Alabama Launchpad, a program of the Economic Development Partnership of Alabama (EDPA) is proud to announce its first cycle of 2023 at The EDGE Incubator and Accelerator, in Tuscaloosa, Alabama, on Thursday, April 20. Nine finalists will compete for a combined $75,000 at a public finale.
Alabama Launchpad features entrepreneurs in two stages of development: those in the concept stage, who are usually pre-revenue, and those in the early seed stage who are looking to accelerate the growth of their existing businesses. According to Pitchbook, Alabama Launchpad is the state’s most active early seed funding source.
To date, Alabama Launchpad has funded 112 startups and invested over $6 million in nondilutive funding. Its winning companies have a combined post-money valuation of over $1 billion and have generated over 1,300 jobs across the state.
The EDGE Incubator and Accelerator is designed to support entrepreneurial collaboration and innovation in the west Alabama region. It offers growing businesses a place to get work done and hosts regular workshops, forums, and informal gatherings for the greater entrepreneurial community.
“Our team at UA is looking forward to hosting the 2023 Alabama Launchpad event,” According to Dr. Theresa M. Welbourne. “We have had numerous teams from UA compete in the event, and being able to host is a great way to bring visibility to more of our students, faculty, staff and community members in the Tuscaloosa area. Our entrepreneurship program, overall, has grown considerably over the last few years, and a big reason for that growth is our ability to connect with the state’s resources including the Launchpad program. The team from EDPA has been incredibly supportive and helpful over the years, and we look forward to seeing all of them at The EDGE.”
The five concept stage finalists competing for $25,000 are:
- PowerTechs helps energy companies repurpose their workforce to Renewables. Its main competitive advantage is our online simulator-based skills assessment measuring not only practical knowledge but also safety compliance, communication and even work attitudes.
- NanomediGene, LLC focuses on developing nanotechnology and drug delivery systems that improve the quality of life for patients facing chronic diseases. Their first product is a nanoparticle-engineered drug for patients who undergo dialysis, with which they hope to increase surgery success rates and reduce healthcare costs.
- Dani Cheesecake creates gourmet no-bake cheesecake in a jar, offering over 40 handmade flavors. Based in Opelika, the founder started her company to raise money for her son’s college and has since participated in Auburn’s business accelerator.
- Welcomed Co is a lifestyle brand that enables people of all abilities to live their best lives through innovative, beautifully designed products for accessibility and inclusion, educational content, thoughtful resources and supportive community.
- Cahaba Fire Company, LLC develops innovative products for fire departments and first responders. Its goal is to produce high-quality, innovative products necessary for emergency responders to do their jobs safer, faster and more reliably.
The four companies in the early seed stage, who will be competing for $50,000, are:
- Sweet Home Spirits seeks to capture the hearts of Alabamians with its branding and product line and evoke a love for one’s home by presenting quality spirits and products with a familiar trope in ‘Sweet Home’.
- Harmony Diagnostics is transforming the way we test for sexually transmitted infections. Its innovative solution offers a cost-effective, rapid and reliable method for testing in the privacy and comfort of one’s home.
- Idyllo helps you execute home improvement projects with professionals you trust. It helps homeowners find local vendors they trust, while also connecting the vendors themselves to a strong, potential customer base.
- Domestique Coffee, LLC is a coffee, hospitality and lifestyle brand that is providing Alabama with coffee-based cultural experiences. It believes in “easy access to high quality coffee.” Its vision is to make simple and healthy coffees available for customers everywhere they go.
To learn more and reserve tickets please click here.
About Alabama Launchpad
Established in 2006, Alabama Launchpad is Alabama’s most active, early-stage seed fund investor, driving innovation and job growth through startup competitions and ongoing mentoring for Alabama entrepreneurs. Alabama Launchpad is made possible by the generous support from the Alabama Department of Economic and Community Affairs, the Alabama Department of Commerce, Blue Cross and Blue Shield Caring Foundation, Wells Fargo, Alabama Power Foundation and the Daniel Corporation Foundation. It is the state’s longest running business plan and pitch competition. To learn more about Alabama Launchpad, please visit www.alabamalaunchpad.com.
About the Alabama Entrepreneurship Institute
A research and outreach center housed within The University of Alabama’s Culverhouse College of Business, the Alabama Entrepreneurship Institute, or AEI, focuses on identifying and empowering nascent entrepreneurs and supporting existing businesses throughout the state. AEI is located in a 26,000 square-foot off-campus work and collaboration center called The EDGE, which is also home to dozens of startups and growth-focused firms.
About the Culverhouse College of Business
The Culverhouse College of Business at The University of Alabama is home to over 9,600 undergraduate and graduate students, 10 research and outreach centers, and a variety of academic programs including the #5 best online master’s program in the country, according to U.S. News & World Report. Over 60,000 alumni have graduated from the College, which was formally established in 1919 and continuously accredited by The Association to Advance Collegiate Schools of Business (AACSB) since 1929.