Arizona Commerce Authority Accepting Applications for Spring 2017 Arizona Innovation Challenge

PHOENIX (Jan. 19, 2017) – The Arizona Commerce Authority (ACA) today announced it has opened the application window for the Spring 2017 Arizona Innovation Challenge, one of the largest business plan competitions in the nation which helps early-stage technology companies scale their innovations.

The ACA commits $3 million annually to the Arizona Innovation Challenge, and in each round of the competition awards as many as six innovative technology ventures up to $250,000 each in non-dilutive capital to grow their businesses. Companies receiving awards are required to commercialize their technologies or scale their businesses in Arizona within the subsequent 12 months of the award.

“The Arizona Innovation Challenge is designed to enhance Arizona’s entrepreneurial ecosystem and technology sector by identifying the companies with the most promising innovations,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Since the inception of the Arizona Innovation Challenge in 2011, we are proud to have built a portfolio of 58 winning companies that are advancing new technologies and creating value in Arizona.”

Applications will be accepted now through February 17, 2017, at 3 p.m. MST. Download the application and submission guidelines by clicking here or visiting: www.azcommerce.com/programs/arizona-innovation-challenge/apply

Potential applicants are encouraged to attend one of three informational workshop sessions the ACA will offer to help companies maximize the competitiveness of their application:

Wednesday, Jan. 25 from 8:30 a.m. – 10:30 a.m.
CO+HOOTS – 221 E Indianola Ave, Phoenix, AZ 85012

Friday, Jan. 27 from 9 a.m. – 11 a.m.
Startup Tucson – 17 E Pennington St, Tucson, AZ 85701

Monday, Jan. 30 from 9 a.m. – 11 a.m.
NACET Incubator Meeting Room – 2225 N. Gemini Road, Flagstaff, AZ 86001

Every applying company that meets the Arizona Innovation Challenge eligibility requirements will receive constructive feedback generated from the rigorous online evaluation and scoring process. These companies will also be given the opportunity to receive a consultation to discuss their business plans and other potential resources to advance their companies. All semifinalists will also be considered for participation in Venture Ready, the ACA’s mentor program that connects early stage companies with high-level CEOs and serial entrepreneurs to further refine their business plans and investor pitches.

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Media Contact: Susan Marie, SVP, Marketing & Communications Arizona Commerce Authority 602.845.1231 or susanm@azcommerce.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: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit azcommerce.com for more information and follow @azcommerce on Twitter.