Goradia Innovation Prize

The Goradia Innovation Prize recognizes the best innovations from the Houston Gulf Coast Region and encourages bringing those innovations to the marketplace.  The benefits of innovation can only occur when breakthrough technologies and groundbreaking products reach customers and patients.
 
The Goradia Innovation Prize is awarded to those early stage companies that have commercialized or are very close to commercializing innovative technologies within the region.   The selection of awardees is based upon the commercial potential of the innovation, the soundness of the business plan, the potential for job growth within the region and the likelihood of significant long-term success.  The prize is a direct grant to be applied to bringing the technology to market.

A structured and disciplined process will be used by a prestigious panel of judges to evaluate the finalists and select the prize winners. 
The Houston Technology Center gratefully acknowledges the support and contribution of Vijay Goradia and Dr. Marie Goradia and their family for establishing the prestigious Goradia Innovation Prize and their $1 million donation to the fund which will be distributed over 10 years.  HTC additionally acknowledges the Greater Houston Partnership’s Opportunity Houston marketing program for their donation of $150,000 to the 2011, 2012 and 2013 Goradia Innovation Prize.  


2012 Winners:

GRAND PRIZE of $50K awarded to Procyrion, Inc., Benjamin Hertzog, President & CEO. Procyrion is developing the first catheter-deployed circulatory assist device for long-term use to treat Class III-IV heart failure patients in the US who have few therapeutic options. 

1ST PLACE of $35K awarded to Smart Office Energy Solutions, Bryan Hassin, Co-Founder & CEO. Smart Office Energy Solutions reduces office energy consumption by up to 25% by engaging the people inside it. 

2ND PLACE of $25K awarded to SHMsoft, Inc., Mark Kerzner, President & CEO.  A Big Data solutions provider, is the first to develop an open-source e-Discovery solution that uses advanced clustering technology.

3RD PLACE of $15K awarded to DreamSaver Enterprises, LLC, Chris Shiver, President & Founder. Composite Thermal Transfer Prevention materials and solutions based on Space Shuttle heat shield materials stop the transfer of heat more efficiently, against higher temperatures, with lower cost and lighter weight. 

Honorable Mentions include Akros TechLabs, LLC, Sid Prasanna, CEO; CBM Enterprise Solutions, LLC, Cindy Boyd, CEO; Epic One Corporation, William Gomez, Jr., Co-Founder; Nurtured by Design, Yamile Jackson, CEO & Founder

 
 
 
 
Judging Criteria
 
Mandatory Requirements:

• Company is headquartered in the 30 county Texas Gulf Coast region surrounding Harris County as currently defined for the Texas Emerging Technology Fund program (www.gulfcoastrcic.org):  Austin, Brazoria, Brazos, Burleson, Chambers, Colorado, Fort Bend, Galveston, Grimes, Hardin, Harris, Houston, Jasper, Jefferson, Leon, Liberty, Madison, Matagorda, Montgomery, Newton, Orange, Polk, Robertson, San Jacinto, Trinity, Tyler, Walker, Waller, Washington, and Wharton. 
• The product being developed must be based on disruptive technology and must be technically sound 
• The company must be an early stage company, less than 5 years old, with less than 5 employees, and has raised less than $1,000,000 from outside investors.• Application process includes submitting a non-confidential business plan
• Finalists must participate in the Innovation Conference & Showcase presented by Houston Technology Center on October 9, 2013, as well as, participate in the Technology Champions meeting the morning of December 6, 2013.  
• Winners of the Grand Innovation Award and top prizes cannot compete in succeeding years, but honorable mention prize winners may compete again. 
• Winners of the Grand Innovation Award and top prizes will provide an updated annual executive summary for 5 years post award 
Key Criteria:

• Commercial Potential – is the company likely to succeed and what levels of financial results can be anticipated?
• Level of Innovation – is it a breakthrough or disruptive technology or product?
• Business Pan and Management Team – how well does the management understand the opportunities and challenges, and are willing to seek help to accelerate success? 
• Job Growth & Wealth Creation – who beneficial will the company be to regional economic development? 
Other Considerations – Applicant Presentation:
• Applicants may be asked to respond in writing or orally to questions from the staff, as well as, to provide an oral presentation as part of the judging process.
NOTE:  criteria subject to change at management’s decision.
  


"How To" Workshop:

A Goradia Innovation Prize Application Workshop will be held for those wanting to better understand the program, judging criteria and how to complete the application form.  Date of the workshop is Wednesday, June 5, 2013, 2:00 PM - 4:00 PM, Houston Technology Center, 410 Pierce Street, Houston, TX 77002.   Pre-registration is advised for the workshop at HTC calendar www.houstontech.org.

 

Application Deadline:

Noon, Tuesday, July 9, 2013. 

 
If you have any questions about the prize, please e-mail goradia@HoustonTech.org.

 

 

 

 

 
 
 
 
Print