AMARILLO -- Five local businesses received investment funding through the Amarillo EnterPrize Challenge last night at the 2014 Awards Ceremony held at the WT Enterprise Center.
The 2014 Amarillo EnterPrize Challenge process began in August of 2013:
61 local businesses applied to participate in the 2014 Amarillo EnterPrize Challenge
32 participated in group coaching workshops
17 qualified business plans were submitted for an opportunity for investment
7 finalists were selected to present their plans to the judges
5 local businesses were chosen to receive Amarillo EntePrize Challenge investments.
"Over the last 18 years, this program and the investment of over 4.1 million dollars in local companies have produced significant and sustainable growth for our economy. The Amarillo Economic Development Corporation plays an integral role in supporting this program through their funding efforts. The EnterPrize Challenge is the largest grant business plan competition in the world - hosted right here in Amarillo. The return on investment the EnterPrize Challenge offers our local community, shows how valuable collaboration within the entrepreneur ecosystem can be", says David Terry Executive Director of the Enterprise Center. "There are very few entrepreneurial investment programs that support a diversified economic growth strategy and involve the community at the level the Amarillo EnterPrize Challenge does."
The five local businesses selected to receive investment through the 2014 Amarillo EnterPrize Challenge are as follows:
Anchor Power Services $100,000
President: Ken Paul
Anchor Power Services provides construction, maintenance, and testing services in the power and wireless utility sectors. Anchor plans to construct and own sixteen communication towers. Once constructed, various wireless phone and data companies can lease space on the towers.
Femco Drain Solution $100,000
Co-founders: Philip Seidenberger & Aaron Sage & GM: Kyle Ottmers
Femco Drain Solutions, LP is the exclusive North American distributor of Femco Drain Technology's Femco drain plugs. Femco Drain Solutions is engaged in selling innovative drain plug to large fleet customers, and wholesaling the drain plugs to sub-dealers in its exclusive territory.
Innovative Fueling Solutions $100,000
Owner & President: Ted Billingsley
Innovative Fueling Solutions sells, installs, and services storage and delivery systems for Diesel Exhaust Fluid and motor fuel. DEF is a liquid used by diesel trucks to lower exhaust pollution requiring it's own storage tank and delivery system, provided by Innovative Fueling Solutions.
Nobox Creative $100,000
President: Kim May
Nobox Creative is a full service marketing firm that offers more than 20 years of experience in advertising and marketing, world-class graphic design, public relations, social media, retail, and non profit museum solutions and strategies.
Owner: Steve Hefner
Washerplate manufactures and markets a patent pending tool for oil and gas producers that improve the safety and handling of pipe being removed during well servicing operations.