Three of the top four prize winners in the 14th Annual Cozad New Venture Competition have based their operations in the EnterpriseWorks incubator: Rithmio, Lumenous, and Inscites Research.
Rithmio, the winner of the University funded track, is creating gesture recognition software for wearable devices. The software allows the user to train the device for any number of activities- like weight-lifting or running, distinguish between those activities as well as track and analyze the activities that have been performed.
Lumenous, the non-University funded winner, enables designers to inexpensively create immersive experiences to advertise, entertain and inform by leveraging a novel technology called “projection mapping,” which uses video projectors to transform the appearance of everyday objects.
Both Lumenous and Rithmio received $20,000 grand prizes.
Second place for non-University funded teams was Inscites Research, a platform that integrates into a researcher’s workflow and allows easy and secure collaboration and knowledge curation. The company received a $10,000 prize.
Nearly 120 student teams applied for this year’s competition through the Technology Entrepreneur Center at the University of Illinois. The 18 finalists competed in the Finals Event on Friday, April 25, for nearly $200,000 in funding and in-kind prizes such as legal counseling, branding packages and software licenses.
For more information, visit the Technology Entrepreneur Center.