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Forest-Devices---winner-2017

Forest Devices, Inc. wins the 2017 RICE Business Plan Competition

00Featured news, Latest news April, 17

FOR IMMEDIATE RELEASE

 

Forest Devices, Inc. wins the 2017 RICE Business Plan Competition

 

PITTSBURGH – (April 11, 2017) This past weekend, Forest Devices, Inc. competed in the annual RICE Business Plan Competition (RBPC) and won first place and over $600,000 in cash and prizes. The RBPC, the world’s richest and largest graduate-level student startup competition, is hosted and organized by the Rice Alliance for Technology and Entrepreneurship and the Jesse H. Jones Graduate School of Business.

Brad Burke, the Managing Director of the Rice Alliance, commented that this year’s competitors were the most diverse in the history of the competition and came from top universities around the globe. Teams competed against each other by delivering a one-minute elevator pitch followed by their respective fifteen-minute investment pitches, which spanned from Thursday evening to Saturday afternoon.
Forest Devices CEO, Matthew Kesinger, and Director of Operations, Carmelo R. Montalvo, both of whom are graduate students in Carnegie Mellon University’s Heinz College, took the stage in front of 400 spectators and judges, delivering the company’s presentation at the Jones Graduate School of Business on the campus of Rice University. After two days of non-stop pitching and networking, Forest emerged as the top startup in the competition, representing the best investment opportunity in the eyes of the nearly 300 judges in attendance. When asked about the experience at RBPC, Kesinger had the following to say: “The Rice Business Plan Competition was an amazing experience, and the investment from our new partners will help us achieve our next milestone.”

 

Forest Devices is a Pittsburgh-based medical device startup company that is developing AlphaStroke. Acting like an EKG for the brain, AlphaStroke will help pre-hospital providers determine if their patients are having a stroke. Stroke is the most debilitating disease in the world, and the mission of Forest Devices is to reduce that disability by getting stroke patients to the treatment they need faster.

 

Contact:

Carmelo R. Montalvo

Carmelo.Montalvo@forestdevices.com

URL: www.forestdevices.com

1936 Fifth Ave

Pittsburgh, PA 15219

Ph: 412.404.3769

 

The official prize and cash details of Forest Devices winnings are as listed below:

 

Grand Prize – 1st in Pitch Presentation Rounds

  • $300,000+ – Investment Prize from The GOOSE Society of Texas
  • $25,000 – Marketing services from The Padgett Group
  • $30,000 – Website development, hosting and search engine optimization services for one year provided by Astoundz
  • $30,000 – Treasury services provided by Bank of America
  • Business Plan software provided by Palo Alto Software.
  • Opportunity to ring the closing bell at the NASDAQ Stock Market in New York.

 

OWL Investment Prize – Provided by the OWL Investment Group

  • $200,000+ Investment Prize

 

Houston Angel Network Investment Prize – Provided by the Houston Angel Network (HAN)

  • $125,000 Investment Prize

 

TMCx Life Science Accelerator Prize – Provided by the TMCx Life Science Accelerator

  • $25,000 Investment Prize

 

Edward H. Molter Memorial Prize for Best Presentation – Provided by Miller, Egan, Molter, and Nelson, LLP.

  • $10,000 Cash Prize

 

OFW Law Prize – Provided by Law Firm of Olsson Frank Weeda Terman Matz PC

  • $10,000 In-kind Prize
McGinnis-500x500

Forest Devices Awarded Top Honors at CMU McGinnis Venture Competition

20Featured news, Latest news March, 16

Forest Devices, Inc. wins first place in the McGinnis Venture Competition, hosted by Tepper School of Business on the campus of Carnegie Mellon University (CMU).

Matt Kesinger (CEO) and Dan Willis (CTO) accepting the First Place Trophy at the McGinnis Venture Competition.

Startups need capital and appealing to venture capitalists is a good way for these companies to get these much needed resources. “The McGinnis Venture Competition brings together Carnegie Mellon’s best and brightest student entrepreneurs to compete for $60k in investments.” per the competition’s website. “All participants receive priceless interaction with venture capitalists and alumni entrepreneurs, an opportunity to raise capital and valuable feedback on their venture.”

Yesterday Matthew Kesinger—CEO of Forest Devices, Inc., pitched the company’s chief product, AlphaStroke to the McGinnis Venture Competition judges. After progressing from the initial stages of the competition—which started in January, finalists were given the opportunity to sell their companies to a team of judges representing a variety of industries, including healthcare, technology, and resource management.

Matt Kesinger, CEO of Forest Devices holding the 1st Place Trophy for the McGinnis Venture Competition.

Matt Kesinger (CEO) holding the 1st Place Trophy for the McGinnis Venture Competition.

“We are very happy and honored to have wont the McGinnis Venture Competition,” said Kesinger. “All the companies were very impressive, and it was exciting to pitch with them.”

The McGinnis Venture Competition is made possible by a generous endowment from Gerald E. McGinnis, successful entrepreneur and founder of Respironics, Inc. This year’s competition was sponsored by InnovationWorks and Founder.Org.

Gov. Wolf pays a visit to AlphaLabGear

00Featured news, Latest news February, 16
Forest Devices,. co-founders Steve and Dan are all ears as Gov. Tom Wolf discusses the importance of innovative technologies

Forest Devices,. co-founders Steve and Dan are all ears as Gov. Tom Wolf discusses the importance of innovative technologies

Last month, AlphaLabGear and a handful of its accelerator companies hosted Governor Tom Wolf during a recent visit to Pittsburgh. As part of his ‘Jobs that Pay’ tour, the governor listened to pitches from local startups whose products are making waves in the Pittsburgh tech & hardware space. Forest Devices pitched its ALPHASTROKE technology to an attentive Wolf.

Fielding questions surrounding Harrisburg’s recent budget standoff, Wolf also expressed frustration with what he feels is the cause for the state’s current budget situation. “I’m not sure what more needs to be done,” Wolf says referring to failed efforts on a budget agreement. “If they don’t want to have a budget, I don’t know what more I can do beyond what I’ve already done.” Entrepreneurship and technological innovation, the governor emphasized, have been integral to the revival of Pittsburgh’s economy – “Pittsburgh is coming back to life.”

Tom-Wolf-at-Alpha-Lab-500x500

Gov. Wolf pays a visit to AlphaLabGear.

10Featured news, Latest newsTags: , February, 16

Last month, AlphaLabGear and a handful of its accelerator companies hosted Governor Tom Wolf during a recent visit to Pittsburgh. As part of his ‘Jobs that Pay’ tour, the governor listened to pitches from local startups whose products are making waves in the Pittsburgh tech & hardware space. Forest Devices pitched its ALPHASTROKE technology to an attentive Wolf.

Fielding questions surrounding Harrisburg’s recent budget standoff, Wolf also expressed frustration with what he feels is the cause for the state’s current budget situation. “I’m not sure what more needs to be done,” Wolf says referring to failed efforts on a budget agreement. “If they don’t want to have a budget, I don’t know what more I can do beyond what I’ve already done.” Entrepreneurship and technological innovation, the governor emphasized, have been integral to the revival of Pittsburgh’s economy – “Pittsburgh is coming back to life.”