Local companies named competition semifinalists

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Two Southwest Washington companies are among the 25 "concept stage" companies selected as semifinalists in an Oregon Entrepreneur Network's business competition.

Those companies are Wave Engine Solutions of Camas, which is developing a new engine architecture that has the potential to significantly reduce fuel consumption; and Integrated Cloud Intelligence Inc. of Vancouver, a company that offers market intelligence solutions drawn from combining cutting-edge technologies with effective research methodologies.

The concept stage semifinalists, which are in their early development stage, will compete for prizes and an opportunity to participate in a daylong immersion with investors and business professionals. Several will be selected to practice their pitches to investors in front of a live audience of entrepreneurs and investors.

The business network last week chose 25 semi-finalist companies, including four from Southwest Washington, as "launch stage" companies who are competing for investment funding that could exceed $400,000.