Arizona Commerce Authority Announces Finalists in its Spring 2014 Arizona Innovation Challenge
PHOENIX, AZ (June 16, 2014) — The Arizona Commerce Authority (ACA) today announced 10 finalists in the Spring 2014 Arizona Innovation Challenge (AIC), its 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.
The 10 Spring 2014 Arizona Innovation Challenge finalists include:
Learn more about the finalists: Alert GPS Holdings, Corp.; EndoVantage, LLC; Infra-Tect LLC; LawLytics; NVI Algae Products LLC; PanAridus; Picmonic; Serious Integrated; Triton Microtechnologies; and World View Enterprises Inc.
A panel of expert judges evaluated 135 applications from the Spring 2014 AIC, assessing each 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. In May, a total of 25 semifinalists were named and 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 2014 Arizona Innovation Challenge winning companies later this month.
Joseph Valdez, Arizona Commerce Authority, (602) 845-1234, firstname.lastname@example.org
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.