BIRMINGHAM, Ala. (October 4, 2023) - Alabama Launchpad, a program of the Economic Development Partnership of Alabama (EDPA), in partnership with Innovate Alabama, is proud to announce that Launch Advisors have selected 10 finalists to participate in Cycle 3 2023. The finalists will compete for a combined $75,000 at a public finale scheduled to take place December 7, 2023, in Hoover, Alabama.
Alabama Launchpad features entrepreneurs in two stages of development: those in the concept stage, which are usually pre-revenue, and those in the early seed stage, looking to accelerate the growth of their existing businesses. According to Pitchbook, Alabama Launchpad is the state’s most active early seed funding source.
“We are eager to see the rapid growth of these ten companies as they work with our Launch Advisors in preparation for the in-person pitch finale,” stated Miller Girvin, Executive Vice President of Innovation & Talent at EDPA. “Alabama Launchpad provides both the necessary financial support and mentorship to turn ideas and early-stage companies into thriving businesses within the state.”
To date, Alabama Launchpad has funded 115 startups and invested over $6.2 million in nondilutive funding. Its winning companies have a combined post-money valuation of over $1 billion and have generated over 1,300 jobs across the state.
The following 10 finalists were selected from a competitive field of applicants and represent four cities across the state.
The four concept stage companies competing for $25,000 are:
OMNIS Inc. DBA LucidTrade (Auburn, AL) offers a product to revolutionize finance by merging blockchain tech with traditional banking - empowering users with peer-to-peer loans, credit-building and seamless transactions.
DevClarity (Birmingham, AL) is an AI-powered platform for proactive developer management. With DevClarity, developers are able to maximize and streamline operations, while optimizing resource allocation.
Revive Recovery Solutions, LLC (Birmingham, AL) is a wearable opioid overdose detection device and alert system. It is also a data collection company to provide real-time OD information for the fight in the opioid epidemic.
Score Pharma, Inc. (Huntsville, AL) uses CoreX technology platform to develop next-generation antibody therapeutics from existing clinically validated products. This process can create drugs with increased potency, decreased costs and shortened time to market for better patient outcomes.
The six companies in the early seed stage, which will be competing for $50,000, are:
Autonoma, Inc. (Auburn, AL) creates autonomous vehicle simulation and validation tools. It combines an AV simulator with high-bandwidth, low-latency wireless communications to allow a real vehicle to "see" a virtual environment around it. This allows for a safer transition from simulation to on-road operation and is much cheaper and more efficient than current validation methods.
Dryft Coffee (Birmingham, AL) is currently operating as a mobile coffee camper – but is also building its first brick & mortar in downtown Birmingham. Dryft coffee sources its product from women-owned farms and provides a portion of its profits back to the women in their supply chain.
Datus Henry Industries, LLC (DHI) (Birmingham, AL) is a family-owned business in the hemp industry, based around products grown on one of the first Alabama Black Belt farms licensed to grow hemp. DHI specializes in the growing CBD sector, offering products in its retail location in Birmingham, and it is expanding into the industrial hemp fiber sector.
GutChek, Inc. (Madison, AL) is the first marketplace that enables patients to self-schedule colonoscopies without an office visit. It deems itself as the "Calendly for Colonoscopy".
Circool (Birmingham, AL) realizes that today, most schools leave their doors open when hosting large events, allowing easy access for potentially unwanted people. Circool protects schools, children and staff by validating school entry and child pick-up during planned and unplanned events.
VirtuOwl (Birmingham, AL) links, facilitates and hosts learning sessions between a school's population of students and certified counselors & educators --- all on its online platform.
Alabama Launchpad’s Cycle 3 2023 finale will take place on Thursday, Dec. 7, in Hoover, AL. Location TBD.
About Alabama Launchpad
Established in 2006, Alabama Launchpad is Alabama’s most active, early-stage seed fund investor, driving innovation and job growth through startup competitions and ongoing mentoring for Alabama entrepreneurs. Alabama Launchpad is made possible by the generous support from Innovate Alabama, the Alabama Department of Economic and Community Affairs, the Alabama Department of Commerce, Truist, Blue Cross and Blue Shield Caring Foundation, Wells Fargo, Alabama Power Foundation and the Daniel Corporation Foundation. It is the state’s longest running business plan and pitch competition. To learn more about Alabama Launchpad, please visit www.alabamalaunchpad.com.
About Innovate Alabama
Innovate Alabama is Alabama’s first statewide public-private partnership focused on entrepreneurship, technology and innovation with a mission to help innovators grow roots here in Alabama. Innovate Alabama was established to implement the initiatives and recommendations set forth in the Alabama Innovation Commission’s report, including smart policy solutions that will create a more resilient, inclusive and robust economy to remain competitive in a 21st-century world. With founding CEO Cynthia Crutchfield leading the charge, Innovate Alabama is also made up of a board of 11 innovation leaders appointed by Gov. Ivey, collaborating across sectors to advance industries, drive technology and facilitate an environment where innovation and entrepreneurship thrive. Learn more about Innovate Alabama at www.innovatealabama.org.