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November 17, 2005
[LSU
NEWS]
Charles D'Agostino, executive director of the
Louisiana Business and Technology Center at the
E. J. Ourso College of Business, announced today
that the husband-and-wife team of Hurricane Chemical
is the 2005 winner of the 2nd annual "New
Venture Business Plan Competition."
The announcement was made today at the annual
Top 100 Private Companies Luncheon of the Baton
Rouge Business Report's Louisiana Business and
Technology Expo. The competition was sponsored
by the E. J. Ourso College and the Business Report.
Husband and wife, Jim and Nan Huff, make up Hurricane
Chemical. Together they have created a patented
process of applying a preservative agent to sugarcane
immediately after it is cut, rather than applying
the preservative at the sugar mill – the
method currently used. According to the Huffs,
the process of applying the chemical agent in
the field decreases the rate of spoilage by more
than 50 percent, therefore increasing sugar yield
for farmers. The product has been field tested
and product demand has already been generated
among numerous Louisiana mills.
The other two finalists in the competition were
D.I.R.T Solutions L.L.C and The Omega Group. D.I.R.T
Solutions, which stands for Digital Input Real
Time Solutions, is a geotechnology company that
plans to develop a state-of-the-art, soil boring
imaging and information system that will create
real-time, industry-standard digital soil boring
logs. The product will allow subsurface investigators
to more accurately analyze soil samples from an
off-site location. The Omega Group has developed
an aquaculture feed that increases the amount
of the nutritionally beneficial omega-3 polyunsaturated
fatty acids in farm-raised catfish. Farm-raised
catfish are notoriously low in omega-3 fatty acids.
Research shows that increased dietary intake of
omega-3 fatty acids lowers serum triglyceride
and cholesterol levels, and is recommended to
decrease the incidence of cardiovascular disease,
asthma, allergies, Alzheimer's disease and some
forms of cancer.
As the 2005 winner, Hurricane Chemical will receive
office space in the E. J. Ourso College's Louisiana
Business and Technology Center, furniture and
equipment, legal services, accounting services,
human resource services, marketing assistance,
advertising, business cards and letterhead and
a company logo. In addition, they will receive
a cash award from the Louisiana Business &
Technology Expo and its sponsors. The expected
benefits total $20,000. All of these prizes are
being covered by local businesses. Business sponsors
include Baton Rouge Business Report; SSA Consulting;
HR Solutions L.L.C.; Jones Walker law firm; Taylor,
Porter, Brooks & Phillips L.L.P; Lee Michaels
Jewelry; Object 9; and The Greater Baton Rouge
Chamber of Commerce.
In addition, the winner will be featured in the
Nov. 22 edition of the Business Report.
"The E. J. Ourso College of Business, through
its business incubator, the LBTC, continues to
assist innovative entrepreneurs in starting businesses
that will bring jobs to Louisiana," said
Robert Sumichrast, dean of the E. J. Ourso College.
"The level of interest in the 'New Venture
Business Plan Competition' remains high because
of the interests of the people of the state and
the type of services available through LBTC."
In May, the E. J. Ourso College and the Business
Report opened the contest up to aspiring entrepreneurs
at least 18 years of age who lived in the 10-parish
capital region. Participants in the competition
pre-registered their teams and submitted a 250-word
business concept by June 1. Sixty teams registered
to participate and launch the business plan competition.
Of these 60 teams, 31 teams submitted expanded
business plan summaries in phase I of the competition.
During phase II of the competition, eight teams
were invited to submit a complete business plan
by Aug. 17. All eight teams submitted plans. Judges
whittled down the teams from eight to the three
aforementioned finalists to participate in phase
III of the competition – oral presentations.
On Nov. 9, the three teams were allowed a strict
15-minute time period to present their business
venture concepts, immediately followed by a 10-minute
question-and-answer session by a panel of judges.
"As Jack Welch noted in the Wall Street
Journal recently, entreprenuers will lead the
charge in bringing our state back," said
Rolfe McCollister, publisher of the Business Report.
"That's what this effort is about - launching
entrepreneurs in Louisiana. We're proud to be
a part."
According to D'Agostino, the third annual "New
Venture Business Plan Competition" will begin
calling for entries in May of 2006. For more information
about the competition visit http://www.bus.lsu.edu/lbtc
or contact the LBTC at 225-578-7555.
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