Morgan, a resident of Hudson, Ohio, and a Purdue alumnus, has started more than 50 companies. Six have become major corporations, including Morgan Adhesives, one of the world's largest makers of pressure-sensitive adhesives. He also is president of Basic Service Co., an idea-development firm, and he has written several books on entrepreneurism. The 1999 competition was narrowed from 45 business plans to 19 in early February. Six of those 19 were selected for the final presentation.
Organizers hope to more than double the amount of prize money for next year.
The past two winning plans are in production and are successful small businesses. The device was developed and patented by two Austrian physicians and has been clinically tested in Europe. The portable product, about the size of a hand-held calculator, measures the effectiveness of pelvic Kegel exercises and can be used in conjunction with medication to treat female patients with urinary incontinence. The Kegel exercise is done by contracting the pelvic muscles and holding the contraction for a certain amount of time. Treatment is limited to Kegel exercises, medication, covering up the problem with adult diapers, or an invasive surgery.