt. Here, I pour you another—no worries.

Nikhil Sethi

Nikhil Sethi

How he keep growing so fast? Is initiative! “We make sure we keep reinventing ourselves at a high rate. Our rate of change is ridiculous. We have to destroy and reinvent the business every six months.”

So he create when he destroy. “These things are working and growing but they’re not going to keep working and growing forever. It’s hard to throw something that’s working in the garbage but you gotta do it. There no lack of opportunity—only lack of focus.”

I say it take special talent to do that. Startup is high-stress. I like bar a whole lot better. So I get rough and throw out troublemaker sometime. That – what you call – therapy. Let off steam. Is good for the old ticker. Here, have another shot.

When can he break his own rules? “When you need to.” He says. “It’s a gut feeling. You first have to understand what the rules are.” e@nu-conference How he know what advice he take? “Ignore everything and only do what you think is right. Otherwise, it hinders making a decision.” Then he bounce this off wall: “Get your advice from a limited group of trusted people. The biggest decision on picking a board is you trust each other. Find people you can trust.” To me it sound like another contraption, but I see wisdom on both sides. I live my whole life with people I trust. Is best way to live. Best way do business.

You already have enough drink? Come back and I tell you how student companies make money.

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PART 3 COMING SOON

GO BACK TO PART 1

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ContactsInc Magazine Cover

Follow Nikhil Sethi on Twitter – @nsethi

Adaptly

Entrepreneur@nu Pivot to Success Conference

Forbes - NU most entrepreneurial Inc. Article on NUvention

Forbes article – “63% of NU students claim they want to start their own businesses”

Photographs courtesy Northwestern University, Adaptly, John Jonelis Studios.

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money. .Copyright © 2013 John Jonelis – All Rights Reserved . .

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June 14, 2013 · 4:00 am

IF WE BUILD IT, THEY WILL COME

BANANASMoises Goldman PhD – Guest Writer

EDITOR’S NOTE–Everybody’s familiar with the phrase.  But is there a genuine application in industry for IF WE BUILD IT, THEY WILL COME?  Here’s one offered by a highly respected source:

Many in industry believe that logistics is now THE important field of study. Nothing could be further from the truth.

Logistics is simply a natural process that is part of any enterprise. It is inherent in any enterprise trying to minimize cost, maximize profits, or simply optimize its performance. (I am not talking about probabilistic or statistical studies.)

Moises Goldman 2

Let me clarify with an example: When Dole Foods or Chiquita Banana initially found that better fruit was grown in Latin America; they initially went down there, picked the fruit, and brought it back to the U.S. for processing.

Low Hanging FruitUltimately, common-sense logistics influenced their thinking and they moved their processing plants close to the source. This not only made economic sense but also being close to the fruit allowed them to be first in picking the best.

By moving industry to the source, it will remain close the best fruit it can pick. If we break ground close to the source, I am certain that: IF WE BUILD IT, THEY WILL COME.

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GO BACK TO PART 1

Contacts

This article was adapted from a paper for the Institute for Work and the Economy by Moises Goldman PhD. www.workandeconomy.org

Moises Goldman—Moises6@comcast.net

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved

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June 10, 2013 · 4:00 am

CLEANTECH COMPETITION

Claire Tramm - Effortless Energy TImpact Engine—Part 7

John Jonelis – Verbatim from a special correspondent

Loop Lonagan here with a real simple story. I’m at the CHICAGO CLEANTECH COMPETITION watchin’ ten green companies go head-to-head for the chance to move on to the international GCCA contest.

Hey, dis old world needs a good scrubbin’, doncha think? I’m here, trying to use my natural greed on somethin’ constructive fer a change. I glance around and see a company I know has da potential. We’re gonna hear some good stuff.

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Effortless Energy Logo

Claire Tramm CEO

Lemme ask you a question:

Elec MeterIf you could make your house energy efficient with no effort and get paid to do it, would you?

Effortless Energy is planning to make that happen. Here’s their offer:

  • Their experts figure out what your house needs. Then they find the contractors and do the work. You just sit back ‘n’ sip yer beer.
  • They pay for everything. They add insulation, plug air leaks—all the stuff that makes yer house comfortable and cheaper to live in. Effortless Energy 35 percent
  • Then they split the energy savings with you.
  • You get a nicer house, more money in your pocket every month, and you don’t plunk down any up-front money at all—nada.

