Winners announced in the 19th Annual John Pappajohn Iowa Entrepreneurial Venture Competition
The 19th annual John Pappajohn Iowa Entrepreneurial Venture Competition concluded on Thursday, August 22. From more than 30 submissions, 10 teams advanced to the final presentation round, where the winners were announced at a luncheon at Iowa State University in Ames.
The ceremony began with remarks regarding the late John and Mary Pappajohn, recognizing their significant contributions to fostering entrepreneurship across Iowa. Their enduring legacy was honored by highlighting the impact of the five Pappajohn Centers and the ongoing success of the Pappajohn Iowa Entrepreneurial Venture Competition in strengthening Iowa’s entrepreneurial ecosystem.
Following the presentations, a panel of judges selected the top three winners:
Repaint Studios received first place and was awarded $40,000. Repaint Studios is a certified woman-owned business committed to reducing the environmental impact of the home improvement and painting industry by creating reusable and eco-friendly painting supplies. They have pioneered a greener approach with a reusable silicone paint tray liner and lid, known as the Repaint Tray, which replaces traditional plastic and single-use paint trays and liners.
Billie Asmus – Founder
Repaint Studios founder, Billie Asmus with $40,000 winning check.
Rise Energy came in second place and was awarded $25,000. Rise Energy is revolutionizing the biomass conversion industry with an innovative autothermal pyrolysis technology. Underutilized biomass is transformed in Rise Energy’s modular biorefineries into carbon-rich products for renewable fuels, chemicals, and carbon sequestration. Rise Energy’s vision is to deploy these biorefineries globally.
Ryan Smith – Co-Founder
Jordan Funkhouser – Co-Founder
Tannon Daugaard – Co-Founder
HUDU received third place and was awarded $15,000. HUDU is an AI-powered odd job marketplace. Using cutting edge technology and built around simplicity and convenience, HUDU is an evolutionary leap forward in how people get odd jobs done.
Derreck Stratton – Founder and CEO
First-place winner Billie Asmus shared her journey in the competition, stating, “This was my third year entering the Pappajohn Venture Competition, so I had a good idea of how to prepare and revise my application. Still, it is a rigorous process that spans several months, involving filling out numerous application questions, ensuring your projections are accurate, and demonstrating on paper why you deserve to be in that room pitching to the judges. It can be intimidating, but it also provides valuable experience and skills for pitching to future investors or potential retail partners… three years ago, I promised myself that I would keep entering this competition until I won. The first year, I didn’t make it past the first round. In the second year, I received an Honorable Mention. And this year, I brought home 1st place.”
An additional $15,000 was awarded to three companies that received honorable mentions. The award recipients include NeuroPred, Inc. (Michal Brzus – $10,000), Upvote, Inc. (Zack Krawiec – $5,000), and Upcycling+ (Xun Wu and Akalanka Tennakoon – $5,000).
Since 2006, the John Pappajohn Iowa Entrepreneurial Venture Competition, supported by the Iowa Economic Development Authority, has invested $1.3 million into participating businesses, celebrating entrepreneurship across Iowa. The event is a collaborative effort led by the Iowa John Pappajohn Entrepreneurial Centers at Iowa State University, Drake University, North Iowa Area Community College, the University of Iowa, and the University of Northern Iowa.
For more information about the competition, visit www.pappajohncompetition.com.
