Christopher and Andrew Pagels, team iTest, recently won $5,000 and the grand prize at the U branch of Opportunity Quest, a statewide business plan executive summary competition. In second was Fetch with a bicycle delivery service, and in third was AdvanceCath with a urinary catheter concept designed to reduce urinary tract infections.
The Pagels’ product, iTest, functions through the headphone port found in most smartphones. Similar to the concept behind the “Square,” a mobile credit-card reader, the device interfaces with a smartphone application and gives highly accurate and fast blood-reading results back to the user.
The iTest is meant for preliminary screenings to minimize blood-born pathogen testing costs, a significant expense for Americans. The team plans to use their winnings to develop a new prototype.
“Opportunity Quest served as a catalyst for us in developing a clear and powerful value proposition,” Christopher Pagels said. “The support from our mentor was invaluable in helping us clarify our message and to understand the most important aspects of pitching the iTest.”
The second competition in the Utah Entrepreneur Series, Opportunity Quest addresses the executive summary stage in business development. Participants receive an educational forum to aid in developing a professional, competitive executive summary. Students are judged based upon the quality of their submission.
Competitions are exclusive to individual schools. University students can enter as individuals or as members of a team and are encouraged to investigate local opportunities. Cash prizes vary based upon collegiate institution.
Learn more at www.ues.utah.edu.