Photo: Veterans Business Battle
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Nashville-based SafeStamp, which created a nanotech indicator to seal medicine packaging and allow consumers to verify its authenticity, was offered $55,000 as the winner of the fifth annual Veterans Business Battle at Rice University.
Twenty veteran-owned companies from across the country pitched their ideas to investors Friday as part of the two-day event hosted by the Rice Business Veterans Association. This student group of military veterans at the Jones Graduate School of Business awarded $14,000 in prizes, according to the news release.
More on the 20 companies: Companies selected to participate in annual Veterans Business Battle
The top five businesses repeated their presentations Saturday and were offered $120,000 in initial investments, with additional money being negotiated. Last year, the combined $550,000 offered to companies the day of the event grew to $950,000 after negotiations.
SafeStamp, with chief research and development completed at Texas A&M University, developed technology that glows orange with breath and glows blue with touch. This makes it nearly impossible to counterfeit.
It received a $5,000 prize from the Rice Business Veterans Association for placing first in the venture category, which includes new technologies with big growth potential, and received a $50,000 initial investment offer from angel investing group Beachhead Investments.
Amor Oral, a Houston-based manufacturer of flavored personal lubricants, placed first in the owner-operator division for small businesses with a $4,000 prize. It also received a $20,000 investment offer from Beachhead.
Off Duty Blue, a software management system for law enforcement agencies to manage third-party security services requests, received a $50,000 investment offer from Beachhead.