The bi-annual business plan competition for promising early-stage companies in high-growth industries awards as many as ten recipients up to $150,000 in each round. The companies use the capital to grow their businesses, advance innovation and commercialize technology opportunities in Arizona. Awardees will also receive extensive mentoring and coaching through the ACA’s Venture Ready program.
“Once again, the Arizona Innovation Challenge has attracted some amazing startups that promise to enhance the innovation ecosystem,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “I want to congratulate the semifinalists who were selected to continue on to the next round and wish them the best of luck!”
Additive Implants Inc.
CATS Tonometer, LLC
Delta Thermal, Inc.
Flip Investor, Inc
Force Impact Technologies
Heads Up Health
Innovative Construction Technology
Reglagene Holding, Inc.
Solid State Networks
Of the 94 applications received for the Spring 2019 round, all but two are Arizona companies. Applicants in California and Washington state also entered the competition. Most Arizona applications came from Scottsdale, Phoenix and Tucson.
The judges assessed each application on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact. Every applicant that meets the Challenge’s eligibility requirements receives constructive feedback generated from the rigorous online evaluation and scoring process. Semifinalists will participate in another round of judging, and 15 finalists will be selected to continue on to the next round of the Challenge, of which ten will be selected for awards.
All awardees will participate 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. In order for the awardees to receive all of their grant funding, they will be required to successfully graduate from Venture Ready within 12 months.
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.Related reading: