Strategic Thinking Industries Wins 2005 Fisher Business Plan Competition Sponsored by Deloitte & Touche USA LLP

Business Wire, June 27, 2005

COLUMBUS, Ohio -- The Center for Entrepreneurship at Ohio State's Fisher College of Business today announced that Strategic Thinking Industries (STI) won the 2005 Fisher Business Plan Competition sponsored by Deloitte & Touche USA LLP. The company, which provides software products for the healthcare information technology industry, was one of six finalists competing for the more than $100,000 in start-up funds and services. Brian Olah founded the company in 2000.

"STI is an impressive young company with tremendous growth prospects," said Michael Camp, academic director, Center for Entrepreneurship. "Our judges included many of the region's toughest critics when it comes to evaluating entrepreneurial opportunities. But, they felt STI stood out from the others because of the team's strong connections in the target industry and solid progress in software development and market testing."

The STI team includes Olah; Matt Miller, partner and vice president; and Suzanne Sherlock, information technology consultant and part-time MBA student. STI is participating in an $8.4 billion healthcare information technology industry, with a focus on providing solutions in the labor and delivery market segment that continues to grow as more hospitals convert from paper-based systems to electronic charting.

"The mixture of award money and services will be used to fund the development of new software products to complement the reporting and interface tools that they have developed and will give the company the capital and resources needed to patent their existing products," Sherlock said. "Lastly, the tax and accounting services provided by Deloitte will enable STI's partners to make sound choices for the growth of their company."

The top three winners will share $20,000 in cash prizes and nearly $100,000 of in-kind services from leading Columbus-based professional services firms, including Deloitte; Business Technology Center; Calfee, Halter, & Griswold; Commerce National Bank; Fahlgren Mortine Public Relations; New Product Innovations, Inc.; and Pinnacle Data Systems, Inc.

The second place winner, Authis, provides outsourced authentication services for a wide range of online consumer and business applications. The third place winner, Siren Audio, distributes high-quality production audio content (i.e. sound effects and production music) quickly and efficiently via the Internet.

"The competition works to spotlight and encourage the entrepreneurial talent that exists in central Ohio," said Larry Hilsheimer, Deloitte & Touche USA LLP, vice chairman and regional managing partner for Deloitte's Ohio Valley Offices. "We are impressed in how the quality of ideas has progressed throughout the life of this program."

Judges evaluated presentations on several criteria, including the quality of the business concept, the size and growth of the market, the strength of the management team, and the opportunity to make money for the investors. In its fifth year, the competition empowers community members to turn their business ideas into a formal plan for growth and success. Teams must include at least one Ohio State University student, and may not have invested more than $100,000 in their business prior to the competition. More than 100 teams submitted plans for this year's competition.

"This year's competition included the best overall group of business plans we have seen in the five year history of the Center for Entrepreneurship's Business Plan Competition," Camp noted. "The teams are more focused, the business concepts are more compelling and the plans are more developed than ever before. Today, the competition is much more than an educational exercise. All six finalists have the potential to be dynamic companies."

The Center for Entrepreneurship, the Graduate E-Club and the Business Builders Club offered all teams submitting business plans instructional programs leading up to the competition. Each team selected for the Business Plan round received business plan software specialized for testing viability, assessing business needs, and preparing financial projections. Six teams were selected to compete in the final judging event based on the quality and integrity of their proposed business concepts.

About The Center for Entrepreneurship:

The Center for Entrepreneurship at the Fisher College of Business is an official academic center of The Ohio State University. Launched in November 2001, the Center supports academic research and education in entrepreneurship. In addition, the Center facilitates entrepreneurial learning and experiences that will impact a global economy and stimulates economic growth by assisting new company formation and graduating students who possess strong entrepreneurial skills and experiences.

About Fisher College of Business:

The Ohio State University's Fisher College of Business is one of the few business schools with both its undergraduate and MBA programs ranked in the top 20 by U.S. News & World Report. The college offers full-time, part-time and executive MBA, Master of Accounting and Master of Labor and Human Resources programs. The college of business was started in 1916, and was named the Fisher College of Business in 1993, in honor of Max M. Fisher, a noted philanthropist, industrialist and alumnus of the college.