Polsinelli invites emerging and venture-ready clean tech companies to participate in the Polsinelli Innovation Competition.
The competition showcase and awards, now in its sixth year, is being held on October 23, 2014, during the Clean Technology Innovation, Growth and Globalization program, which will focus on the Midwest's excellence in innovative technologies, products and services. Entries are due by July 25.
The downloadable entry form is available online here
, or by visiting the website of the Global Midwest Alliance at www.globalmidwestalliance.org
The Polsinelli Innovation Competition was created by the Global Midwest Alliance and the Midwest Research University Network to help emerging and venture ready technology companies gain visibility and make connections. The competition also provides a showcase for developers of new technologies that offer competitive returns for investors and customers while providing solutions to global challenges. The winner receives $10,000 of in-kind legal services from Polsinelli, as well as a host of other benefits noted in the competition rules and policies.
Last year’s winner was Global Green Products, provider of a chemical additive with substantial environmentally beneficial effects for applications in global water treatment, oil and natural gas extraction, and oil spill containment. Global Green used their $10,000 credit to engage Polsinelli to assist them in a multi-million dollar Series A round venture investment. Since being engaged, Polsinelli has been helping Global Green Products with various corporate legal matters to prepare them for this venture investment, including converting their structure from an LLC to a corporation and refining their corporate documentation relating to their initial business capitalization and ownership.
“Winning the innovation competition opened doors for us,” says Global Green Products founder Larry Koskan. “And being able to turn to Polsinelli’s attorneys for guidance when we had interest from Greenpoint Global Mittelstand Fund, helped consummate that financing and move our business to the next level.”
The Polsinelli Innovation Competition, judged by a panel of esteemed experts from a variety of industry sectors, holds significant weight in the venture community.
“As investors, we had a certain level of confidence in Global Green Products right off the bat,” says Teresa Esser, Managing Director, Greenpoint Global Mittelstand Fund. “They’d been through a rigorous judging process in the competition. When we learned they had engaged Polsinelli to do their legal work, we had confidence that Global Green was committed to the investment process and that this deal would get done in the proper way.”
This year’s top five entrants will have an opportunity to present their technology during the October 23 showcase program to an audience of early stage investors, entrepreneurs, technology-focused venture capitalists and financiers, and corporate R&D and business development executives.
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About Midwest Research University Network
The Midwest Research University Network (MRUN) is a commercialization collaborative focused on fostering the formation and growth of high tech start-ups in the Midwest. MRUN members include individuals engaged in venture formation at universities and research institutions, investors, entrepreneurs and those who help them. The MRUN community helps members make connections informally to solve common problems in start-up business development including, angel and seed-stage financing, placement of management talent and opportunities for collaboration. For more information: http://www.mrun.us.
About Global Midwest Alliance
Global Midwest Alliance is a region-wide, not-for-profit education organization dedicated to transforming the Midwest into an internationally recognized leader in innovation and business growth. The Alliance aligns and integrates resources throughout the Midwest helping businesses to grow by leveraging existing resources to develop new products and find customers throughout the world. Through these and other affiliations, the Alliance facilitates access to global business opportunities for Midwest business. The Alliance offers educational opportunities through a variety of programs and resources designed to promote innovation, technology development and access to global opportunities in the clean technology, energy, food, logistics, manufacturing and water industries. For more information, visit www.globalmidwestalliance.org