With an offer like that, who wants to rob their bank account or take out a loan? Who Claire Tramm - Effortless Energy 2wants to wait years fer da payback? Who wants to go through the hassle o’ hiring alotta contractors? This makes me smile, ‘cause now I ain’t gotta do them things no more.

And yer helpin’ the environment by doin’ it! Inefficient houses is a big part o’ da carbon footprint and there’s 120 million in the USA. Hey, that’s a $230 Billion opportunity fer Effortless Energy! This one looks like a winner to me!

Effortless Energy Home GraphicI hear talk and read stuff—all kindsa complicated explanations about what they do, but it’s really a no-brainer. I got an old house. I want to work with these people. Don’t you?

Have a look-see at their video:

So’s I listen to nine other presentations. Some sound pretty terrific. Others don’t look like real companies. Now the distinguished judges is leavin’ to select the winners. Will they pick the best ones? Don’t make me laugh.

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Strange Goings On

The judges is leavin’ to vote on the winners and the audience just moved to the feeding trough. So I’m just sittin’ there when one judge—this delicate oriental lady—hangs back and asks Rong Mayhem to give back her business card. To me that shows good judgement.

But Rong holds it outa reach and asks, “Why do you put PhD at the end of your name?” Sheesh! I mean, why do you suppose? After summore o’ that kinda behavior, she stamps her foot and insists.

His response? “I’m gonna have to put you in my doghouse. That’s for people who give me trouble.” Actually, he used a different word than doghouse, but I can’t say that here.

So I finally speak up: “Rong, she hasta go do the judging. You wanna keep us here all night?” So he hands it over and things get back to normal for a while. Sometimes strange things happen at these events. It don’t bother me none and it’s kinda fun to watch.

When da judges finally file back in, they pick some pretty good companies, but my favorite ain’t one of ‘em. But who can tell what’ll happen when these ventures hit the real world? Here’s all of ‘em and da skinny on what they do:

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Da Competitors

Software to drive energy efficiency in industrial buildings with alerts.

Wind generator using a venturi to increase safety and efficiency.

Synthetic diesel and jet fuel from garbage.

More efficient hot water solar panel using a mirror.

  • Greenlight —5th Place

Smart Meter for consumer electricity savings.

Make your house energy-efficient for free and get paid for it.

Pelletized torrefied wood to replace coal in power plants.

  • Kriisa Research

Reliable and stable portable energy fer developing countries.

  • Chicago Nat Gas Tanks

Custom low-pressure tanks to carry nat-gas using NuMat MOF technology.

  • Community Retrofits (participated via Skype)

Just like Effortless Energy, but for entire community associations.

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Da Judges

From readin’ the stuff on these judges, I get the impression they ain’t the kinda tree-huggin’ folk I expected:

  • Ben Brown—Clean Energy Trust—Expert on energy systems. Commercializes renewable energy with alotta hands-on experience.
  • K. Quentin Burchill Jr.—Angott Search Group—Track record fer matching energy companies with the right investment firms. Another hands-on guy.
  • Barbara A Fatina, CPA, MBA—Argonne National Laboratory—Deputy CFO at Argonne and big business. Energy operations experience. She builds businesses and teams.
  • Jared Gonsky—LanzaTech—Groups businesses on a global scale. Experience in ethanol, VC work, marketing and supply chain in big business.
  • Diana Y Hu, PhD—Molecular physicist and Biophysicist. University of Chicago MBA. Education of foreign-born professionals and clean energy.
  • Philip M Martin—United Airlines—Finance, development, operations, process—especially in transportation. University of Chicago MBA, which counts fer a lot with me.
  • Mark Menarik—UltraCarbon—Serial entrepreneur in tech, alternative energy and nano materials. Focuses on cleantech scale-ups.
  • Travis Narum—Acciona Energy—Wind and solar energy expert. West Point grad, and that ain’t nothin’ to sneeze at.
  • Anthony F Toussaint PhD, MBA—DSM Functional Materials—Chemical industries expert. R&D in fiber optics. PhD Chemical Engineering, University of London. Kellogg MBA, which gets top marks from me.
  • Klaus Voss—BW India—Long-time entrepreneur in environmental energy and biotechnology. Commercialized bio-wastewater tech for Mexico, India, and the ASEAN community. Another hands-on guy.

