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SpectrumFX wins pitch contest

Ross Faith - Wednesday, March 13, 2013

Ross Faith, vice president for business development made the 90-second pitch for the company he and his father Kent founded.

The pair are marketing a patented product called Firebane that extinguishes all forms of fire, including lithium-ion batteries.

The $10,000 elevator pitch competition was conducted at the 512 Bar in Austin as part of the Oklahoma Buffalo Lounge, a series of Oklahoma interactive, film and music events at the South By Southwest festival. The entrepreneurs pitched their businesses before a Buffalo Lounge audience and a panel of Oklahoma Angel investors.

Faith said he was “pleasantly surprised” by the award, adding that the process of planning for the pitch competition was very useful to both SpectrumFX and him personally.

“There were a lot of great Oklahoma companies here in Austin,” Faith said. “We’re building a great interactive community in Oklahoma.”

Two other Tulsa startups – ICEdot and ReTenant LLC — were awarded $2,500 prizes in the pitch competition.

ICEdot is an emergency ID and notification service innovating safety technology for athletes and outdoor enthusiasts.

The company has developed a crash sensor that uses Bluetooth technology to notify emergency personnel or family members by text of the user’s location in case of an emergency. Chris Zenthoefer, CEO, presented the ICEdot pitch.

ReTenant, LLC, builds mobile applications for apartment complexes that are used by management personnel and tenants to increase tenant retention, enhance service levels and build community. Jacob Johnson, principal, made the ReTenant presentation.

Finalists for the Buffalo Lounge Elevator Pitch Competition were selected in February from among videotaped submissions by a panel of investment professionals at i2E, Inc., a co-sponsor of the event along with the Greater Oklahoma City Chamber as part of the Office of Entrepreneurial Development.

Faith said the competition experience will be helpful on his next big trip — the Paris Air Show in June.

The Buffalo Lounge is a collaborative effort to spotlight Oklahoma companies and innovators at the South By Southwest Conference, which last year attracted more than 50,000 visitors in the areas of film, music and interactive. Several successful companies such as Twitter, Foursquare, Phonebooth and Highlight were either introduced or spotlighted at SXSW.

The Buffalo Lounge began in 2010 when the Oklahoma Film & Music Office, the Idea Collective and the Greater Oklahoma City Chamber led an effort to create a collaborative initiative to increase Oklahoma’s presence at the SXSW festival.

Click here to read the article at the Tulsa Business Journal website.