Salisbury, MD — Judges in the 24th round of Salisbury University’s Philip E. and Carole R. Ratcliffe Foundation Shore Hatchery entrepreneurship competition were inspired by a son’s dedication to improving the quality of life for his mother, awarding magnetic wireless electrode kinesiology tape company Lectra Technologies, Inc. with this semester’s top funding amount: $35,000.
Founder Jake Henry, of Camp Hill, PA, was able to help his mother run pain free after a long battle with debilitating osteoarthritis with his wearable device and app that not only treats musculoskeletal pain without the need for medications or surgery, but also outlasts competitors.
Held at Junior Achievement of the Eastern Shore’s Perdue Henson Center, the competition featured 15 applicants from throughout the Mid-Atlantic vying for their share of $100,000 in prize money. Other winners included:
- Krave, LLC – Aliyah Newman, Rachel Ransom and Angel Hobbs: The beverage company aims to combat the Washington, D.C., bar scene’s high prices and inconsistent options. The ready-to-drink canned cocktail bridges the gap between premium mixology experiences and affordability – $25,000
- Consult Lemonade – Tierra and Wali Lathan, Jasmine Mack and Kelvin Jones: This management and technology resource firm in Columbia, MD, specializes in the development and employment of underrepresented talent that leverages innovation and technology – $15,000
- Blackwater Apothecary – Nicole Bishop: This Salisbury-based metaphysical supply store aims to enhance current offerings and expand in the wholesale market – $10,000
- Easy Oat Burgers – Desiree Calixte: This easy-to-make; gluten friendly; and dairy-, MSG-, GMO- and soy-free, plant-based, at-home burger mix is packaged in Frederick, MD – $5,000
- GaiaXus – Dietrich Ruehlmann: The GaiaXus Water Guardian, based in Germantown, MD, is a water quality monitoring system designed for citizen scientists, students and educators – $5,000
- Sustainabli – Kevin Tu: This Baltimore company promotes energy efficiency in research, education and health care settings with innovative sensor technology – $5,000
In addition to funding, winners and participants also receive mentoring support from the program’s board. Mentors include business leaders such as Chris Perdue of Perdue Farms, Inc.; Mike Cottingham of the Rommel Companies; Dr. Erinn Tucker-Oluwole of the University of Maryland Eastern Shore; and Matt Cohen of SIMPLi.
This round’s winners join the program’s 128 previous award recipients, who have self-reported estimated profits of some $35 million annually, creating 1,169 jobs to date.
“The goal of this program is to assist where we can make the most lasting impact,” said Michael Jensen, SU executive director of entrepreneurship, “We want to play a role in expanding business growth and increasing job creation in our communities.”
Following the competition, the Ratcliffe Foundation announced another $900,000 gift to continue the Shore Hatchery program through 2029.
The program was established with an initial $1 million contribution in 2013. In 2017, the Ratcliffe Foundation announced a second $1 million gift to continue the Shore Hatchery through this spring, followed by the 2022 announcement of an additional $900,000 to maintain the program through 2026.
Administered by the Perdue School and the Dave and Patsy Rommel Center for Entrepreneurship, its goal is to fund and provide guidance to entrepreneurs with active small businesses in order to achieve greater scale and market reach.
“This program offers an important stepping stone for startups,” said Jensen. “The award removes specific obstacles to growth and enables expansion.”
Up to $200,000 annually is available for those applying for grants through the Shore Hatchery program. Its board of directors selects recipients based on presentations. All competitors have the opportunity to meet with SU’s team at the Rommel Center for Entrepreneurship to discuss resources available to support their businesses.
For more information call 410-546-4325 or visit the Ratcliffe Shore Hatchery webpage https://www.salisbury.edu/academic-offices/business/shore-hatchery/.
Learn more about opportunities to Make Tomorrow Yours at www.salisbury.edu.
