Challenge aims to fuel IT business

The ARK Challenge is a 14-week mentorship-driven business accelerator based in Fayetteville. The program began Aug. 15.

The project was one of 20 selected nationwide to receive federal funding to advance regional competitiveness.

It is designed to recruit and help information technology companies grow in Northwest Arkansas in three core clusters: retail, transportation and logistics, and food processing.

The ARK launched in March as a Winrock International initiative with partners the University of Arkansas and Northwest Arkansas Community College.

The Economic Development Administration, the Small Business Administration and Employment Training Administration, as well as Winrock International, Gravity Ventures and Fund for Arkansas’ Future, provide funding. Applications came from 14 countries. Each selected startup receives $18,333 in seed money to cover living expenses while building a prototype.

The ARK receives a 6 percent equity stake in each participating company.

The project received $2.1 million to fund the camp for two years. This is the first year.

This year’s participants are:

Agricultural Food Systems - Hugh Lawson HembreeV, Jose David Andrade and Andrew Kirk Dennison of Siloam Springs

Mass Vector - Ben Hundley and Adam Vanderbush of Fayetteville

CayMay Education - Lincoln Vu of Boca Raton, Fla.

Btiques - Sara Beck and Will Carter of Fayetteville

Earn and Play - Pablo Arellano Jr. and Colin Klayer of Cincinnati

YumYumNet - Jonathan “Yoni” Trope and Pavan “Niel”Malhotra of New York

EpicPledge - Weiting Tan and Anthony Chew of Singapore, via Santiago, Chile

MineWhat - Janakiram Ganesan and Pavan Kumar Thiruvuru Vijayan, Bangalore, India

Sooligan - Natasia Malaihollo and Nikka Umil of Berkeley, Calif.

Farmeto - Colin Shaw, David Tanner and Sam Friday of Fayetteville and Rogers

Refurrl - Zackery Hill,Alex Chalupka and Jonathan Peoples of Conway

SpareTime - Aron Shelton and Alyssa Snyder of Fayetteville

StackSearch - Mark Brandon and Sloan Ahrens of Fayetteville

Streamix - Chuong Nguyen, Josh Pham and Kenny Cason of Fayetteville

Truckily - Derek Kean and Matthew Berkland of Kansas City, Mo.

Business, Pages 59 on 09/23/2012

Upcoming Events