NH Start Up Competition to Award $55,000 on June 20

On June 20th the Manchester Young Professionals Network (MYPN) will award $55,000 in cash and in-kind services to the winner of the MYPN NH Start Up Challenge business plan competition. The event is being held at the New Hampshire Institute of Politics at Saint Anselm College at 5:30 p.m. and is free and open to the public.

The event will feature an exclusive opportunity for the three remaining finalists, GroupTrip, Gear Freedom and Ustabailze to deliver a final elevator pitch to the audience and will provide a behind-the-scenes look at the NH Start Up Challenge, the state's largest business plan competition that has awarded more than $100,000 in prize money to Granite State entrepreneurs over the past four years. The winner will be announced for the first time in front of the attendees. Guests are encouraged to pre-register at www.mypn.org. 

The NH Start Up Challenge is New Hampshire's signature business plan competition, said E.J. Powers, past MYPN chair and Start Up Challenge co-chair. We were extremely impressed by the quality of business plans submittedso much so that we expanded the field of finalists to three incredibly innovative and driven companies.

The three finalists for the 2012 MYPN NH Start Up Challenge are:

GroupTrip A web-application that allows you and your friends to take the planning process out of your inbox and into a rich environment. GroupTrip was founded and developed by Bryan Marble of Manchester. Marble is an alumnus of Rochester Polytechnic Institute and the University of Massachusetts-Lowell and former senior developer at HubSpot, Inc. grouptrip.co.

Gear Freedom An outdoor sports equipment rental company designed for users looking to participate in outdoor adventures without the need of purchasing, storing and maintaining bulky sporting gear such as kayaks, bikes, or skis. GearFreedom offers a way for those participating in sports (through an online marketplace where local and regional gear rental shops are centralized) to research, reserve and rent gear. GearFreedom was founded by Mike Veilleux of Manchester. www.gearfreedom.com.

Ustabilize An application to reduce the growing cost of falls in all age groups, especially those of people 65+ by increasing Stability Awareness via iPhone/iPod Touch/iPad. The app would be used by health and fitness consumers and professionals. The intent is to create a network by which consumers and professional can interact with each other to improve the overall health care and fitness quotient in the U.S. and eventually progress this offering globally. Ustabilize was founded by Michael T. Muldoon a practicing physical therapist from Hampton, with more than 10 years experience in outpatient orthopedics. 

Nearly 30 entrepreneurs applied and seven semi-finalists were selected to make live pitchs and submit business plans to the Start Up Challenge committee. Of the seven, three finalists were selected to present to a panel of judges on May 30. Judges evaluated the business plans and presentations on a variety of categories including, market opportunity, distinctive competence, management capability, financial understanding, investment potential and pitch performance. Judges included Pat McDermott, PSNH; Gray Chynoweth, DYN; Matt Rightmire, Borealis Ventures; David Cassidy, Centrix Bank; Phil Ryan, Ryan Associates; and Preston Hunter, Eckman Construction and MYPN Chair.

One winner will walk away with a prize package that includes:

• Up to $25,000 in cash
• Ultimate South by Southwest (SXSW) Experience courtesy of DYN consisting of airfare to Austin, TX, three days and two nights' accommodations, two-day pass to SXSW Interactive and a VIP pass to the Dyn SXSW Music Meets Tech Party
• $20,000 in advertising from Business NH Magazine
• Seat in the abi Innovation Hub's Accelerator Program and one-year residence at the abi
• Accounting services from Howe Riley & Howe
• Legal services from McLane Law Firm

The 4th annual MYPN NH Start Up Challenge is a statewide business plan competition designed to encourage entrepreneurship and social innovation. The competition was created in 2008 by MYPN, NH's first and largest young professional networking organization with nearly 3,000 members.

Last year's winner was Nearby Registry, a provider of online gift registry service for independent retailers and service providers that is nearing launch. "MYPN's NH Start Up Challenge triggered me to transfer my long-time local gift registry idea into a tangible business plan that proves the benefit local registry sales will have for Nearby communities, said Allison Grappone, CEO of Nearby Registry. The Start Up Challenge prize has made Nearby Gift Registry a reality, sooner.

For more information and complete rules of the competition, visit www.mypn.org/nh-start-up-challenge.