Pittsburgh-based Dynamics, Inc., took the Rice Business Plan Competition’s first place prize of $20,000 in cash and $305,000 in investments and services.
A card-carrying Pittsburgh Technology Council member, Dynamics produces a paper-thin, flexible computer with high processing capabilities and low power requirements. The computer can be laminated into a number of different card-based products. Dynamics’ first product is the Dynamic Credit Card. The card periodically changes a portion of a user’s credit card information – both visually and magnetically. In doing so, the Dynamic Credit Card annually eradicates over $20 billion in credit card fraud and associated costs.
In addition, the company landed the prestigious $100,000 Technology Award from Opportunity Houston, which it can collect only if it moves from Pittsburgh to Houston. (Who wants to live in Houston any way? It’s hot and humid and full of strip malls. Trust me I know firsthand.) Dynamics also won the coveted $125,000 investment prize from the GOOSE Society of Texas.
CNN even did a little write up about Dynamics and the competition. Check it out right here.
I remember Dynamics from back when they were just a CMU Olympus Project PROBE (http://olympus.cs.cmu.edu/probes/dynamics.php).
I’m glad to see them winning business plan competitions and getting additional investment, but where are the stories of local Pittsburgh investors supporting them?
If Texas keeps offering them additional investment conditional on them moving out of Pittsburgh (looks like they’re entering another Texas business plan competition next month), what are we doing to keep them in the area?