Affinity Lab wins $100,000 for expansion in city-sponsored business plan competition

July 07, 2009

Affinity Lab has been selected as the winner of the 2009 PremeirPlan Business Plan Competition sponsored by the Washington DC Economic Partnership, with funding of the $100,000 prize provided by Enhanced Capital Partners, Advantage Capital Partners and the DC Coalition for Capital. The funds will be used towards the development and marketing of Affinity Lab's next location.

There were 40 businesses who participated in the competition. “We saw four great presentations from the finalists,” says Steve Moore, President and CEO of the WDCEP. “These business concepts were very exciting but Affinity Lab stood out as the new new thing. They capture what is happening now in the incubation of small businesses. Without fail, when they are done telling you what they do, people say ‘I want to be a part of that’”.

Affinity Lab's COO, Philippe Chetrit, presented the Lab's expansion plans in the finalist round to an audience of 20 judges comprised of venture capitalists, business owners and city officials. Charles Planck, the Lab's CEO and Berit Oskey, the Lab's president, as well as Lab members Joey Coleman, CEO of Design Symphony, and Raj Aggarwal, President of Joint Concepts, joined Philippe on stage for a lively and collaborative 10 minute Q&A session with the entire audience. By the end of the day Affinity Lab had been announced as the winner.

"The only thing better than the hope and talent of DC entrepreneurs is the opportunity and capacity to make that hope and talent real. The city and the contest judges really got that about our mission, and the very real successes we have created with our members," says Planck. "We haven't even met all the DC entrepreneurs and innovators this prize will positively impact, but we're looking forward to it."

Added Oskey, "It was amazing to see so many members come together to create the winning presentation materials and critique our presentation during practice runs. This is what we are all about."

For more coverage of the contest: