The Enterprise Center Reinvents Y-12 Innovation Competition

Tuesday, October 8, 2013

At the third-annual Y-12 Innovation Competition, The Enterprise Center is making available technology developed at Y-12 National Security Complex to regional teams to create beta products and develop business plans in competition for cash and prizes, including startup business assistance.

To encourage Chattanooga’s entrepreneurial growth, The Enterprise Center has partnered with Y-12 National Security Complex for the past three years to host a business plan competition. This year, The Enterprise Center is upping the stakes. Not only will the intellectual property under development at Y-12 be revealed, as in years past, but regional competitors will be able to actually use the software from the Department of Energy’s technology portfolio as they flesh out their new business concepts.

“Giving participants the workable software developed at Y-12 further grounds this competition in reality instead of hypotheticals,” said Chris Daly, director of The Enterprise Center’s Office of Technology Development and Transfer.

Available to all entrepreneurs, web designers and software developers throughout the region, the competition is for those interested in developing a beta of a commercially-viable product or business concept. Participants take existing software from Y-12's portfolio and develop a business plan around them, creating entirely new enterprises. The full technology portfolio up for grabs to competition entrants can be viewed at http://techportal.eere.energy.gov/lab/Y12/browse. While competitors may develop a business plan around any Y-12 technology, the competition will be focused around two pieces of logistics software – IR3AM and EVALUATE.

Extreme Value Analytical Logic Utilized for Advanced Trend Examination, or EVALUATE for short, analytically evaluates a group’s characteristics to determine the group’s behavior. The intended use of EVALUATE is to predict when a change in behavior is beginning to occur so that the software users, be they policy makers, marketers, security personnel, etc., can respond to the anticipated new trend in a timely manner.

The Integrated Route, Risk, Resource, Analysis and Allocation Model, otherwise known as IR3AM, is a decision support and probability-based analysis tool that will evaluate transportation over a selected time interval and determine the allocation of resource and manpower assets to best alleviate risk. The logistics software has the ability to show where resources are needed and where those resources should be directed for more efficient response time.

“Seeing the software we’ve developed demonstrated for commercial use is a great step forward in our quest to realize our technologies’ full potential as viable, market-ready consumer products,” said Jeremy Benton, Y-12 National Security Complex’s commercialization and partnerships manager.

The newly-revamped competition will come to a head at the finale pitch event held at the Business Development Center on Friday, Nov. 8 at 10 a.m. At the event, competition participants will receive feedback on their business models from The Enterprise Center and a panel of experts. The ultimate winning team will receive $2,500 in cash and additional business assistance for the development of a potential startup company. The Enterprise Center will work closely with the winners to facilitate the technology licensing process with Y-12 and provide favorable option terms. In addition, the Business Development Center will offer free access to the Gig Lab conference room and tele-presence capability to the winning team, while they prepare to launch their new business.

Dr. Greg Laudeman, who has a startup in development, saw last year’s competition as an opportunity to talk through his business concept, getting feedback on his idea and meeting key contacts along the way. At the moment, he is in the final stages of building relationships with charter customers and developing an interactive web application before his startup’s launch.

“The Enterprise Center has been a great help in connecting me with resources, acting as a sounding board and providing moral support and encouragement, all of which are critical when you’re trying to get a startup off the ground,” said Dr. Laudeman.

This year’s Y-12 Innovation Competition is open to the public free-of-charge, but seating is limited, so attendees must reserve a seat in advance. For those interested in participating on a competition team or attending the event, contact Christi Doll at The Enterprise Center’s Office of Technology Development and Transfer at 423 425-3772 or doll_c@theenterprisectr.org.


CBL Closes Long-Term Fixed-Rate Loan Secured By Ambassador Town Center

CBL & Associates Properties, Inc. on Thursday announced that it closed on a non-recourse $47.7 million loan secured by Ambassador Town Center in Lafayette, La. The seven-year loan bears a fixed interest rate of 3.22 percent and was provided by a new institutional lender. Proceeds from the loan were primarily used to retire the existing construction loans with an aggregate balance ... (click for more)

First Tennessee Bank Presents $50,000 Check To Ancla Insurance And Services

First Tennessee Bank’s Chattanooga Community Development Manager Tracee Smith and Cleveland Community President Mike Griffin presented Ancla Insurance and Services President Beth Underwood with a check in the amount of $50,000 at First Tennessee’s downtown office. The funds donated by First Tennessee will be used to enhance Ancla’s onsite computer lab and build on its lifestyle ... (click for more)

Family At Bedside Of Legendary Lady Vol Coach Pat Summitt

The family of legendary Lady Vol coach Pat Summitt was at her bedside on Sunday. Erin Freeman, of the Pat Summitt Foundation, released this statement: “On behalf of Pat Summitt’s family, we acknowledge the past few days have been difficult for Pat as her early onset dementia, ‘Alzheimer’s Type,’ progresses. "She is surrounded by those who mean the most to her and during ... (click for more)

Firefighters Put Out Fire In Compost Pile At City's Wood Recycling Center

Chattanooga firefighters were called to a fire at the city's wood recycling center on N. Hawthorne Street around noon on Sunday. Battalion Chief Don Bowman said the smoke and flames could be seen from several miles away.   Firefighters with five fire companies worked to get the blaze under control, using master streams from two aerials and some hand-held hoselines. The ... (click for more)

Improvements Needed At Entrance To Wilcox Tunnel

I am writing this letter to bring to your attention to a city traffic issue that needs to be addressed immediately, the sooner the better. I can see no large cost factor.   Recently, while as a concerned citizen, removing trash and litter from the entry/exit area of the Wilcox Tunnel on the side that runs into Chamberlain Avenue, I fully realized that this area could ... (click for more)

Roy Exum: Where Will George Go?

George Will, easily one of the most respected conservative columnists in America and a Republican commentator, was a guest on Fox News Sunday yesterday when he made a very revealing statement. He announced he has left the Republican Party “for the same reason I joined it” and that he is not only disappointed by the party’s actions but its increasingly-inept leadership as well. ... (click for more)