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Da Organizations

Dis thing is put on by some good folks:

One of over 50 global clusters responsible for nominating companies eachChicago Clean Energy Alliance logo year for the Global Cleantech Cluster Association’s Later Stage Awards competition.

They connect cleantech companies globally to create value chains. They seek GCCAcompanies that are scalable, equity investible, and willing to take risks. Their ten 2011 winners raised $462 Million.

Northwestern University – Kellogg School of Management accelerator located Impact Enginewithin the 1871 incubator. Linda Darragh’s baby.  Focus on social entrepreneurship.

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Photos and Video courtesy of Impact Engine, Effortless Energy, Chicago Clean Energy Alliance, and GCCA.

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GO BACK TO PART 1

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved

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June 7, 2013 · 4:00 am

THE SUM OF THE WHOLE

Moises GoldmanHigher Education and the Economy

Moises Goldman PhD – guest writer

In today’s digital environment, the words entrepreneurship and innovation are the flavor of the day. Universities and even certain high schools believe they are preparing their students to go out into the world armed with the necessary tools to excel. But are they?

Parts - Royalty Free 5

Consider the following points:

  • The “whole” is equal to the sum of its parts.
  • The sum of its parts is equal to the “whole”
  • The sum of its wholes makes a bigger-and-better “whole.”

This article will focus on the third idea.

.Parts - Royalty Free 2

The Part

Graduate engineers can usually code in various languages—Python, Flash, Java, CSharp, Ruby on Rails. Perhaps they are able to create “apps.” They are specialists. With diligence and luck, they go to work in enterprise and fill specific roles.

In those roles, they create what might be call “parts.” A project manager pulls together all the parts into a “whole.” As typically happens, several of the parts do not fit. The process provides for other specialists that fill the gaps.

Parts--Royalty free 3

I am describing a typical mode of work. Specialists in cubicles re-design parts designed by specialists in other cubicles until the organization achieves a satisfactory whole. This is an iterative process, but not a creative one. Industry blunders forward. By any economic measure, it is grossly inefficient. Where, one may ask, is the root of the problem?

Moises Goldman PhD

Moises Goldman PhD

What is Optimal?

We need only ask a few questions:

  • Do the individual engineers on any given project understand what impact, Parts - Royalty Free 4implication or influence their developments have on the overall wellness, intent or strategy of the enterprise they serve?
  • Do they take into account current policy, regulatory, ethical, or socioeconomic factors?
  • Do they are work together—focusing on the whole and not their “part alone?

If the answer to any of these is no, then without a doubt their efforts cannot be optimal.

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The Whole

Parts - Royalty Free 1Universities turn out engineers that are themselves essentially parts. I would argue that they should train-up collaborators adept at comprehending the larger view and better understanding their “part” in the “whole”—in other words, people who are themselves whole.

When each specialist embraces the larger picture, each specialty complements the others. The sum of each whole person makes a bigger-and-better whole project. The sum of the wholes is a bigger-and-better whole.

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GO TO PART 2

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Contacts

This article was adapted from a paper for the Institute for Work and the Economy by Moises Goldman PhD.  www.workandeconomy.org

Moises Goldman—Moises6@comcast.net

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved

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June 2, 2013 · 4:00 am

HOPE AND PARANOIA IN THE NEW DIGITAL AGE

OreosJeff Segal – guest writer – Part 2

“Sure I’m paranoid, but am I paranoid enough?” – David Foster Wallace, Infinite Jest

“If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.” – Google CEO Eric Schmidt, 2009.

Last week I described my first impressions from the May 16 Q & A with Google’s Eric Chicago Council on Global Affairs LogoSchmidt and Jared Cohen, hosted by the Chicago Council on Global Affairs. They had some fascinating things to say about how access to technology is changing societies from the

Eric Schmidt - Google

Eric Schmidt – Google

ground up, and their very presence conveyed an implicit message to every bootstrapping startup founder: .

If you have a brilliant idea, and you build it right, you can be a powerful force for improving life on Planet Earth. .

From combatting terrorism to enabling Congolese fisherwomen, Schmidt and Cohen gave one example after another of how the democratization of mobile technology offers hope for a better future. They also sounded cautionary notes about espionage, cyber warfare and data permanence. What they didn’t say—at least, not this simplistically—is that a lot of the good stuff and

Jared Cohen - Google

Jared Cohen – Google

the bad stuff are two sides of the same microchip. So I would add the following to the above message:

But you’ll have to negotiate the razor’s edge between hope and paranoia.

