2009 Updates on Past Governor’s Giant Vision Business Competitors

A survey was sent to all past entrants of the Governor’s Giant Vision Program.  The responses came from individuals who actually competed in the event and from those who did not make the first cut.  Here just a few of the reports of business participants.

Tobey Vander Laan, Wild Dutchman Products, Mound City
How far has your business advanced?     We have taken more advanced step in our distribution by taking on more distributors.
Progress since awards program:  We have been taken on as Sioux Falls Canaries official seed for 2009 season and have it until we no longer want it.  Our product is in ND, SD, Wy, MT, MN not to mention all the states we ship personal orders to,  which is about 80% of the 50 states and we also ship to some soldiers stationed in other countries.
 What's Next? Even more distribution - with corporate distribution companies.

 J. Evelyn Clerx, Aqua Bling, Vermillion
Did you reach the start up stage?  Yes
We produce a water bottle accessory designed to promote health, eco-conscious living and style.
Progress since awards program:  I have developed product, qualified overseas manufacturer, expanded on original design by developing new charms, launched a website, placed my product in retailers in 7 states, and received national media exposure.  (www.myaquabling.com, www.twitter.com/aquabling, aquabling on facebook, younoodle.co/startups/aquabling)
What’s next?  Continue to expand on retail distribution, growth, build brand awareness and consumer excitement.

Mike Vetter, DataSync, Sioux Falls
Business did reach the start up stage and has progressed.
DataSync Suite is a software tool that improves how business applications are accessed and integrated. DataSync Suite has 3 core improvements to how software is delivered and accessed:
1.Web-based access – Use any web browser to access all your business applications
2.Single sign-on – Use one user name and password to securely access all applications
3.Integration – No data re-entry, information is automatically synchronized between applications

CEO – Founder Mike Vetter has 10 years of experience in technology and has proven management experience.  Mike is a graduate of Dakota State University.

Mike Vetter was a two time applicant for the Giant Vision Business Awards.  In 2007 DataSync, then based in Madison, SD entered the competition with a focus on information security.  The company made the top eight but did not place in the top 5. 

Vetter and his team incorporated feedback received from the Giant Vision experience along with mentorship by his board of advisors.  The company focus was changed to data integration software and its headquarters were moved to Sioux Falls, SD.

In 2008 Vetter’s company with its new model again submitted to the Giant Vision business plan competition.  The company made the cut to the top eight but again fell short of the top 5.

The company gained valuable input and significant contacts from the exposure of being in the competition.  Interest in angel capital investment mounted.  By summer, South Dakota’s RAIN (Regional Angel Investment Network) funds became champions for getting DataSync funded.  RAIN funds from a three state area committed funds and side-by-side investments from individual RAIN fund members and other accredited sources were achieved.  On Christmas Eve of 2008 the company broke escrow completing an initial fundraising round of $500,000 in equity capital.

Today, DataSync is outperforming its pro-forma numbers and their burn rate is under budget.

Mike Vetter and the DataSync team have persevered despite obstacles, accepted coaching and mentorship and have proven that there is more than one way to come out a winner.