Fetch Rewards LLC —which won second place at the G. Steven Burrill Business Plan Competition last month —went on to win the $10,000 Innovative Minds Challenge on May 10.
Innovative Minds, a competition at the University of Wisconsin-Madison, is sponsored by the Madison office of the law firm Perkins Coie LLP and recognizes the top student innovations of 2013 that are best positioned for commercial development.
Schroll with Fetch team presenting at Burrill competition
Fetch Rewards, which won for its mobile application designed to reinvent the grocery shopping experience, also won a year of free rent at the University Research Park at the Burrill competition. The company is run by UW-Madison business student Wes Schroll. The application has not only has logged a year of development, but will be beta-tested this fall at grocery stores in La Crosse, Wis.
The mobile phone application lets shoppers directly scan purchases into their phones, providing a running tab of the grocery bill and automatically triggering available coupons. It also saves the shopper time at the checkout aisle and gives consumer packaged goods (CPG) companies a way to build brand loyalty through a loyalty reward program.
The Fetch team conducted research with marketing students at UW-La Crosse and, this fall, will pilot their technology in partnership with grocery stores in the city. Schroll says La Crosse is an ideal test market, since it has a high percentage of younger customers from UW-La Crosse, Viterbo University, and Western Technical College.
Fetch team with second place ribbons from the Burrill competition
UW-Madison is the fourth campus, along with the University of California, Los Angeles, Arizona State University, and Northwestern University, to serve as home to an Innovative Minds competition. Perkins Coie launched the program in 2011 to help advance creative thinking, innovation and entrepreneurship.