Snowboard manufacturer Ben Franklin ‘Venture Idol’
Gilson Boards, Winfield, Union County, won “Ben Franklin Venture Idol,” hosted by the Ben Franklin Technology Partners of Northeastern Pennsylvania and held Nov. 12 at the Innovation Institute in Ben Franklin TechVentures technology incubator-post-incubator on Lehigh University’s Mountaintop Campus.
Approximately 250 guests attended the sold-out “Venture Idol,” which included pre- and post-event executive networking receptions.
Eight entrepreneurs were selected as competitors in addition to Gilson Boards, including CDC Software, LLC, Bloomsburg; ChannelApe, Jessup, Lackawanna County; MindMe, Inc., Bethlehem; Orbweaver, Bethlehem; Precision POS, LLC, Jessup; US Specialty Formulations, LLC, Bethlehem; and viihealth, Inc., Bethlehem.
Three of the eight start-up technology companies, CDC Software, LLC; Gilson Boards and Orbweaver, were finalists.
Following a networking session beginning at 5:30 p.m. the evening event began with a keynote address by Kathryn C. Worrilow, Ph.D., Founder and Chief Executive Officer of Ben Franklin client, LifeAire Systems, LLC, Allentown.
The three company finalists then pitched their ventures to investors and the audience.
After short critiques from the panel of investors, the audience members “funded” the companies, crowdfunding style. With $100 of “Ben Bucks,” each guest distributed his or her “investment dollars” in whole or part among the three finalists.
Ben Franklin will award $15,000 in real dollars to the companies based on the audience vote.
Gilson Boards is a snowboard manufacturer that designs bases in three dimensions for an enhanced and unique “feel” on the mountain. Applying aeronautical engineering concepts, Gilson snowboards have a three-dimensional base that is faster, stronger, and more flexible than traditional products, storing more energy for the “pop” that is sought by snowboarders.
The company merges the woodworking heritage of rural Pennsylvania with the precision of modern technology. Gilson snowboards take advantage of the concept that in motion, snow behaves much like water and air, and, like airplanes and boats, the boards are curved to deliver a better ride.
Outside Magazine ranked Gilson Boards among the “Top 6 U.S. Ski and Snowboard Manufacturers,” and Wired magazine lists Gilson Boards in “2015 Gear of the Year.”
The evening’s investor panelists were: Clark DeHaven, Soundboard Angel Fund and Inflection Point Strategic Advisors; Mike Gausling, Originate Ventures; Bruce Luehrs, Rittenhouse Ventures, and Stephanie Olexa, Lehigh Valley Angel Investors and Lead to the Future.
Chad Paul, Ben Franklin Technology Partners President and CEO, was host. Fred Beste, CEO of the General Partners, Mid-Atlantic Venture Funds and Ben Franklin Technology Partners Board Chairman, was emcee.