PROVIDENCE — BI Medical, a year-old company led by James Wagner of Coventry, has been named the top winner in the 2017 Rhode Island Business Plan Competition. The company is developing a liquid cleaner and applicator for removing bacterial contamination of prostheses. The firm received $40,000 in cash and $53,900 in professional and consulting services as the MedTech Award winner. Wagner said there is growing market demand for the synthetic prosthetic liner cleaner his company has developed.
The contest awarded $271,000 to seven competitors, the largest prize pot since the competition opened in 2001. The winners were announced Tuesday at The WaterFire Arts Center in Providence.
The Entrepreneur Track winner was Farmer Willie’s, Pawtucket, led by Max Easton, which is marketing a diet ginger beer. Alex Tavares of East Greenwich, a graduate student at Harvard, won the Student Track for a phonics teaching device.
Four other finalists won prizes, two each in the entrepreneur and student tracks:
Care Thread, led by Nick Adams, Providence, a patient information web application; Crave Food Services Corporation, led by Matthew Tortora, North Kingstown, an online institutional food delivery system; 5 Commas, led by Andrew Oberlander, Brown University, a data system for indoor farmers; and Echowear, Nicholas Constant, University of Rhode Island, a patient monitoring system.
Sixty-three organizations, including private companies, investors, universities, and public agencies, as well as six former competitors, sponsored the competition.