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Alabama Launchpad bringing new emphasis on mentorship to 2021 competition cycles

Alabama Launchpad, a fund that invests in Alabama-based startup companies, is heightening its focus on mentoring and supporting young companies in 2021. Launchpad is a program of the Economic Development Partnership of Alabama. Companies receive investments from the fund after a panel of judges determine they are the best among a cycle’s finalists. Over the course of 2020, the competition ran four cycles. In 2021, the program plans to “place a greater focus on intensive and personalized support for the state’s entrepreneurs, boosting all participating companies, regardless of the competition’s outcome,” according to a release. Organizers of Alabama Launchpad solicited feedback from the competition’s judges, winners and finalists, as well as investors and entrepreneurs in the state in creating the new emphasis on coaching to go along with the competitive nature of the event. To read more of the story, go to: yellowhammer news.com/alabamalaunchpad

More 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, Blue Cross and Blue Shield Caring Foundation, Truist Bank, The University of Alabama, Auburn University, The University of Alabama at Birmingham, the Daniel Corporation Foundation. It is the state’s longest running business plan and pitch competition. Over the past 16 years, Alabama Launchpad has invested over $6 million into 116 Alabama startups. The winning startup companies have generated over 1,300 jobs for the state and have a combined post-money valuation of over $1 billion.

More About Our Partner, 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.

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