Driving Innovation and Growth
May 6, 2013
Brinks Innovation Competition Finalist SiNode Wins 2013 Rice Business Plan Competition
Chicago-Area Company SiNode Awarded $811,00 in Prizes
CHICAGO – Global Midwest Alliance today announced that the 2012 Brinks Innovation Competition finalist SiNode Systems has been awarded the Grand Prize at the 2013 Rice Business Plan Competition. SiNode, a finalist at the 2012 Clean Energy Challenge, was awarded $811,000 in prizes on April 13 in Houston. SiNode Systems holds the license for new technology for lithium-ion batteries that allows batteries to charge faster and hold a charge ten times longer than current technology, which could significantly extend battery life for products like smartphones and electric vehicles.
"We would like to congratulate Brinks Innovation Competition finalist SiNode Systems on its recent, big wins," said Gail Longmore, CEO of Global Midwest Alliance. "These competitions are designed to help inventors and entrepreneurs focus on creating a viable plan to bring inventions to market. Competitions that recognize companies like SiNode Systems also help recognize the talent and innovation available in the Midwest, as well as promote it as a destination for doing global business."
SiNode Systems, a cleantech startup from Northwestern University, competed against 42 teams and presented its business plan to 300 judges to take the $350,000 grand prize awarded by the Goose Society of Texas. SiNode received another $100,000 from OWL Investors, plus several other competition prizes.
Entries are currently being accepted for the 5th Annual Innovation Competition sponsored by Global Midwest Alliance and the Midwest Research University Network (MRUN). Innovation Competition finalists will be showcased during the Clean Technology Innovation Growth and Globalization program on September 10, 2013, which will focus on the Midwest's excellence in technology, clean technology innovation, products and services. The competition was created to help emerging and venture ready clean tech companies gain visibility and make connections. It also provide a showcase for developers of new technologies that offer competitive returns for investors and customers while providing solutions to global challenges. For more information or to enter, visit the Innovation Competition. Global Midwest Alliance is the only business-led economic development group for the Midwest region. The Alliance facilitates collaboration among key stakeholders to provide access to global business opportunities to the Midwest and realize economic value from existing world-class assets in the Midwest. The Alliance focuses on programs and platforms that help high growth companies develop and expand markets for businesses based in the Midwest, encourage and assist international business activities in the region, and integrate business, financial and scientific resources for successful commercialization of technology in the Midwest. For more information, visit www.globalmidwestalliance.org.