April 2017 | Dallas, TX RealFoundations was honored to participate in the 6th Annual New Venture Competition at Baylor University in Waco, TX, hosted by Baylor University’s John F. Baugh Center for Entrepreneurship in the Hankamer School of Business. On February 24th and 25th, twelve finalist teams met on campus and showcased their businesses to various industry professionals as well as Baylor professors, competing for both professional guidance, entrepreneurial coaching, and cash rewards to invest into their business models.
This year, RF’s Executive Managing Director and founder, David Stanford, along with Director Lauren Stokes – both Baylor alumni – were invited to participate in the competition, interact with the students and select a team to receive the first ever RealFoundations Award – a financial donation towards the winning team’s new venture. The RealFoundations Award recipient was selected based on criteria including environmental impact, business process as a service, and operating platform sophistication.
Acion, LLC, a startup from the University of Louisville, was the first-ever RealFoundations Award winner. “We believe that Acion is targeting a long overlooked operating problem with a unique solution that has the potential to lower both operating costs and loss claims in the residential housing space", says Mr. Stanford. "We were attracted to their singular focus and market opportunity."
RealFoundations sponsorship in the New Venture competition also includes the contribution of a significant number of in-kind professional service hours, focused on providing professional guidance to the recipient. Acion received this award as well. "We were very surprised and honored to receive the RealFoundations Award at the Baylor New Venture Competition”, states Chad Keinanen, CEO of Acion, LLC. “We are using the cash award for product development, but are even more excited for the opportunity to work with RealFoundations as we introduce our portfolio of products to residential and commercial properties."
RealFoundations will again participate as a competition sponsor in the upcoming 2018 and 2019 New Venture Competitions. Read more about the 2017 New Venture Competition and individual competitors here.
About Acion, LLC Acion, LLC protects residential and commercial properties from water damage due to clogged air-conditioning drain-lines through a patent-protected device that connects to, and automatically delivers an environmentally-friendly biocide treatment into, an air conditioner’s (HVAC) drain line to kill algae before it clogs the line. Follow Acion on Twitter.
About Baylor Business Baylor University’s Hankamer School of Business provides a rigorous academic experience, consisting of classroom and hands-on learning, guided by Christian commitment and a global perspective. Recognized nationally for several programs, including Entrepreneurship and Accounting, the school offers 24 undergraduate and 13 graduate areas of study, as well as Ph.D. programs in Information Systems, Entrepreneurship and Health Services Research. Follow Baylor Business on Twitter.
About RealFoundations RealFoundations is a professional services firm focused on helping companies that develop, own, operate, service, occupy or invest in real estate make smarter, more profitable decisions. From the building itself to the way it’s developed, operated and capitalized, no firm understands the inner workings of the entire real estate ecosystem as well as RealFoundations. Follow RealFoundations on Twitter.