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Release Date: Jan 02, 2013
ASU is one of six universities involved in running the Alabama Launchpad Start-up Competition, sponsored by the Economic Development Partnership of Alabama.
Registration starts Dec. 12 for the seventh annual Economic Development Partnership of Alabama’s (EDPA) Alabama Launchpad Start-up Competition for teams in the proof of concept stage.
The “pre-seed” team will compete for proof-of-concept grant awards totaling $100,000. Alabama Launchpad, a program started by the EDPA Foundation, is designed to promote, reward and increase the pipeline of high-growth, innovative ventures that have the potential to grow and thrive in the state.
EDPA President Bill Taylor said Alabama Launchpad is aligned with Accelerate Alabama, the state’s larger plan for economic development announced two years ago that focuses on recruitment, retention and renewal.
“This is an important part of the state’s effort to focus on job creation through innovation, entrepreneurship, research and development, and commercialization,” Taylor said. “This competition provides the opportunity to identify and support innovation that has high growth potential.”
Startups interested in applying must complete an online application and pay the $150 application fee. Teams accepted into the competition will be required to submit a business plan formatted and organized to the business plan template guidelines. The deadline for applying is Jan. 13.
Applications, rules and a timeline can be found by visiting www.AlabamaLaunchpad.com.
Four teams from four Alabama universities won proof-of-concept funds during last spring’s competition. Awards were given to:
• ArchPatent, University of Alabama in Huntsville, $24,620
• MicroGreen Technologies, University of Alabama, $30,000
• MilliTherm Technologies, University of South Alabama, $23,600
• Proteomic Profiling Technologies, University of Alabama at Birmingham, $21,780.
Alabama Launchpad is run in cooperation with Alabama State University, The University of Alabama, The University of Alabama at Birmingham, The University of Alabama in Huntsville, Auburn University, and the University of South Alabama. The program is funded in conjunction with a grant from the Alabama Research Alliance and from private sponsorships.
Alabama Launchpad is open to any Alabama startup that meets eligibility requirements. The 2013 Launchpad class will be announced Jan. 31. Participants will be required to submit final business plans by Feb. 17.
About Alabama Launchpad:
Alabama Launchpad is a program of the Economic Development Partnership of Alabama Foundation. This innovative public‐private partnership brings together Alabama's university, business and economic development communities to encourage and support high‐growth entrepreneurship in Alabama. Through a business plan competition that accelerates the development of new ventures, an annual conference, and activities that promote Alabama technologies available for commercialization and licensing, Alabama Launchpad is committed to engaging and developing Alabama's innovation ecosystem.
About the Economic Development Partnership of Alabama:
Formed 20 years ago, the Partnership represents the private sector’s contribution to economic development in Alabama. Fully funded by some 70 leading companies committed to the state’s long‐term economic success, EDPA is a private, nonprofit organization that provides leadership and services that recruit new businesses to the state, retain existing businesses and renew Alabama’s economy by fostering innovation both within existing industries and through the commercialization of new technologies. EDPA provides these critical services through working relationships with the State of Alabama, local communities, institutions of higher education, and partnerships with business and industry. EDPA is a member of the Governor’s Economic Development Alliance.