Venture Plan
mTrack Wins $25,000 Grand Prize at the 2020 Crummer Rollins Venture Plan Competition
mTrack, a background mileage GPS tracking app that accurately tracks and automates rep expense compliance and processes, wins the 2020 Crummer Rollins Venture Plan Competition.
The Crummer Graduate School of Business at Rollins College has announced mTrack, a comprehensive mobile expense cost automated management system, is the 2020 winner of its annual Venture Plan Competition, Central Florida’s largest and most comprehensive business plan and pitch competition for start-ups. mTrack will receive $25,000 in prize money and has the option of receiving an additional $30,000 minimum equity investment from venVelo, a Winter Park-based, early-stage venture capital firm and SeedFundersOrlando, a member-owned operating company that invests in pre-revenue Central Florida technology startups.
In total, the competition finalists vied for their share of a total prize package valued over $100,000.
Open to all regionally headquartered start-ups, the annual competition is Central Florida’s very own “Shark Tank”-like competition where teams battle for funding and mentorship in front of the region’s top entrepreneurs and venture capitalists. Selected from 39 submitted proposals, finalists along with mTrack included 2nd place Precision Periodic, a single pass extraction and separation mining filtration product; 3rd place Young Innovators Technologies, a technology enabled network of childcare, preschool programs and community leaders on a mission to prepare a new generation of innovators; and ClienTell, a platform seeking to build a nationwide community of contractors who can share, rate, and view reviews of customers.
Due to COVID-19 precautions, the 2020 Venture Plan Competition finals were held virtually. In addition to the judge’s deliberations, the Crummer community also voted on their favorite pitches. It was the first year Crummer also awarded the Crummer Community Choice Award. With over 200 votes, ClienTell won the Crummer Community Choice Award.
Watch: ClienTell receives the 2020 Crummer Community Choice Award:
“Congratulations to all the participants in the 2020 Venture Plan Competition,” said Crummer Dean Deborah Crown. “They are the embodiment of Crummer’s mission to develop and support innovative, global, and responsible leaders who positively impact their organizations and communities. We are proud to have been able to hold this competition virtually, and the outpouring support from the Crummer community for this competition has been nothing short of remarkable.”
Of the 30 companies that have been finalists for the competition since 2012, 25 are in business today. Together, previous Venture Plan Competition winners have generated over $53 million in revenue, raised over $36 million in investment capital and employ over 368 people. Past winners include AireHealth, FleetZoo, Details Flowers, Fattmerchant, EASE Applications, BioCurity, and flexEngage.
This year’s winner, mTrack, led by CEO Andy Farrell, is the only enterprise focused platform for tracking miles and providing audits and exception alerts dynamically based on ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) systems for CPG (Consumer Packaged Goods) companies.
mTrack has already been successfully implemented at Nestle in the U.S. and utilized by more than 1,500 employees.
“We are so very excited to have been selected as the winner of the Rollins Venture Plan Competition,” said co-founder Andy Farrell. “There were so many great concepts and outstanding presenters in the additional companies participating that Julie, Joe, and I feel honored to be included. I’d like to mention that the process, organization, and insight provided throughout the competition by Lisa Reineck, Pete McAlindon, the panels, and the additional Crummer Rollins staff has truly been so helpful and instrumental in both learning about company positioning to request funding, and planning to launch our venture into the market. Thank you to all of them for their help in a process that was not only very educational but also fun!”
View the interview with the mTrack team:
The Venture Plan Competition, hosted by Crummer’s Center for Advanced Entrepreneurship, was started in 2005 to give entrepreneurial-minded Central Floridians a platform to develop a viable business plan to take to the marketplace while receiving valuable feedback from an influential panel of judges. Today it brings together the most viable ventures in a seven-county area, along with the region’s top funders.
Sponsors of the competition include the Hayes Family Foundation, Bay4 Energy, James T. and Diana P. Barnes Foundation Inc., SunTrust Foundation, Arsenal, Eldora Partners, HashLynx, National Christian Foundation Orlando, RVR Consulting, Florentine Strategies, Fattmerchant, Legacy Fund, venVelo, Ferrell & Kelly, Seedfunders Orlando, Idea Fund Partners, and VentureScaleUp.
“It’s always great to see our community come together to support and celebrate our local entrepreneurs. Four promising startups pitched virtually this year in our annual Crummer Venture Pitch Competition, and all of them went home winners, with a prize package valued over $100,000. Congratulations to our four winners; mTrack, Precision Periodic, Young Innovators Technologies, and ClienTell. We also added a new award this year, the Crummer Community Choice Award, and this year with over 200 votes cast, ClienTell won this prestigious award,” said Dr. Pete McAlindon, Executive Director of the Center for Advanced Entrepreneurship at the Crummer Graduate School of Business.
Behind the Presentation: Young Innovators Technologies:
Behind the Presentation: ClienTell