It wasn't at the gaming tables or slot machines, but some Arkansas college students have won big in Las Vegas.

Teams from the University of Arkansas at Fayetteville and John Brown University took top honors in the second annual Donald W. Reynolds Tri-State Award business plan competition.

Two first-place teams each received $25,000, along with $15,000 for each of two second-place teams, awarded in cash prizes that can be used as start-up capital for their respective businesses. Faculty advisors for each team were awarded $2,500.

The Arkansas teams took first place in both the undergraduate and graduate categories.

Top Honors went to:                                                           

Graduate Division
Tears for Life – University of Arkansas – First Place: $25,000

Hexakit, LLC – Oklahoma City University – Second Place: $15,000

Tears for Life – University of Arkansas – First Place, Elevator Pitch: $1,000

Undergraduate Division
Progressive Solutions – John Brown University – First Place: $25,000

Renephron Pharmaceuticals – University of Oklahoma – Second Place: $15,000

Progressive Solutions – John Brown University – First Place, Elevator Pitch: $1,000

The Donald W. Reynolds Governor's Cup is a statewide undergraduate and graduate business plan competition designed to encourage students in Arkansas, Nevada and Oklahoma to act upon their ideas and talents in order to produce tomorrow's businesses.

The Tri-State Award is the pinnacle of these three statewide business plan competitions. The event was held at Red Rock Casino in Las Vegas, where the top two teams (undergraduate and graduate) from each state compete for cash awards totaling $92,000.

Tri-State Governor’s Cup Award finalists included:

Graduate Division Finalists
Digital Native Learning – University of Oklahoma, Norman

Hexakit, LLC – Oklahoma City University

Northern Nevada Nanotubes – University of Nevada, Reno

Tears for Life – University of Arkansas, Fayetteville

Thanks Bud – University of Arkansas at Little Rock

UACD – University of Southern Nevada

Undergraduate Division Finalists
Carbon Gold – University of Nevada, Reno

Creatively Mine – John Brown University, Siloam Springs, Ark.

DustDown – University of Oklahoma, Norman

Las Vegas Vertical Farms – University of Nevada, Las Vegas
Progressive Solutions – John Brown University, Siloam Springs, Ark.

Renephron Pharmaceuticals – University of Oklahoma, Norman

Since the competition's inception in 2001, over 1500 students, representing 48 universities and colleges throughout Arkansas, Nevada, and Oklahoma, have participated. Winners of each competition are encouraged to start their profit-making ventures with substantial cash prizes and technical assistance.

One of the goals of the competition is to encourage the development and commercialization of ideas and technologies being discovered in universities. Participating students gain access to networks of successful entrepreneurs, lenders and investors, team building opportunities, business planning skills, and media exposure.

The 2009 Donald W. Reynolds Tri-State Awards and the Donald W. Reynolds Governor's Cup in Arkansas, Nevada and Oklahoma have been made possible by a grant from the Donald W. Reynolds Foundation, which is the sole sponsor of the 2009 Donald W. Reynolds Tri-State Awards.

With a vision for promoting entrepreneurship statewide, the Arkansas Economic Acceleration Foundation (AEAF), i2E, and Nevada's Center for Entrepreneurship and Technology manage the competition for their respective states. Each of these organizations is dedicated to the refinement and expansion process of the competition and has since collaborated with many business leaders and community partners to ensure the success of the Donald W. Reynolds Governor's Cup and the 2009 Donald W. Reynolds Tri-State Award through their generous donations.

Click here for more information about the Tri-State Donald W. Reynolds Governor’s Cup competition.

Arkansas' Winning Team Summaries:

Tears for Life – University of Arkansas, Fayetteville -- Tears for Life is a medical diagnostic equipment company that is developing a non-invasive tear test kit that will screen women for breast cancer using proteins found in tears. This will be the core of a profitable portfolio of non-invasive screening tools that could save lives and reduce health care costs. Click here for website.

Progressive Solutions – John Brown University, Siloam Springs, Ark. -- Progressive Solutions’ first product – Higher Hangers – are new, patented, space-saving clothes hangers that reduce clutter and create new closet space by raising garments vertically. Click here for website.