Full disclosure: I have not read Schmidt and Cohen’s book, The New Digital Age: Reshaping the Future of People, Nations, and Business. 

See it on Amazon

No doubt they address many of my concerns in the book, with greater nuance and detail than I possibly could. The following is based on my notes and those of John Jonelis, the troublemaker who invited me to the event in the first place. .

Can Internet Access Defeat Terrorism?

One example of the hope/paranoia conundrum: Cohen suggested that greater mobile access will make recruiting terrorists more difficult. “The old model was, you trained your young men to be terrorists with no opportunity for doubt,” he said. With greater access, he implied, prospective terrorists can make more informed decisions about joining up because “radicalization is out in the open.”

Now, call me paranoid, but—really? Terrorism - CNN

I’d love to believe that in a free market of ideas, people soberly consider all points of view before forming opinions and acting on them. I’d also love to believe I could lose weight on a diet of Double-Stuf Oreos. Fact is, Americans with unlimited web access don’t soberly consider multiple points of view—they consume as much as they can from outlets that reinforce what they already believe. Why would prospective terrorists be any different?

I fear unfettered web access actually poses the same threat to free societies as it does to Oreosdictatorships—it can motivate and mobilize our enemies. Is the Internet more potent as a terrorist recruiting tool, or as a source of levelheaded persuasion that counters recruiting? .

Or let’s put it this way: If you could permanently shut down Al Qaeda’s web access, wouldn’t you? .

Is Google Worse Than the CIA?

Schmidt would prefer to intercept all their messages instead. In my previous article I quoted him as saying, “If people plan things on line, others will figure it out in advance. We will capture terrorists earlier.”

Fantastic! But let’s face it— “figuring it out in advance” means listening in on millions of messages a day. Sorta like China. CIA

You don’t have to be paranoid to acknowledge that pure Internet privacy is a fantasy. Anyone who uses the Web knows (or should know) that. Hence Schmidt’s 2009 quote leading off this article. He wasn’t trying to be moralistic, or to justify anyone sharing your secure information. His point was, if it’s on the web, it’s out there. Every page you view and every message you send are on a server somewhere.

And you know what? I’m okay with that. What’s more, it doesn’t much matter to me if it’s the CIA reading my email or Google selling my browsing tendencies—I know they do it, and I accept the trade-offs. The CIA prevents terrorist attacks. Google gives me all kinds of useful tools and platforms for free.

But not everyone’s like me. Four different questions from audience members concerned privacy. Schmidt assured one questioner, “Google was founded on a set of principles, and the company culture is not likely to change.”

I’m sure the audience member would be far more reassured if the principles Schmidt invoked—the famous Ten Things We Know to be True—actually mentioned privacy. Even once.

But they don’t.

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Are We Paranoid Enough?

I’m no legal scholar, but I’m pretty sure somewhere in the U.S. Constitution there’s a guarantee of our freedom to be paranoid.

For a great example, look no further than the recent failed legislation to expand background checks on gun purchases. Opponents warned that the new law would lead to a national gun registry (and thence, they implied, to inevitable door-to-door gun seizures and complete Communist takeover), even though the bill explicitly criminalized doing so.

Guns

But how’s this for paranoid: Couldn’t Google, through extensive Big Data-mining and actuarial analysis of blog posts, page views and (supposedly secure) transaction records, create a pretty fair approximation of a national gun registry?

Oh, but they would never do that! It would violate their principles! But what if the government paid them? Or threatened them into it? What if there’s actually a vast conspiracy between the government and Google to create not just a gun registry but a complete national database of what every single American buys, reads and thinks?

No, of course I don’t believe that. But I’ll bet you someone, somewhere does. And that’s the downside of growing your grad school project into a $300 billion behemoth with the power to literally shape the future. Every utopian dream you pursue provokes someone else’s totalitarian nightmare.

And even paranoids have real enemies.   Ω .

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Go back to Part 1

Contacts

Jeff Segal writes and creates content for entrepreneurs at messagetherapist.net

Chicago Council on Global Affairs www.thechicagocouncil.org

Chicago Council on Global Affairs Logo

Image Credits—scientificamerican.com, weddingbee.com, blogs.villagevoice.com, CNN

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved . .

