Vector Surgical wins fourth Governor's Business Plan Contest

MILWAUKEE – Janet Phillips of Vector Surgical, a start-up company from Oconomowoc, is the grand prize winner in the 2007 Wisconsin Governor’s Business Plan Contest.

The company, which has five medical devices that drive precision, efficiency and safety in surgical procedures, will collect prizes worth $50,000 as a result of winning the contest. This was Vector Surgical’s third year in the contest, which this year attracted nearly 300 entries from across Wisconsin.

Sixty-five judges took part in a process that progressively narrowed the field to 50 semi-finalists, 26 finalists and four category winners in Advanced Manufacturing, Business Services, Information Technology and Life Sciences. Vector Surgical was the winner in the Life Sciences category.

“The third time was the charm for Janet Phillips and Vector Surgical. This company exemplifies the importance of writing a business plan and constantly improving it over time,” said Tom Still, president of the Wisconsin Technology Council. The Tech Council produces the contest.

Vector Surgical’s first three products, MarginMarker, CorrectClips and MultiView, establish a higher standard of accuracy for marking the margins of cancerous tissue. MammoShield is used in breast cancer surgery, while LapMarker targets laparoscopic surgery. The company was founded in early 2005 and projects being profitable by 2009. Winners in other categories were:

Advanced Manufacturing: Kimberly Trygar, Dossette LLC. This Pleasant Prairie company designs and manufactures pharmacy automation equipment that includes a package filling system that requires no tooling changeover between drugs. Dossette had two other plans that made the list of finalists.

Business Services: Susanne Kufahl, Fahlgreen Solutions. This Montello firm is a biometric integration and security company that specializes in turnkey solutions for positive identification of criminal history.

Information Technology: Dave Rasmussen, Extract Systems. This Madison firm has developed software to automate the expensive and time-consuming tasks of locating and extracting sensitive information in documents, thus protecting against identity theft.

Winners in the contest were announced Tuesday at the Wisconsin Entrepreneurs’ Conference in Milwaukee. They will share in $200,000 in prizes, including cash, four separate offers of a year’s free rent in a business or tech park, legal services, accounting services, web site and information technology services and media-related services. Please see a full list of sponsors below.

The 26 finalists included ideas for products or services in energy generation or conservation, “green” building, disease management, information technology systems and security, drug research and production, nanotechnology products and personal safety.

Finalists submitted a 20-page business plan for review by a panel of 65 judges established by the Tech Council, which is the independent, non-profit and non-partisan science and technology adviser to the Governor and the Legislature. The finalists’ executive summaries as well as those filed by semi-finalists are available for inspection by accredited investors through the Wisconsin Angel Network, which has 25 member angel networks, private equity funds or corporate strategic partners.

Sponsors of the 2007 BPC are:  Aberdean Consulting LLC, American Transmission Co., Associated Bank, Axley Brynelson LLP, The Boldt Company, CG Schmidt Co, Fitchburg Technology Campus, Foley & Lardner LLP, J.P. Cullen & Sons, Johnson Block CPAs; Loughrin Accounting & Tax Service, Madison Gas & Electric Co., Makin’ HEY! Communications, Marshfield Clinic Research Foundation, Mason Wells Private Equity, McAllen TEC Campus, Michael Best & Friedrich LLP, Quarles & Brady LLP, Reinhart Boerner Van Deuren S.C., Ruedebusch Development & Construction, Smith & Gesteland LLP, State of Wisconsin Investment Board, T Wall Properties, University Research Park, Wisconsin Department of Commerce, WisBusiness.com, Wisconsin Angel Network, Wisconsin Realtors Association, Whyte Hirschboeck Dudek, and the Wisconsin Technology Council.