Scuba Solutions wins contest
Late Friday, a fledgling business idea was given its wings.
Scuba Solutions was named the winner of the 2011 Southern Nevada Business Plan Competition at an event inside the Stan Fulton building on the University of Nevada, Las Vegas campus.
The new business is set to receive $78,950 in cash and prizes, including legal services from Greenberg Traurig and marketing help from CIM Marketing Partners. The Las Vegas Business Press is giving the winners $20,000 worth of advertising.
The contest was a joint venture between the UNLV's College of Business and the Las Vegas Business Press.
From Sept. 6 to Oct. 22, aspiring entrepreneurs were challenged to submit viable business plans that are both feasible and have high growth potential.
In all, 36 business plans were written, submitted and revised, all with the hope of becoming this year's chosen entrant. Through a series of eliminations, the business plan submissions were whittled down to 10, then five before Scuba Solutions won the gold.
The judges were Mark Brennan, founding partner of Brennan Capital Partners; Ian McNeil, a partner in Brennan Capital Partners; financial consultant David Chavez; entrepreneur and investor Bill Payne of Bill Payne & Associates; Frank Beck, principal of FRB Associates; and Michael Hiesiger, executive editor of the Las Vegas Business Press.
Mark Brennan and Ian McNeil, both principals for Brennan Capital Partners, said the winners ultimately were chosen based on whether or not they actually would open their business. All agreed Scuba Solutions would.
"It all came out in the presentation," Brennan said.
McNeil said because the concepts still are so early in their development, the judges had to be convinced that the winners would follow through and use the free services.
"Entrepreneurship is really serious," Brennan said. "This is not a game."
To those groups that didn't win, McNeil said it's important to remember that entrepreneurs get turned down all the time.
"You've got to get used to the abuse," he said.
Griffin Owings, Alex Strabala, Curtis Weinstein and Chris Powell are the minds behind Scuba Solutions, a group marketing a product to help scuba divers carry air tanks to and from the water.
Their prototype, the Tank Tote, is a handcart that features all-condition tires and is designed to match the dimensions of most scuba tanks. The device aims to keep the tanks, which weigh 40 pounds on average, from moving or falling off during transport, particularly over rough terrain or loose rocks.
The tote is priced at about $250.
"We're kind of shell-shocked," Powell said.
The group's plans from here forward include making an updated prototype of the tank tote and marketing to retailers.
"We're 100 percent honored," Owings said. "That's a huge deal."
Scuba Solutions' final competitors were: Frost & Dwyer Firearms and Accessories, NMD Technologies, Future Technology Engineering, and The Eco Book Trading Post. All of the finalists received $250 checks for participating.
Andrew Hardin, director of UNLV's Center for Entrepreneurship, said the competition benefits the community because it connects veteran investors with entrepreneurs they might otherwise never meet.
Contact reporter Laura Emerson at
lemerson@lvbusinesspress.com or 380-4588.
