SALISBURY - What happens when medical technology and industrial building inspection collide?
That’s the question Phillip Alvarez, founder of Baltimore-based Perphora, LLC, sought to answer. The company, which focuses on improving technology traditionally used for intraocular imaging with software and hardware to improve building coating application quality control, was the big winner of this fall’s Philip E. and Carole R. Ratcliffe Foundation Shore Hatchery entrepreneurship competition, earning a $30,000 grand prize.
Held in person for the first time since 2020 due to COVID-19, this semester’s competition also marked the opening of SU’s new Dave and Patsy Rommel Center for Entrepreneurship at SU Downtown.
Some 13 applicants from throughout the Mid-Atlantic competed for their share of $100,000 in prize money. Other winners included:
In addition to funding, winners and participants also receive mentoring support from the program’s board. Mentors include business leaders such as Chris Perdue of Perdue Farms, Inc.; Mike Cottingham of the Rommel Companies; Kathy Kiernan and Patricia Royak, members of SU’s Franklin P. Perdue School of Business Executive Advisory Council; and Jennifer Layton of Layton’s Chance Vineyard and Winery.
This round’s winners join the program’s 82 previous award recipients, who have self-reported estimated profits of some $76,668,454 million, creating more than 638 jobs.
The Philip E. and Carole R. Ratcliffe Foundation Shore Hatchery program was established with an initial $1 million contribution in 2013. In 2017, the Ratcliffe Foundation announced a second $1 million gift to continue the Shore Hatchery through Spring 2023. It is administered through SU’s Franklin P. Perdue School of Business. Its goal: to fund entrepreneurs and have new businesses opening within six months, with the potential of employing three or more within three years.
Up to $200,000 annually is available for those applying for grants through the Shore Hatchery program. Its board of directors selects recipients based on presentations.
For more information, call 410-546-4325 or www.salisbury.edu/shore-hatchery.