?Gone in 60 Seconds? a Fast-Track Success

On the same day the Dow Jones Industrial Average fell more than 500 points, Jeff Amerine was happy to report a vibrant buzz at an elevator pitch contest in Fayetteville.

“It was uplifting,” said Amerine, the technology licensing officer for the University of Arkansas’ Office of the Vice Provost for Research.

Deemed “Gone in 60 Seconds,” the contest allowed entrepreneurs one minute to pitch their ideas. Winners were determined by audience response via Sumotext mobile voting. Amerine said 65 percent to 70 percent of the more than 200 who attended the event voted.

Originally intended to support 10 contestant teams, Amerine said the event admitted 20 teams and turned away another five or six. He also called the response “overwhelming” after attendance far exceeded the target crowd of 75.

Now Amerine and other organizers are planning a second contest for Oct. 27, to be held at Buck Nekkid BBQ in Fayetteville. They’re also considering hosting events in other parts of the state, as far away as El Dorado and Magnolia.

The winner of the Aug. 4 competition was cycleWoods Solutions LLC, which essentially turns wood waste product into an alternative to plastic consumer bags. In the right conditions, the cycleWoods bags decompose.

The presenters, Jack Avery and Pri Silva, won $1,000 for cycleWoods. The event had more than 10 sponsors, Amerine said.