Arizona Commerce Authority Announces Finalists in the Spring 2015 Arizona Innovation Challenge

PHOENIX (June 18, 2014) – The Spring 2015 round of the Arizona Innovation Challenge (AIC) continues as the Arizona Commerce Authority (ACA) today announced 10 finalists in its bi-annual business plan competition, which awards $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 early-stage companies. Recipients receive up to $250,000 in capital to grow their businesses – advancing innovation and technology commercialization opportunities in Arizona. The ACA's engagement with early-stage companies through its suite of targeted programs such as the AIC continues to spur growth and capital investment within Arizona's innovation ecosystem.

The 10 Spring 2015 Arizona Innovation Challenge finalists are as follows:

  • Beacon Biomedical, Bio & Life Sciences, Scottsdale AZ
  • Campus Logic, IT – Software, Gilbert AZ
  • eMoney Pool, IT – Software, Phoenix AZ
  • eVisit, IT – Software, Gilbert AZ 
  • Higgle, IT – Software, Scottsdale AZ
  • NVI Algae, Bio & Life Sciences, Phoenix AZ
  • RBar Energy, Advanced Manufacturing, Tucson AZ
  • Revolution Parts, Inc., IT – Software, Tempe AZ
  • RightBio Metrics, Bio & Life Sciences, Scottsdale AZ
  • Swimlane, IT – Software, Tempe AZ

A panel of expert judges evaluated 138 applications for the Spring 2015 AIC round, from companies based in Arizona, California, Massachusetts, Texas and Wisconsin. Each company was assessed 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. In May 2015, a total of 25 semifinalists were named in this round.

Every applying company that meets the AIC’s eligibility requirements receives constructive feedback generated from the rigorous online evaluation and scoring process. All 25 semifinalists are 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 winning companies later this month.

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Media Contact:
Susan Marie, Marketing & Communications Manager
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. For more information, please visit azcommerce.com.