Suspense Is Over

Ok, so we didn't make it into the semi-finals of the $50K. Bummer! We thought we had a pretty good plan, but the judges didn't think so. The sad thing is, the whole team (all 6 of us) went to Tuesday's award presentation and sat through the entire 2-hour presentation only to find out that we didn't make the cut. We were quite dejected afterwards. Of the 160 submissions, 15 of them were selected out of the Entrepreneurship for Devleopment track. The other 26 that were selected were from the classic business venture track. Lessons learned? Plenty. Our financial viability wasn't rated very high by the judges. Should we have competed as a non-profit? Perhaps. It would've made it easier to justify a profit in Year 3 and 4 of operations. After all, we're doing this to save the world, people! Not to make a load of money.

Epilogue is.... There's none! We're moving foward with the business plan and hoping to get it in front of some of the VCs around here. Who knows? Someone may find our plan viable. Supposedly the first lesson you learn in entreprenership is to never give up even when others tell you you're out of your mind. I couldn't agree more...