Alabama Launchpad Startup Competition - Cycle A

Description

The purpose of the Alabama Launchpad program is to promote and reward high-growth, innovative ventures that have the potential to grow and thrive in Alabama. The program is for new, independent ventures in the pre-seed, seed, startup or early-growth stages, or for the expansion of an existing business into a new high-growth market.

Alabama Launchpad, a program of the EDPA Foundation requires each team to agree to the following terms and conditions. Disqualification and/or forfeiture of prizes can result for team entries that fail to comply with these eligibility requirements.

Proof of concept project: 
A clearly defined set of tasks necessary to complete, build, validate or advance a startup venture’s technology, service or product. A proof of concept project represents a significant milestone in the startup company’s commercialization process. Potential projects include prototype development and testing, validation studies, beta testing. Acceptable projects advance the startup toward commercialization of its intellectual property rather than strictly funding additional research. Fundable proof of concept projects clearly outlines the translational work needed to bring a start-up’s idea to market.

Website

www.alabamalaunchpad.com

Competition Organizer

Alabama Launchpad

Local US Event
Birmingham, AL
Submission Date

6-01-2014

Business Plan Submission Date

6-29-2014

Awards Date

9-25-2014

Total Prize Cash (US Dollars)

$300,000

Competition Category
  • Business - Local U.S.
  • Technology - Other
Who's Eligible

Business must operate in Alabama. Generally excluded are the following: buy-outs, real estate syndications, tax shelters, franchises, licensing agreements, and spin-outs from existing corporations.

Any external funding received by the startup team must be identified and reported in the program application. Ventures that have raised equity capital totaling $1 million or more from sources other than team members or their friends and families, or that have realized more than $3 million in sales in the 12 months immediately preceding the competition are not eligible. Federal grant awards, including funding from SBIR/STTR programs, are excluded from this restriction.

Important Dates

June 24 - Kick Off event for teams selected to participate in the competition.

Competition Prizes

Cash awards are based on submitted project budgets to be completed that advance startup towards launch or to aid in scaling. Alabama Launchpad does not take an equity position.

Other Info

Each finalist will receive a market assessment ($2000 value).