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May 27, 2013 · 4:25 pm

MIT WHITEBOARD CHALLENGE

Mark T Wayne BOTTOMJohn Jonelis

From special correspondent – Mark T Wayne

Five minutes, a marker, and a whiteboard. That’s all you get with this jaded crowd of critics, skeptics and swarming humanity.

You’ve come here to bare the greatest idea of your life and all the dreams that go with it. You competed for a chance at this grueling event against near a hundred early-stage teams. You’re one of only ten to make the finals.

Now they give the signal and you start like a runner off the blocks. And when your five minutes are up, it’s “NEXT!” No excuse will answer, sir! You are not permitted to utter another word so you sit down to bite your nails.

I can barely credit how fast ten contenders go by without a break in the action. .

Whiteboard Competitor

The Competition

This is the main event for the MIT Enterprise Forum, Chicago. No tricked out slide show or video allowed here. You must draw while you talk. The whiteboard is blank and indeed frightening to behold.

You swallow your fear and draw stick figures, perhaps, with a fat electronic pen. AnotherMITEF logo device projects your illegible scrawl onto a big video monitor so the WHOLE crowd can watch you make a fool of yourself. And use it you must—oh yes, you can’t ignore the whiteboard. It’s the only tool you get to express your idea, besides flapping your jaw.

I see you fidget and turn pale like some of the other folk as you try to explain your complex technology to a disgruntled audience of frowning faces while under the gun of the timer. Was that a nervous tick I just saw? Control yourself, sir!

Mark T WayneThis ain’t the typical pitch contest. You competed with scores of other teams on the value and marketability of your idea. That means all ten of you show up here tonight with something worthwhile. Now you get judged again on merit, but also on communication and use of the whiteboard.

Why do you do it? It’s not the $3,000 first prize—that only amounts to party money. No, the real goal is exposure. A chance to round up some angel capital from those sitting among this distinguished crowd and maybe push your idea to the next level. That and the simple satisfaction of coming out on top.

MITEF Chicago has been putting on this competition for some time. I consider it a premier event. To give you the flavor of it, here is a wonderful short video created in a previous season:

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This Year’s Winners

SIRAGO— Deniz Alpay—First Place

MIT White Board ChallengeUnfortunate patients are going straight from Stage 1 to Stage 4 cancer right in the hospital as a direct result of an innocuous and ubiquitous procedure called the biopsy. The problem is rampant in some cancers.

Gentlemen take note: If the oncologist suspects testicular cancer, no biopsy will be done. No sir! The surgeon removes the offending testicles forthwith! This is execrable sir! I wince to hear such words!

Breast cancer is yet another prevalent victim to this culprit. But whatever the cancer, it happens in three ways:

  • When removing the biopsy needle, infected tissue gets dragged away from the site.
  • Sometimes infection spreads through the hole left by the needle.
  • At other times, the infection enters the bloodstream directly because of the needle wound.

Ugh! Horrible stuff! Ought not to be allowed! Could it be that a patient stands a chance of living longer without any test whatsoever?

Mark T Wayne

Pay close attention because the numbers do not favor you. 12.5 million Americans have cancer right now—and that’s expected to rise dramatically. During the span of a lifetime we are talking about one in every two men—one in every three women. I look around the room and wonder—does any man here still have the stones to remedy this injustice?

The young lady draws a clear picture on the whiteboard and presents a solution. It is a hollow needle. An agent is pumped into the needle to plug the opening. Then the biopsy needle follows. When the biopsy is extracted, any unwanted tissue cannot pass the plug.

Mark T WayneI let out a lungful of air. Whew! Such a simple solution. And having seen it described so well, there is no doubt in my mind that it will turn the trick. Something so easily incorporated into existing procedures will likely be widely adopted. In fact, hospitals already exhibit interest.

This young lady is articulate with an excellent command of the white board. I believe she well deserves her First Place finish. I vote for this one myself.

Later while writing my notes, it occurs to me to research the name Sirago. I find some USS Siragointeresting imagery here and wonder if it is intentional. Sirago is the namesake of a 1946 WWII American attack submarine that destroyed two German submarines. This is a boat that survived two major surgeries. It was modernized in 1949 and again in 1962, after which it continued operations until 1972—a good long life for a weapon of war. I see it lancing through the waves in triumph.  I let you draw your own mental image.

