<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <!-- saved from url=(0072)http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3169 --> <HTML><HEAD><TITLE>Mainstreet Business Journal - View Article</TITLE> <META http-equiv=Content-Type content="text/html; charset=unicode"><!--iso-8859-1--> <SCRIPT language=JavaScript> <!-- Idea by: Nic Wolfe (Nic@TimelapseProductions.com) --> <!-- Web URL: http://fineline.xs.mw --> <!-- This script and many more are available free online at --> <!-- The JavaScript Source!! http://javascript.internet.com --> <!-- Begin function popUp(URL) { day = new Date(); id = day.getTime(); eval("page" + id + " = window.open(URL, '" + id + "', 'toolbar=0,scrollbars=0,location=0,statusbar=0,menubar=0,resizable=1,width=300,height=150,left = 526,top = 332');"); } // End --> </SCRIPT> <LINK href="Mainstreet Business Journal - View Article_files/site.css" type=text/css rel=stylesheet> <META content="MSHTML 6.00.2900.3314" name=GENERATOR></HEAD> <BODY bgColor=#888888 leftMargin=0 topMargin=0 MARGINHEIGHT="0" MARGINWIDTH="0"> <DIV id=mainouter> <CENTER> <DIV id=mainsite> <DIV id=topgreenbar></DIV> <DIV id=mainbanner> <CENTER><IMG alt="The MainStreet Business Journal. The business pulse of Southwest Utah" src="Mainstreet Business Journal - View Article_files/headimg-a.jpg"> </CENTER></DIV> <DIV id=mainmenu><A class=menu href="http://www.mainstreetbusinessjournal.com/">Front Page</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/classifieds.php">Classifieds</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/businessdir.php"><IMG height=15 src="Mainstreet Business Journal - View Article_files/walkingfingers.jpg" border=0> Yellow Pages</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/rates.php">Ad Pricing</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/subscribe.php">Subscription Options</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/view/">Archives</A> | <A class=menu href="http://www.mainstreetbusinessjournal.com/aboutus.php">About Us</A> &nbsp; </DIV> <DIV id=maincontent> <TABLE cellSpacing=0 cellPadding=0> <TBODY> <TR> <TD id=articlesmenu> <TABLE cellSpacing=0 cellPadding=0 width=171 bgColor=#fef4da border=0> <TBODY> <TR> <TD class=styles align=middle bgColor=#5e8485><FONT color=#ffffff><B>Jun. 4, 2008 - Jun. 24, 2008<BR>Volume 11 - Issue 20</B></FONT></TD></TR></TBODY></TABLE> <TABLE cellSpacing=2 cellPadding=2 width=171 bgColor=#fef4da border=0> <TBODY> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=People+Doing+Business">People Doing Business</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3207">Brokerage Adds Two New Agents</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3213">Bank Hires Development Officer</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3214">Business Development Manager Hired</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=Local+Business+News">Local Business News</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3198">High Tech Company Named Best of State</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3208">Commercial Door Supplier Opens in S. Utah</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3216">Bank Exceeds Projections</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3215">Spinal Clinic Opens</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3217">S. Utah Commercial Real Estate Briefs</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=More+Effective+Management">More Effective Management</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3212">Real Estate - Lease Verses Buy</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3211">Are You Banking on Technology?</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3209">Why The Increase In EEOC Charges?