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California-based
startup wins inaugural 1ST50K competition
The Codefi business incubator in downtown Cape Girardeau
recently announced that
Los Angeles-based startup Nutlock has been awarded the top prize in the
incubator’s inaugural 1ST50K competition. As the
winner, Nutlock receives $50,000.
According to Codefi officials, the competition received more
than 100 applications from 13 countries and 23 states.
 Nutlock was founded by Amir Atighehchi and Mikey Ahdoot after the pair had bike parts stolen from their apartment while studying at the University of Southern California. The duo then set out to create a better bike lock – one that was simple to install but would deter bike-wheel thieves. The eventual lock design, currently patent-pending, impressed cyclists so much that trade publications took notice and the company was able to raise more than $60,000 through a Kickstarter crowdfunding campaign.
Atighehchi and Ahdoot traveled to Cape Girardeau in July to pitch their business to Codefi’s competition committee. After weeks of deliberation, the startup was deemed the winner, with competition officials citing Nutlock’s adaptability, forward-thinking, and coachability as notable qualities.
The pair will now return to Cape Girardeau in early September to establish Nutlock and make a public presentation at the local 1 Million Cups meeting. The $50,000 prize is in the form of equity-free grants and pro-bono support services, which will be used to help grow the business.
The 1ST50K competition committee anticipates more awards for the other four finalists in the near future.
To learn more, please click here to read the full article from the Southeast Missourian.
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 Are you an entrepreneur or startup company looking to
grow in Missouri? Let us help you! MTC is currently accepting applications for
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please visit missouritechnology.com. The application
deadline is August 31.
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