Business Plan Writing Competition Rewards Entrepreneurial Spirit

CLEVELAND, Dec. 9 /PRNewswire/ -- The Council of Smaller Enterprises
(COSE) championed entrepreneurship at its annual meeting today as it announced the winners of the COSE Business Plan Challenge 2003, the organization's second regional business plan writing competition.
"The breadth of talent and ingenuity of ideas submitted in these plans was
overwhelming," said Keith Ashmus, COSE chairman and partner at Frantz Ward LLP. "The Business Plan Challenge continues to demonstrate that
entrepreneurship is still alive in Northeast Ohio. We're pleased that the
Challenge continues to inspire small business owners and prospective
entrepreneurs with an incentive to write their business plans."
The eight winning entries cover a diverse range of Northeast Ohio's
industry and talent, including:

- An innovative, minimally invasive chronic diaphragm pacing system
(Synapse Biomedical Ltd., Oberlin -- Best of Show; Start Up Category)
- A photography company that specializes in offering studio-quality
experience on location. (Cavanaugh Photography, Parma -- Arts Category)
- A consulting firm that brings its clients into the global economy with
counsel on financing, information technology, management, marketing and
business planning. (S&A Consulting Group LLP, Cleveland -- Minority
Business Enterprise Category)
- A social services agency providing for the needs of families of
children undergoing cancer treatment. (The Littlest Heroes,
Chesterland -- Female Business Enterprise Category)
- An independent insurance agency that plans to introduce tax preparation
services to its repertoire. (Rutledge Insurance Agency, Cleveland --
Innovation/Growth Category)
- A manufacturer who finds new and improved uses for an already
established technology. (iACTIV, Cleveland -- Manufacturing Category)
- An online publication that gives expert advice on proper conditioning
and nutrition for the still-developing bodies of young athletes (Stack
LLC, Cleveland -- 30 & Under Category)
- A patent-pending ceramic matrix composite with the potential to last up
to 20 times longer than traditional ceramics. (Stanton Advanced
Ceramics LLC, Cleveland -- Technology Category)

Best of Show Winner -- Synapse Biomedical Ltd.: This startup company is
hoping to conduct clinical studies in 2005 and bring its product -- a
minimally invasive chronic diaphragm pacing system-to market by 2007. The
company's innovative device is helping actor Christopher Reeve, and others,
breathe easier by electronically restoring normal signals to the brain.
"Entrepreneurship is about seizing opportunity," said COSE Executive
Director Steve Millard. "This year's Challenge rewards those that seized the
opportunity to participate with cash, assistance, feedback and ongoing support -- well beyond today."

The immediate payoff to the winners is significant, with $15,000 going to
each of the category winners, and an additional $35,000 ($50,000 total) to the
Best of Show Winner. Category winners also will receive a range of valuable
business support services, including business technology consultation,
cellular phone service and financial planning.

In addition, eight companies received $3,000 as Second Place Category
Award winners for their plans. They are: Technology -- AQUI Systems, Inc., Cleveland; Start Up -- ACE for the Cure Hole in One Monitoring Systems, Cleveland; Manufacturing -- Cam-Lem, Inc., Cleveland; Innovation/Growth -- Etactics Inc., Hudson; Female Business Enterprise -- Faithful Companions, Inc., Mentor; Minority Business Enterprise -- The Spiritual Spa, Shaker Heights; Arts -- Zolten Wood Design, Cleveland; 30 & Under -- Blue Moose Co., Inc. -- Snow & Ice Management Services, Cleveland.

The winners were selected through a rigorous, two-part review process. The
first stage was conducted by a panel of small business experts. This group
examined the plans in detail to ensure that the components of a good business plan were present. Then, a second panel, consisting of experts in the five core categories (Start Up, Innovation/Growth, Arts, Manufacturing and
Technology), made the final determination on the basis of each plan's
creativity and quality. Fifty judges spent a minimum of five to 10 hours each
reading business plans.

COSE, the small business division of the Greater Cleveland Growth
Association, serves as a one-stop resource for its 16,700-plus members by
providing: group-purchasing programs that reduce the cost of doing business;
advocacy on legislative and regulatory issues affecting the business
community; a wide range of resources focused on helping firms grow; and
economic development partners that can address business concerns.
( http://www.cose.org )

The Greater Cleveland Growth Association's mission is to serve as a
catalyst for economic growth and jobs creation in Northeast Ohio. As one of
the largest chambers in the nation, the Growth Association is committed to
providing superior value to members by enhancing Greater Cleveland's
competitive advantage through leadership, collaboration and innovation.
( http://www.clevelandgrowth.com   )