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Looks like Rach.io, a Denver-based startup that makes technology for smart sprinkler systems, has found the perfect way to launch a company in Colorado and raise the equivalent of a small angel round—win a business plan challenge every two weeks.
Rach.io took home the $15,000 top prize Wednesday at the Colorado Technology’s Association Apex Challenge. The win comes less than two weeks after it won $50,000 at the Colorado Innovation Network’s “Glorious Failure” challenge.
The $65,000 is the only outside money Rach.io has raised since its founders came together at a local startup weekend event.
Ten startups competed at the Apex Challenge, including a few that have had success on the pitch contest circuit, if there is such a thing.Nanoly Bioscience, which is working on a way to preserve vaccines without refrigeration, finished second and took home $2,500, adding to prior successes at events sponsored by Dell and Intel.
