Three entrepreneurial women now have seed money to help with the launch of innovative new products courtesy of the U.S. Small Business Administration (SBA) and Microsoft.
The trio of winners in the 2015 InnovateHER Business Challenge were announced in Washington, D.C., recently during National Small Business Week observances.
The challenge was created to help bring products and services that could have a positive impact on women and families into the spotlight.
With $30,000 in prize money funded by Microsoft, the competition kicked off in March with nearly 75 regional competitions staged across the country by SBA partners, universities, accelerators, clusters and other local organizations.
Proposals submitted by regional winners were elevated to a semi-finals round where they were reviewed by an executive committee of SBA officials.
A total of 15 finalists were selected for the final round of competition. Those finalists traveled to Washington, D.C., to live-pitch their product or service ideas before a panel of expert judges.
Contestants in all rounds had to be at least 18 years old, U.S. citizens or permanent residents. In addition to impacting the lives of women or families, the pitches also had to be deemed marketable and seen as something that would fill a marketplace need.
The Top 3
When all 15 finalists’ pitches were made, the judging panel selected three winners:
- First place – The $15,000 grand prize was awarded to Bethany Edwards of Philadelphia, Pa. Edwards’ “Pregnancy Test” was designed by LIA Diagnostics. This upgrade on currently available pregnancy tests is flushable, ergonomic and delivers very easy-to-understand results.
- Second place – The $10,000 second-place prize went to Lisa Crites of Cocoa Beach, Fla. Crites designed a product called The Shower Shirt. It is a post-surgical, water-resistant shirt meant to help women prevent complications following mastectomies by protecting drain sites from water exposure during showers.
- Third place – A $5,000 prize also went to Sophia Berman of Pittsburg, Pa. Berman’s Trusst Lingerie provides greater comfort and support for larger-busted women who wear a cup size of DDD+. Berman’s design delivers support under the bust rather than through the shoulder straps.
Selecting the winners wasn’t easy, Maria Contreras-Sweet, SBA’s administer, said.
“We received so many thoughtful business ideas it was difficult to select the top three winners,” Contreras-Sweet said in a media release. “This is how dreams are made for entrepreneurs across the country, with their insightful, practical solutions that will impact the economic strength of our nation. We proudly honor these competition winners and all who entered in nearly 75 regional competitions across the country.”
