Arizona Commerce Authority Announces Semifinalists in the Spring 2015 Arizona Innovation Challenge
PHOENIX, AZ (May 11, 2015) — The Arizona Commerce Authority (ACA) today announced 25 semifinalists in its Spring 2015 Arizona Innovation Challenge (AIC), a bi-annual business plan competition awarding $3 million annually to talented entrepreneurs.
Each year, the ACA awards – $1.5 million in the spring and $1.5 million in the fall – to the most qualified, innovative startups and early-stage companies. Recipients receive up to $250,000 in capital to grow their businesses, advancing innovation and technology commercialization opportunities in Arizona.
Arizona's engagement with early-stage companies through its suite of targeted programs continues to spur growth, technology commercialization and capital investment within the state's innovation ecosystem. With more than 1,400 applications received for the AIC since 2011, the program continues to be among the many opportunities available to innovators which have made Arizona a top hub for entrepreneurial activity and startup success.
The 25 Spring 2015 Arizona Innovation Challenge Semifinalists include:
|Beacon Biomedical||Bio & Life Sciences||Scottsdale, AZ|
|CampusLogic||IT - Software||Gilbert, AZ|
|Crowd Mics||IT - Software||Mesa, AZ|
|eMoneyPool||IT - Software||Phoenix, AZ|
|Energy Conservation Management||Cleantech/Renewable Energy||Scottsdale, AZ|
|Eventinterface||IT - Software||Scottsdale, AZ|
|eVisit||IT - Software||Gilbert, AZ|
|EZ Dump Commercial||Advanced Manufacturing||Phoenix, AZ|
|Higgle||IT - Software||Scottsdale, AZ|
|Infra-Tect, Inc.||Advanced Manufacturing||Tempe, AZ|
|iTel||IT - Software||Scottsdale, AZ|
|Keasy Lock||IT - Hardware||Phoenix, AZ|
|Matrix Medical Tracking Systems||IT - Hardware||New Berlin, WI|
|NextPotential||Cleantech/Renewable Energy||Phoenix, AZ|
|Numa Tactical Eyewear||Advanced Materials||Phoenix, AZ|
|NVI Algae||Bio & Life Sciences||Phoenix, AZ|
|Outski||IT - Software||Tucson, AZ|
|RBar Energy||Advanced Manufacturing||Tucson, AZ|
|RevolutionParts, Inc.||IT - Software||Tempe, AZ|
|RightBio Metrics||Bio & Life Sciences||Scottsdale, AZ|
|Sentinel Internet Systems||IT - Software||Phoenix, AZ|
|Smart Armor||IT - Software||Tempe, AZ|
|Swimlane||IT - Software||Tempe, AZ|
|VisionGate||Bio & Life Sciences||Phoenix, AZ|
|WIQ Pinnacle||IT - Software||
A panel of expert judges evaluated 138 applications from the Spring 2015 AIC submitted by companies based in Arizona, California, Massachusetts, Texas and Wisconsin. The judges assessed each application on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact. These companies represent high-value industry sectors that include IT software, IT hardware, bio and life sciences, cleantech/renewable energy, advanced materials, advanced manufacturing, and aerospace and defense.
Every applying company that meets the AIC’s eligibility requirements will receive constructive feedback generated from the rigorous online evaluation and scoring process. All semifinalists also will be considered for participation in Venture Ready, the ACA’s mentor program that connects early stage companies with high-level CEOs to further refine business plans and investor pitches.
The ACA will name its Spring 2015 Arizona Innovation Challenge finalists in June and the winners later that same month.
Susan Marie, Arizona Commerce Authority, (602) 8451-1231, email@example.com
Joseph Valdez, Arizona Commerce Authority, (602) 8451-1234 or firstname.lastname@example.org
About Arizona Innovation Challenge (AIC)
The AIC is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies, up to $250,000 in grant funding capital to grow their businesses – ultimately advancing innovation and technology commercialization opportunities in Arizona. The ACA commits $3 million annually to the Arizona Innovation Challenge — $1.5 million awarded in both the spring and the fall. Companies receiving awards will be required to commercialize their technology in Arizona and generate revenue within the following 12 months. For more on the Arizona Innovation Challenge, visit azinnovationchallenge.com.
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create – attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.