SAIT Helps LAUNCH Entrepreneurs

July 6, 2011, Calgary, Alberta – Michael Hwang and Ryan Hermanson are about to see their entrepreneurial dreams take flight thanks to the LAUNCH program, SAIT’s annual business plan competition.

Hwang and Hermanson are Information Technology – Network Systems students from the School of Information and Communication Technology, and their business proposal – ‘ADLotto’ – won first prize during this year’s competition. 

ADLotto is an online advertising platform that provides a digital alternative to standard doorstep flyers – reducing waste and junk mail. Users can view the ads through a dedicated website and can also access the website from smart phones or tablets. 

Through ADLotto, advertisers can target their ads demographically and geographically and only pay for ads that are read by consumers. Consumers viewing the ads earn credits towards cash and are also entered into a draw to earn larger prizes.

“There were many great proposals this year; ultimately ADLotto was selected as the winner because of the work Michael and Ryan had already put into their business model,” says Joe Petermann, Coordinator of Student Initiatives within the Applied Research and Innovation Services department.

“Michael had done a lot of the preparation, such as already having patented his business model, to ensure the future success of his business and it was this preparation that set ADLotto apart from its competitors.”

Petermann also credits the environmentally friendly or ‘green aspects’ associated with ADLotto as being another key reason Hwang and Hermanson’s project was selected as the winner.

“My experiences here at SAIT have been great,” says Hwang. “It has been three years since the inception of ADLotto, and I didn’t know where or how to progress this idea but since coming to SAIT I have received a lot of mentorship, instruction and consultation – SAIT gave me everything I needed.”

During the program, competitors attended seminars, developed business proposals and presented their ideas before a panel of judges much like the hit television series “Dragons Den”, all in hopes of winning the grand prize package worth more than $32,000.

The award recipients were announced at a gala celebration for LAUNCH competitors and industry partners. Hwang and Hermanson received $20,000 in cash courtesy of Alberta Innovates, a foundation that provides opportunity for innovators and researchers; one year of office space provided by SAIT; no cost legal services, advising and mentorship; as well as becoming automatically eligible to apply for up to $30,000 of loan financing from the Canadian Youth Business Foundation and the Business Development Bank of Canada.

“The LAUNCH gala was very beneficial to us,” says Hwang. “It provided invaluable networking opportunities with industry members and potential investors.”

More great ideas ready to launch

Though Hwang and Hermanson ultimately ended up winning the LAUNCH prize, they had steep competition from the other finalists, Efua Ihenyen, Shivam Aggarwal and the team of Mladen Rakic and Richard Wild:

• Ihenyen, a Chemical Engineering Technology student from the McPhail School of Energy and his partner Osaghae Irianan – a Mechanical Engineering graduate from the University of Manitoba - created Ebbsync Energy. Their business plan aims to provide renewable energy to off-grid communities that currently use diesel generators for their energy needs. Their business will install innovative hydro-kinetic turbines to provide a green energy alternative to these communities.
  
  
• Aggarwal, an Information Technology – Network Systems student from the School of Information and Communication Technology and his business Shivtek Inc. provide IT consulting services to small and medium sized businesses in the Calgary area. Shivtek, incorporated in 2010, is currently focusing on expanding its cloud offerings which would allow small and medium sized businesses to access a virtual platform for their computing needs.
  
  
• Rakic and Wild, Business Administration – Automotive Management students from the School of Business, partnered up to create Gear Drive, an application that combines mapping, direct assistance and social profile systems to allow existing sales associates in the automotive industry to better connect with consumers.

LAUNCH your great idea

SAIT’s LAUNCH business plan competition is managed by the Applied Research and Innovation Services department to help SAIT students and alumni build innovative companies in Calgary. LAUNCH is open to recent and upcoming SAIT graduates. The competition begins again in the fall. More information can be found at the LAUNCH website.

SAIT Polytechnic is one of Canada’s most exciting destinations for post-secondary education, offering more than 100 career programs that position people for success in technology, trades and business. A leader in innovation, SAIT also collaborates with industry on applied research and delivers corporate training worldwide. SAIT is a member of Polytechnics Canada and one of Alberta’s Top 50 Employers for 2011.

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