The motivation to create new products — and start companies that will make those products — come from a variety of places. Some entrepreneurs are interested in making processes more efficient. Some are looking for ways to save people money. Some are hoping they can save the world. Whatever the motivation, entrepreneurs inspire with their creative way of taking a problem and finding a solution.
In an effort to find the most innovative new companies, Startup Open,a competition that searches for startups with the greatest growth potential, chose 50 companiesto compete for the opportunity to present their business plans to experienced entrepreneurs, and gain insight from the experts.
The two winners were announced on Nov. 14as the kickoff event to "Global Entrepreneur Week."Kavita Shukla, founder of Fenugreen, a company that works to reduce food spoilage during transportation, will be heading to Liverpool, England, in March 2012 to participate in the Global Entrepreneurship Congress. Jason Ethier, founder of Dynamo Micropower, developed a proprietary ultra-micro turbine architecture; he will receive a year of mentoring from Redbox founding members and serial entrepreneurs Michael DeLazzer and Biju Kulathak.
Here is a sampling of the 50 competitors, representing a range of ideas from around the world. "These 50 companies represent the best and brightest of today's entrepreneurs — and they hold the key to spurring economic revival and sustained growth," said Carl Schramm, president and CEO of the Kauffman Foundation, which sponsors Global Entrepreneur Week. "We hope that recognizing these promising startups will inspire other aspiring entrepreneurs to take chances and start new ventures."
So, what are some promising new startups this year? Click ahead for a selection from Startup Open's list.
By Patricia Orsini
Posted 14 November 2011