Waltham, MA and Spring House, PA (February 14, 2008) – Advanta Corp. (NASDAQ: ADVNB; ADVNA) announced last night that Naomi Bar-Yam of Newton, MA has been named January’s $10,000 ideablob.com monthly contest winner for the best business idea. Bar-Yam is co-founder of the Boston-based Mother’s Milk Bank of New England, a newly-formed milk bank serving babies, hospitals and families throughout New England.
Bar-Yam received the award from Ami Kassar, Advanta’s Chief Innovation Officer, at an award ceremony sponsored by Brandeis University’s IT Entrepreneur Club in Waltham. Bar-Yam and Kassar are Brandeis University graduates.
Bar-Yam garnered the support of the ideablob community for her idea to create a milk bank that would provide screened and pasteurized breast milk to premature and critically ill babies in the New England area. According to Bar-Yam, studies show that premature babies who receive banked milk are far less likely to suffer life-threatening complications and have much faster recovery rates.
“Our milk bank is in the startup stage and ideablob helped us get the word out,” explained Bar-Yam. “The $10,000 prize will enable us to purchase equipment and educate the community about what we do and how we will help premature and sick babies.”
Ideablob.com is a vibrant and active community where small business owners and entrepreneurs are sharing business ideas in exchange for feedback, advice and votes from the community. Advanta, one of the nation’s largest credit card issuers (through Advanta Bank Corp.) in the small business market, awards a $10,000 monthly prize to the best eligible idea, as determined by the votes of the ideablob community. To date, Advanta has paid out prize money to a Chicago-based software developer, a Philadelphia-based non-profit founder and a New York-based social entrepreneur.
“This month the ideablob community has voted a hard-working, social entrepreneur as its winner,” said Kassar. “As a result of participating in our community, Bar-Yam’s idea has been the subject of hundreds of blogs and she has received a tremendous amount of valuable advice and encouraging comments from fellow blobbers.”
Bar-Yam was one of eight finalists competing for January’s $10,000 prize. The eight finalists who will compete for February’s $10,000 contest prize will be announced on ideablob.com on February 22, and the ideablob community will have approximately one week to vote for February’s best business idea. To review the ideas submitted by past ideablob winners, please visit www.ideablob.com.
There is no purchase necessary to enter the ideablob.com contest. Contest began on 9/24/07 at 12:00:00 am CT and ends on 3/31/08 at 11:59:59 pm CT. Open to legal residents of the 50 U.S. states and D.C. who are of the legal age of majority in their state of residence at the time of entry. Void where prohibited. Official Rules are available online at www.ideablob.com. Sponsored by Advanta Bank Corp., PO Box 30715, Salt Lake City, UT 84130-0715.
* ideablob.com and ideablob are service marks owned by Advanta Bank Corp.
About Advanta
Advanta is one of the nation’s largest credit card issuers (through Advanta Bank Corp.) in the small business market today. Advanta’s exclusive focus on this market, as well as its size, experience and commitment to developing meaningful product offerings and a high level of service tailored to the needs of small businesses, differentiate the company from other issuers. Founded in 1951, Advanta has long been an innovator in developing and introducing many of the marketing techniques that are common in the financial services industry today. Learn more about Advanta at www.advanta.com.
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