Langhorne, PA (PRWEB) September 30, 2013
Vital Training Solutions, a Philadelphia-area startup developing a web platform and mobile app to help coaches and trainers manage and monitor workouts has won top place in Novotorium’s business plan competition held on September 23, according to Stuart Segal, managing director of Novotorium. The plan for the company to launch the product “CoachiNTELL” was presented by founder Robert Goldwein, earning the startup a $2,500 cash prize and $3,000 of services from Novotorium.
“All of the entrepreneurs who participated in the business plan competition did a great job,” according to Segal. “Above all, we feel that the team from CoachiNTELL has done a fine job pulling together the many aspects of their business plan giving themselves the best opportunity for success. We are looking forward to helping them launch this new business into the marketplace.”
CoachiNTELL is a web based workout management app for college and high school athletic programs. It provides teams with tools to create, assign, and manage custom workouts all from a web browser. Athletes are able to document and report details of their workouts using mobile devices or desktop browsers, enabling coaches and trainers to see consolidated views of their teams as well as the progress of individuals. More information can be found at http://www.coachintell.com.
“Getting a chance to present my business plan in front of the Novotorium professionals was a great experience,” Vital Training Solutions Founder Robert Goldwein said. “I learned a lot just in the short time I had to present. Winning the competition will allow me to work more closely with Novotorium and their partners over the next month. I'm eager to receive guidance as I work to get my product to market.”
Novotorium’s business plan competition followed a week of classes designed to help early stage startups learn about a variety of topics, including technology, design, team development, social media, marketing and planning. Following the week of classes, four startups went forward into the competition with other companies continuing to work on their startups before making future presentations to Novotorium.
Vital Training Solutions and other companies that presented to Novotorium will be considered for funding and ongoing incubation by Novotorium as they move forward with work on their businesses. Novotorium offers selected startups a sliding scale of initial investment amounts between $5,000 and $250,000, with Novotorium’s equity position in startups based on business fundamentals rather than preset investment amounts and equity targets. In addition, Novotorium utilizes a variety of investment structures including preferred shares, common shares and convertible debt.
As a business incubator, Novotorium invests in businesses and provides a range of services such as strategic guidance, advice from subject matter experts among Novotorium’s partners and business planning services. Novotorium also offers access to tactical business resources such as a call center, a data center, technology development and marketing services.
Novotorium provides a full range of guidance, support and services for health, wellness and nutrition startups, helping entrepreneurs grow their businesses from Concept through Sustainable Operations, and every stage in between. Novotorium is conveniently located in Langhorne, Bucks County, Pennsylvania, in the Philadelphia suburbs with easy access to New York, New Jersey and the entire Philadelphia area. Novotorium accepts applications from health, wellness and nutrition startups on a rolling basis. For more information about Novotorium, please see the company’s website http://www.Novotorium.com.