CaraSolva won the annual University of Colorado Bard Center Business Plan Competition held at the Grand Hyatt Hotel.
CaraSolva's plan was to provide caregivers, dealing with long-term disabilities, cost effective and secure web-based systems they could use when inputting Medications Administration Records, mandated government medical forms. The Boulder-based company believes that as government records become increasingly computer-based, MedSupport will be a must-have for providers.
Six companies competed for the award, presenting their business plans. A for-profit solar light bulb maker, Nokero also did a presentation to inspire contestants. Nokero is trying to eradicate the use of dangerous, polluting kerosene in third world countries by eventually replacing them with solar light bulbs.
"[As an entrepreneur] it's really important to fail," Nokero's founder Steve Katsaros said. "...To push so hard that you're right on the edge, because if you don't fail it means you aren't pressing the envelope."
This is the ninth year the Bard Center has organized the Business Plan Competition and Catherine Kunst, the center's executive director, says it achieved its goal.
"We opened our business plan competition two years ago to any early stage Colorado company," Catherine Kunst, executive director for the Bard Center, said. "This year we got 83 applications. They ranged from medical marijuana to curing cancer."
9NEWS intern and Colorado State University student Kelley Bruce Robinson contributed this article.
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