</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=Economic+Trends">Economic Trends</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3210">More Domestic Economy ABC's </A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3195">SLC CFOs Expect Increased Q3 Hiring</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3199">Utah Execs' Optimism About Economy Falls</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=Business+Events">Business Events</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3218">Construction Spanish Class Scheduled</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=Education+and+Business">Education and Business</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3206">Profs Honored for Implementing Technology</A></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3197">DSC Dental Hygiene Program Receives $2,500 Award</A></TD></TR> <TR> <TD class=headerstyles vAlign=center width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg"><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/category.php?category=Community">Community</A></B></TD></TR> <TR> <TD class=styles style="PADDING-LEFT: 5px"><A style="FONT-SIZE: 8pt" href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3205">Utah Arts Council Honors Pair</A></TD></TR> <TR> <TD class=headerstyles width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg" height=26><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/classifieds.php">Classifieds</A></B></TD></TR> <TR> <TD class=headerstyles width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg" height=26><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/businessdir.php">Yellow Pages</A></B></TD></TR> <TR> <TD class=headerstyles width=170 background="Mainstreet Business Journal - View Article_files/menubar3.jpg" height=26><B><A class=greengray href="http://www.mainstreetbusinessjournal.com/aboutus.php">About Us</A></B></TD></TR></TBODY></TABLE></TD> <TD id=vertsep> <TD> <TD id=mainbody> <TABLE cellSpacing=2 cellPadding=3 border=0> <TBODY> <TR> <TD class=styles></TD></TR> <TR> <TD class=styles><FONT size=3><B>No Prize for Winning Entrepreneur </B></FONT></TD></TR> <TR> <TD class=styles><FONT size=2><B>Guv, contest organizers deny promising Cedar City man $100,000</B></FONT></TD></TR> <TR> <TD class=styles><I><BR></I></TD></TR> <TR> <TD class=styles> <DIV class=articlebody style="BORDER-RIGHT: red 0px solid; BORDER-TOP: red 0px solid; BORDER-LEFT: red 0px solid; BORDER-BOTTOM: red 0px solid"> <DIV class=imagebox style="BORDER-RIGHT: black 0px solid; BORDER-TOP: black 0px solid; FLOAT: right; BORDER-LEFT: black 0px solid; WIDTH: 162px; BORDER-BOTTOM: black 0px solid; TEXT-ALIGN: center"> <CENTER><IMG src="Mainstreet Business Journal - View Article_files/3169-1.jpg" width=142><BR> <DIV class=caption style="CLEAR: both; BORDER-RIGHT: black 0px solid; BORDER-TOP: black 0px solid; FONT-SIZE: 8pt; BORDER-LEFT: black 0px solid; WIDTH: 142px; BORDER-BOTTOM: black 0px solid; FONT-STYLE: italic">Chris Culp with his invention, the Dump-a-matic. (Photo courtesy D.A.M. Truck Tools Inc.)</DIV></CENTER></DIV> <P><SPAN style="FONT-SIZE: x-small; FONT-FAMILY: arial,helvetica,sans-serif">CEDAR CITY  A Cedar City entrepreneur whose product idea last year won a statewide business idea contest has apparently been stiffed for $100,000 in prize money by the competition s organizers.<BR><BR>Chris Culp's Dump-a-matic, a rolling platform that converts a pickup truck into dump truck, beat out 110 business ideas for top prize at last year s Governor s Economic Summit in Salt Lake City. A group of angel investors who organized the competition had offered a $100,000 first prize to help the winning entrepreneur get his or her business off the ground.<BR><BR>When his victory was announced, Gov. Jon Huntsman shook Culp s hand and TV stations and newspapers across the state gave him and the Dump-a-matic splashy news coverage.<BR><BR>But more than a year later, Culp told a Salt Lake City television station he hasn t seen a dime of his promised prize money.<BR><BR>Instead, Culp said, he was notified by email that angel investors are unwilling to fund his company. He now considers the so-called contest  a promotional scam, nothing but a publicity stunt.<BR><BR> "I get an e-mail telling me that I am un-fundable because I live in Cedar City...because I don't have a team," he said.<BR> <BR> Angel investors are typically private individuals who invest in new business startups. The investments can range from several thousand dollars to more than $1 million, and are usually smaller deals than those made by venture capitalists.