Sirago Check 2

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COUP $ITY— David Hazan—Second Place - (It’s pronounce it “koop city.”)

This is a free mobile game concept where players generate coupons that increase in value based on game play. You must play the game to earn the reward. That is significant!

I am known to play a game of Whist or Poker. I imagine myself, ordinarily reluctant to Mark T Waynefool with coupons, now proudly presenting my prized ticket to the cashier with a flourish and a knowing smile. The coupon displays right on my smartphone and I keep that contraption in the pocket of my white vest.

There can be no doubt that a market exists. The Mobile App industry has grown from zero in 2007 to 25 billion today and game-based advertising is popular.

David came with his own enthusiastic cheering section, which never hurts.

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TRIBAL SCIENCE—Mike Vasquez—Third Place

Dr Mike VasquezThis PhD is an engineer as well as a sports nut. He calls the device a Rip Chip. It answers questions such as: “How fast? How high? How many revolutions?”

Let’s say, just for the sake of argument, that you’re one of that peculiar brand of Tribal Sciencelunatic that lifts weights, hurdles down icy ski slopes, or performs tricks on a snowboard or skateboard. Now you can read precise statistics fed right to your smartphone. Why would you want to do that? It turns out there are a number of rational reasons:

  • You can improve your performance.
  • You can quantify what you did and compare it to other lunatics.
  • You can hold yourself accountable to another person—preferably your psychiatrist or surgeon.
  • You can directly compete with like-minded individuals in far-away places who also have Rip Chips installed on their devices of doom.

I have to admit, this may change the way athletes compete, play, share, and train. We are looking here at 50 million potential users. .

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EATERIA— Ola Ayeni—The Mark T Wayne Business Award

EateriaAll but one of the ten offerings have yet to go beyond the IDEA stage and form a REAL business. Therefore it is my duty to offer my own award. I hearby select Eateria, a company that helps restaurants induce people to come back and eat more food at their particular establishment. And they do it without weapons! Look at this ultra-professional video:

You will find six more videos posted on the Eateria website. They leave no doubt how Eateria Logothis offering works.

And they’re already generating press.

.

Notes & Links

Judges – This is an intimidating bunch if I ever saw one:

Jed AbernethyJed Abernethy

Big Idea Forum

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David BrownDavid Brown

Ungeretti & Harris LLP

..

Moises GoldmanMoises Goldman PhD

M&J Acquisitions Moises6@comcast.net

.

Steve SmithSteve Smith

Global Strategy Implementation

(He flew in from Amsterdam for the event.)

The Nameless RabbleThe Nameless Rabble

Yes, the audience votes too.

.

Nancy MunroMODERATOR – Nancy Munro of KnowledgeShift pulls off this event with her usual aplomb. She’s the Chapter President of the MIT Enterprise Forum, Chicago. And it ain’t at all boring for this old man to watch her erase the whiteboard ten times, either.

LOCATION - This is taking place at a hotbed of innovation, TechNexus, the home of the Illionois Technology Forum. The law firm of Ungaretti & Harris is also a sponsor.  Quartet IdeaShare makes the slick infrared and ultrasound whiteboard display tool that’s helping with all this suffering tonight.

MIT Enterprise Forum

THE TOP TEN COMBATANTS in alphabetical order:

The USS Sirago (SS-485) attack submarine from Wikipedia.

Photography Courtesy of: MITEF Chicago, Steve Smith, Moises Goldman, David Brown, Jed Abernethy, Nancy Munro, Mike Vasquez, Eateria, Wikipedia. .

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money. .Copyright © 2013 John Jonelis – All Rights Reserved . .

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May 23, 2013 · 4:00 am

GOOGLE’S AMAZING ASCENT

Google LogoFrom Startup to the New Digital Age

Jeff Segal – guest writer

Once upon a time, not all that long ago, Google was a startup.

No one who attended The New Digital Age, hosted by the Chicago Council on Global Affairs last Thursday at the Swissotel, asked Google’s Eric Schmidt and Jared Cohen about the juggernaut’s humble, scrappy beginnings. They were there to hear about technology’s power to thwart terrorism and bring dictators to their knees. Continue reading →

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