Inside INdiana Business

Innovation showcase winners named

INDIANAPOLIS (Inside INdiana Business) — The Venture Club of Indiana has announced the winners of the 2020 Innovation Showcase pitch competition. The winners, who were unveiled during the first-ever virtual edition of the event, were selected out of a field of 20 nominees and took home a total of $20,000.

Indianapolis-based MITO Material Solutions was awarded first place and $10,000. The company produces composite materials with “specialty additives” designed to help manufacturers build lighter, more durable products.

The startups pitched their ideas to a panel of judges, who determined that two companies were in an “absolute tie” for second place. Each company, Bloomington-based Stagetime Inc. and SafeKeeping Inc. in Evansville received $4,000.

Indianapolis-based Qualifi took home third place and $2,000.

“This year’s Innovation Showcase highlighted the impressive variety of innovative startups we have here in Indiana,” said Chris LaMothe, chief executive officer of Elevate Ventures, who volunteered to increase the prize package to accommodate the additional winner. “The Venture Club’s work on the Showcase really complements Elevate Ventures’ goal of developing and sustaining cultures of innovation and entrepreneurism in our state.”

The Venture Club of Indiana says it has announcements planned soon for the 2021 Innovation Showcase.