<BR><BR>Grow Utah Ventures, a group that supports entrepreneurs by supplying them funding, tools and resources, said it organized the competition at the request of Huntsman's office.<BR><BR>But the group never intended to fund the prize money through its programs, Grow Utah Ventures chief executive Craig Bott told a TV station. He pointed out that Culp signed an acknowledgement that might not get any money for his winning idea.<BR><BR>"I don't think it was a stunt," Bott said. "The event was to promote entrepreneurs and recognize that there are independent investors who are here supporting them."<BR><BR>The governor's office also denied that Huntsman promised $100,000 to Culp or anyone.<BR><BR>In fact, nobody ever received the $100,000 in prize money that was dangled as an incentive to get entrepreneurs to enter the contest. That s why Culp believes the entire event was a publicity opportunity to promote Utah's economy and friendliness to small business owners.<BR><BR>Still, Culp plans to keep moving ahead with the Dump-a-matic and his company D.A.M. Truck Tools, despite receiving nothing  no money, no help, not even any business advice, for his victory last year.<BR><BR>An interesting note: At the recent 2008 Governors Economic Summit, the entrepreneur contest was noticeably absent. According to news reports, the Summit will continue to be held annually, but there are no plans for another business idea contest.<BR></SPAN></P></DIV></TD></TR> <TR> <TD><BR><BR><B>Send this article to a friend or associate:</B><BR> <FORM action=?articlesid=3169 method=post>From First Name: <INPUT maxLength=10 size=10 name=fromFname><BR>From Last Name: <INPUT maxLength=15 size=15 name=fromLname><BR>To: <INPUT maxLength=50 size=50 name=email> <INPUT type=submit value=send><BR></FORM></TD></TR></TBODY></TABLE><BR><BR> <TABLE class=styles style="BORDER-RIGHT: #5e8485 1px solid; BORDER-TOP: #5e8485 1px solid; BORDER-LEFT: #5e8485 1px solid; BORDER-BOTTOM: #5e8485 1px solid" cellSpacing=3 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD><B>All <I>Local Business News</I> Articles for This Issue:</B></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3198">High Tech Company Named Best of State</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3196">Property Management Firm Expands To S. Utah</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3204">Local Engineering Firm Expands Services</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3208">Commercial Door Supplier Opens in S. Utah</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3215">Spinal Clinic Opens</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3216">Bank Exceeds Projections</A></LI></TD></TR> <TR> <TD> <LI><A href="http://www.mainstreetbusinessjournal.com/articleview.php?articlesid=3217">S. Utah Commercial Real Estate Briefs</A></LI></TD></TR></TBODY></TABLE></TD> <TD id=vertsep> <TD> <TD id=vbanners> <DIV> <CENTER><A href="http://www.hi-speed.us/" target=blank><IMG src="Mainstreet Business Journal - View Article_files/23.gif" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.mainstreetbusinessjournal.com/subscribe.php" target=blank><IMG src="Mainstreet Business Journal - View Article_files/68.gif" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.sbsu.com/" target=blank><IMG src="Mainstreet Business Journal - View Article_files/71.gif" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.mainstreetbusinessjournal.com/businessdir.php?moreinfo=474" target=blank><IMG src="Mainstreet Business Journal - View Article_files/48.png" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http:///" target=blank><IMG src="Mainstreet Business Journal - View Article_files/76.jpg" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.naiutahsouth.com/" target=blank><IMG src="Mainstreet Business Journal - View Article_files/65.gif" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.stgeorgetoday.com/" target=blank><IMG src="Mainstreet Business Journal - View Article_files/36.gif" vspace=1 border=0></A> </CENTER></DIV> <DIV> <CENTER><A href="http://www.worldpages.com/" target=blank><IMG src="Mainstreet Business Journal - View Article_files/28.gif" vspace=1 border=0></A> </CENTER></DIV></TD></TR></TBODY></TABLE></DIV> <DIV id=bottomgreenbar></DIV></DIV></CENTER></DIV></BODY></HTML>