A startup company that turns pig waste into liquid asphalt took first place and $25,000 Wednesday night in the Charlotte Venture Challenge finals at the NASCAR Hall of Fame.
The founders of BioAdhesive Alliance Inc., a spinout of N.C. A&T State
University in Greensboro, say they've found a way to make something useful out
of the 6 billion gallons of swine manure produced in the United States each
year.
The sold-out competition drew nearly 300 entrepreneurs, investors, students and
members of the public.
Wednesday night marked the finale of a time-intensive competition run by UNC
Charlotte that started in January with 95 applicants from across the Southeast.
Three rounds of business development and competitive pitching in front of judges
whittled the field to 19 finalists who presented to a panel of judges that
included investors and venture capitalists.
The judges made their decisions based on the pitch, the product and the
company's potential for success.
Mahour Parast, co-founder of BioAdhesive Alliance, says the company already has
farms lined up to test the product and interested investors from the U.S., China
and France.
"They've got a good chance of success," said Michelle Menard, a judge.
Three of the eight finalists were Charlotte-based. "Noire Naturals" specializes
in hair care products for African-American women. "WeRx," a online operation,
helps consumers find the lowest price for prescription drugs. And SET
(Sustainable Ethanol Technology) develops low-cost ethanol using plant-based
waste.
The "People's Choice" award went to ProVazo, a company that designed a catheter
to make blood sampling painless, convenient and more precise.
Menard said she was impressed by the diversity of companies, ages and industries
represented. "If anybody says the U.S. isn't innovative anymore, they should be
here."
