The "Concept to Company" competition is an ongoing innovation contest held in the various regions across the state of Utah. The main objective of the contest is to encourage and provide funding and services to Utah's entrepreneurial innovators all with the intent of helping them turn their concepts into successful companies.
"Our Concept to Company Contests are unique," said Alan E. Hall, founder and Chairman of Grow Utah Ventures. "These are the only such events in the state where the winners receive both cash and valuable professional services that really make a difference into their success."
Workman Nydegger, one of the country's leading intellectual property law firms, brings to the overall contest a depth of expertise and experience in helping entrepreneurs not only protect their innovations but also in learning how to strategically align IP protection in order to maximize the value that IP can bring to their venture. This year also marks Workman Nydegger's 25th anniversary.
"We are excited to be a sponsor in the ‘Concept to Company' contests," said Rick Nydegger, Founder and Managing Director of Workman Nydegger. "Utah has some of the best and most innovative entrepreneurs in the world, and we feel privileged to be a part of a program like this that is designed to support and help those entrepreneurs."
Ballard Spahr Andrews & Ingersoll will be the exclusive Contest sponsor providing general legal assistance to the winners. "Successfully launching a growth business means solving a range of legal issues," said Chris Anderson, Partner at Ballard Spahr in their Salt Lake City office. "We will guide the entrepreneurs through the maze of legal issues to help them ensure a sound foundation for their future growth."
CFO Solutions is Utah's leading outsourced financial and accounting management firm. Assisting literally hundreds of early stage entrepreneurs, CFO Solutions will advise and assist winners to become investor ready and financially sound.
"Timely and accurate information along with good financial advice, council and expertise are vital to start-up businesses," said Kent L. Thomas, Founder and Managing Member of CFO Solutions. "We will not only help winners better manage their finances but will help them prepare for and become attractive to outside investors and funding sources as well."
"We are thrilled to have these exceptional partners join us as Contest sponsors," said T. Craig Bott, President and CEO of Grow Utah Ventures. "Their respective expertise and especially their willingness to offer their resources to Contest Winners is invaluable. To have such a team available to an entrepreneur at such an early stage provides winning entrepreneurs with a great advantage towards growing and succeeding- which is what Concept to Company is all about."
These sponsors join the Concept to Company host organizations, Grow Utah Ventures, Zions Bank and the Utah Science Technology and Research initiative (USTAR) . Over the past year, three highly successful Contests have been held throughout the state- Outdoor Recreation held in Ogden, General Technology held in St.George and Medical Devices held in Salt Lake City.
Six contests will be held over the coming year with the next one to be held in Vernal focusing on Energy Innovation. Other up-coming contests will center on Digital Media and Entertainment, and Outdoor Recreation, both to be held later this year.
For more information on the "Concept to Company" contests visit concepttocompany.org.
