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Cake Energy, DesiYou take home top honors at Irvine Entrepreneur Forum
The two firms each garnered $10,000 for their respective business plans.
By Kristen SchottPublished: June 02, 2010 10:57 AM
Cake Energy LLC and DesiYou each took home a $10,000 prize for their respective business plans during the Irvine Entrepreneur Forum, held Tuesday at UC Irvine.
More than 175 business and community leaders descended upon the forum, which marked the first collaborative effort among the Irvine Chamber of Commerce, city of Irvine and the university. The event, which was made possible by the O.C. Workforce Investment Board, was established to showcase Irvine as a center of innovation and entrepreneurial leadership.
"The event is a great tool to encourage development of new and innovative companies in Orange County," said Chris Lynch, vice president of Business and Economic Development at the Irvine Chamber.
Fourteen newly formed companies had the chance to present their business plans to a panel of angel and venture capital investors. Cake Energy, an Irvine-based alternative energy firm, garnered the Best Overall Business Plan award. DesiYou, which has satellite offices in Irvine and is headquartered at the Digital Media Center in Santa Ana, netted the Best Digital Media Business Plan honor.
"Yesterday's event was a blessing," said Ash Kumra, CEO, founder and chairman of DesiYou, a multiplatform video distribution network focused on the global Indian culture. "The mentors and prize money we received will help further accelerate our goals."
Looking ahead, Kumra said the company plans to expand its content library and partner with film studios and filmmakers; build out its mobile video distribution; and provide e-commerce programs using its distribution network.
The Irvine Chamber plans to track how the participating companies fare over the coming years, according to Lynch.
"This area has a rich history of startups becoming major economic players," he said, "and this event will help local entrepreneurs be more successful at launching the companies."
Related headlines
Organizers ramp up for OC METRO's 2010 Green Team celebration
SBA's Santa Ana chapter honors entrepreneurs, professionals
CSUF: Regional economy sees improvement
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More than 175 business and community leaders descended upon the forum, which marked the first collaborative effort among the Irvine Chamber of Commerce, city of Irvine and the university. The event, which was made possible by the O.C. Workforce Investment Board, was established to showcase Irvine as a center of innovation and entrepreneurial leadership. "The event is a great tool to encourage development of new and innovative companies in Orange County," said Chris Lynch, vice president of Business and Economic Development at the Irvine Chamber. Fourteen newly formed companies had the chance to present their business plans to a panel of angel and venture capital investors. Cake Energy, an Irvine-based alternative energy firm, garnered the Best Overall Business Plan award. DesiYou, which has satellite offices in Irvine and is headquartered at the Digital Media Center in Santa Ana, netted the Best Digital Media Business Plan honor. "Yesterday's event was a blessing," said Ash Kumra, CEO, founder and chairman of DesiYou, a multiplatform video distribution network focused on the global Indian culture. "The mentors and prize money we received will help further accelerate our goals." Looking ahead, Kumra said the company plans to expand its content library and partner with film studios and filmmakers; build out its mobile video distribution; and provide e-commerce programs using its distribution network. The Irvine Chamber plans to track how the participating companies fare over the coming years, according to Lynch. "This area has a rich history of startups becoming major economic players," he said, "and this event will help local entrepreneurs be more successful at launching the companies." Related headlines Organizers ramp up for OC METRO's 2010 Green Team celebration SBA's Santa Ana chapter honors entrepreneurs, professionals CSUF: Regional economy sees improvement |
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