Each presenter had five minutes to describe their product, business plan, and to request funds, and another five minutes for judges—Marshall McCormick, the president of Finger Lakes Wealth Management; Illa Burbank, the president of Incodema; and Ian Gaffney, the founder of Emmy’s Organics—to ask questions. The winning groups split $14,000 to further their business goals.
Taking home the biggest prize of the night was Knottie Fishing Co., which was award $5,000 and the Judges Prize. Nick Hansen ’18 and Nick Vogel ’18 pitched “The Knottie Lock,” which snaps onto the bottom of a fishing line and holds it in place, eliminating the need for complicated fishing knots to hold lures and hooks, and should benefit many individuals.
“Tying fishing knots is hard,” Vogel said. “Especially for beginners, young children, and fishermen with arthritis.”
He and Hansen went on to say they’re planning to use their winnings to purchase plastic injection molds, which will allow them to make as many as 24 locks a minute for less than 15 cents in production costs.
“We’re very honored [to win], and we want to get the product on the market as soon as possible,” Hansen said.