PHOENIX (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:
|
COMPANY |
INDUSTRY |
CITY |
| Alert GPS Holdings, Corp. | IT – Hardware | Scottsdale, AZ |
| EndoVantage, LLC | Bio & Life Sciences | Paradise Valley, AZ |
| Infra-Tect LLC | Cleantech/Renewable Energy | Chandler, AZ |
| LawLytics | IT – Software | Tucson, AZ |
| NVI Algae Products LLC | Bio & Life Sciences | Phoenix, AZ |
| PanAridus | Advanced Materials/ Bio AG | Casa Grande, AZ |
| Picmonic | IT – Software | Tempe, AZ |
| Serious Integrated | IT – Software | Chandler, AZ |
| Triton Microtechnologies | Advanced Manufacturing | Oro Valley, AZ |
| World View Enterprises Inc | Aerospace/Defense | Tucson, AZ |
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.
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Media Contact:
Joseph Valdez, Director, Communications and Community Affairs
Arizona Commerce Authority
602.845.1234 or josephv@azcommerce.com