Wednesday, February 13, 2008

10th Annual Berkeley Business Plan Competition


Last night we got word that we made it to the semi-final round at the 10th Annual Berkeley Business Plan Competition. I want to congratulate everyone that played a part in this effort! We're very excited!

I'm not sure about the details, but in past years, there have been 70 or so entrants and they expected more this year. There are 25 teams in the semi-final round and they include: Culinary Talent Management; Noca, Inc.; Fanatix; ActionPact; Steel & Canvas; Kebima; Implicit Interfaces; Stakkit; Carsala; MyCatalogSpace; LReady; Reportis, Inc.; Dataspora; Saas Accelerator; Tixonomy; World Hearing Organization, Inc.; IQ Engines; Glycometrix; IMMUTELL; Omniox, Inc.; Parco Homes; Virtual Mindset; SiMoney; Titan Medical; and us, Vyoo, Inc.

We have been assigned a mentor, Mark Garman, to work on the next step of the process. Fortunately for us, he is a well renowned finance professor from Berkeley. This should really help us solidify our financial model, which is always a difficult piece of a business plan.

We need to submit a formal business plan and present our business to a group of VC's in March. We'll be spending the next month preparing for that.