Tulsa World: A spirited competition

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A spirited competition
The semifinalists will be whittled to seven competitors for the final round.

Gerald Buckley talks about Grocio.com during his presentation Wednesday in the semifinal round of the Mayor's Entrepreneurial Spirit Award at Spirit Bank. Shane Bevel/Tulsa World

By LAURIE WINSLOW World Staff Writer
Published: 9/4/2008 2:10 AM
Last Modified: 9/4/2008 3:50 AM

The semifinalists will be whittled to seven competitors for the final round.

Gerald Buckley had five minutes Wednesday morning to pitch his business model to nine judges and convince them that his idea for Grocio Inc. — an online business that compares grocery prices at different stores — deserves to move to the final round of competition.

Out of more than 100 contestants, he is one of 12 semifinalists vying for the second annual Mayor's Entrepreneurial Spirit Award.

Ultimately, three entrepreneurs will be named winners and receive checks from SpiritBank: $30,000 for first place, $5,000 for second and $2,500 for third place.

In a boardroom of SpiritBank, at 18th Street and Baltimore Avenue, Buckley explained how his business takes a customer's grocery list and compares "apples to apples" by looking at how much that list would cost at different stores. To help customers save even more, Grocio also will provide a printable list of coupons, eliminating the need to clip and save coupons.

The company's primary demographics are busy moms, or "CFO moms" as Buckley calls them, who are stretched to the max as they manage the budget and other family matters. They also are comfortable using technology.

"We're saving shoppers time and money. That's what it comes down to," Buckley said.

For 20 minutes afterward, the judges peppered him with questions about financials, the benefits of his business model, market research and other matters as they tried to better understand his plan.

"It was great. As prepared as I am, I want to go back in and do it all over again and tell the rest of the story," Buckley said after his presentation. "It's kind of like the Olympics when you're in the (starting) blocks getting ready to go and the gun fires off. All of that adrenaline just rushes, and you kind of get in the zone, catch your stride and just deliver the presentation the way you practiced it over and over and over again."

For Buckley, the coaching has been the most beneficial part of the competition. "The judges have really stressed the point of getting to the point," he said.

Buckley plans to launch his business concept in the Tulsa market in November regardless of the competition's outcome. He has been working with i2E, a not-for-profit corporation that encourages the development and growth of tech companies in Oklahoma, to tighten his business plan for investors.

Sean Griffin, a senior partner of Vizalution LLC and a "thought partner" with SpiritBank, said: "It's going to be a tough choice for us to whittle down the 12 to seven. The entrepreneurs here in Tulsa are vast and wide. The business models we are seeing are extreme in terms of online couponing to a horse non-bucking harness. All of them have viability.

"Our challenge is to identify the one that has the greatest chance for long-term success, but it's awesome."

John Blackwell of Locust Grove spoke Wednesday on behalf of Goshen Enterprises, a family business that markets the non-bucking horse harness.

Blackwell said his uncle, Billy Barnes, invented the device, which trains a horse not to buck. "He started actually just selling it rodeo to rodeo and person to person about three years ago, and then he asked for our help about a year and a half ago."

Blackwell said his family, including his two sisters and parents, help publicize and market the harness.

"There are 30 million horseback riders in the United States, and 100,000 go to the emergency room with injuries resulting from being bucked from a horse. It's the leading cause of traumatic brain injury in Oklahoma," he said.

Blackwell compares the harness to a bit, which is the steel part of a bridle that goes in a horse's mouth and causes discomfort if the horse doesn't respond the way it's trained to. In order to buck, a horse lowers its head first, he explained. The harness is designed to put pressure on the horse when it lowers its head, forcing the horse to lift its head and not buck.

Although it's nerve-racking to talk about the business in front of people, Blackwell said, it would "be amazing to win and have the opportunity to have expert advice."

Mayor’s Entrepreneurial Spirit Award

Out of the 12 semifinalists, seven will be selected for the final round of competition on Nov. 5

Winners to be announced Nov. 18 at the Crowne Plaza downtown

First-place winner to receive $30,000

Second place, $5,000

Third place, $2,500

Laurie Winslow 581-8466
laurie.winslow@tulsaworld.com By LAURIE WINSLOW World Staff Writer

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Grocio, Tulsa (9/4/2008 10:01:08 AM)

Great job with the story Laurie! I'd recommend the Tulsa Entrepreneurial Spirit Awards to ANYONE who want to improve their business skills: Presenting; preparing a business plan; understanding the basics of your balance sheets, cash flow, etc. Also, HIGHLY recommend all local startups to investigate i2E (Oklahoma and Tulsa offices). There aren't a lot of VC (yet) with their eyes on the Tulsa scene. I hope these sorts of competitions and services will change that in short order.

It's been a real treat to go through the process and meet a TON of smart local entrepreneurs from the Tulsa area. We really do have some amazingly talented people here.

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thinksmart 1st, sand springs (9/4/2008 2:42:13 PM)

this is a good thing an entreprenurial competition. I've seen them in Philly, New York City, and LA but always knew that Tulsa was 12 to 15 years behind the times. God I am becoming an ol man but I got to see Tulsa catch up! Good luck to the top 12

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