San Diego Business Journal

Plug and Play San Diego chose its third class of accelerator tenants during a pitch contest May 6 at the Co-Merge Workspace in downtown San Diego.

Sixteen companies offered three-minute pitches to judges. Winning companies will receive $25,000 and attend Plug and Play Startup Camp in Silicon Valley between June and September. The camp concludes with a chance to pitch the business to Silicon Valley investors.

In return for the investment and assistance, Plug and Play receives a 5 percent equity stake in the startups.

The five winning startups are:

• Ahorro Libre, from Tijuana, which digitizes the informal rotating credit association system used by many in Latin American countries to pool money for big purchases.

• Brandisty, from San Diego, which offers cloud-based graphic design services for brands.

• Hotelbeat, from San Diego, which offers software to coordinate and streamline maintenance tasks at hotels.

• Locbit, from San Diego, whose software platform aims to make the Internet of Things easily accessible.

• Statim Health, from Denver, which lets consumers get cost estimates for health care procedures