BIRMINGHAM, Ala. (August 16, 2024) – Two startup companies competed in a field of eight finalists to earn a combined $75,000 in non-dilutive funding in the Alabama Launchpad Cycle 2 2024 Finale. Alabama Launchpad, a program of the Economic Development Partnership of Alabama (EDPA), partnered with Innovate Alabama to host the finale at The University of Alabama in Huntsville’s Invention to Innovation Center (I2C) on Thursday, August 15, 2024.
NephSol, Inc., co-founded by Olivia Bruno and Sydney Ringold, claimed $25,000, winning the concept stage. NephSol, Inc. is revolutionizing dialysis care with its headset designed to monitor cerebral blood flow during treatments. The company aims to reduce severe side effects and mortality rates associated with dialysis due to decreased blood flow in the brain.
“Winning Alabama Launchpad is the next big step for our company,” Ringold said. “It means we will be able to complete our regulatory process filings – a step needed for a medical device company. We are beyond excited to finally check that off, move forward, and potentially go to market very quickly.”
Zone Protects, founded by Brian Baer, won the early seed stage prize of $50,000. The company creates safe and effective Picaridin insect repellents – 12-hr, non-oily protection against ticks, mosquitoes, and more. Zone also provides pet protection and hunting-related products for the passions people love.
“Alabama Launchpad has been such an awesome experience,” Baer said. “With all of this experience, we are going to make Zone Protects a national brand – right here from North Alabama.”
Each finalist company received two months of intensive mentorship, through both one-on-one and group session training with startup founders and business experts, to prepare for the finale judging panels.
The early-seed stage companies were evaluated by three judges: Lisa Davis Mays, Chief Executive Officer of The Catalyst Center for Business & Entrepreneurship; James Wessel, Chief Executive Officer at Brindlee Mountain Fire Apparatus; and Sierra Pena, Director of the GBeta Accelerator at gener8tor.
“I think that the general enthusiasm and spirit of the entrepreneurs witnessed at Alabama Launchpad is so contagious,” Mays said. “When you are sitting there watching these pitches, you realize they are creating genius concepts that are not only going to make Alabama a better place but the world a better place. It is exciting for the future of Alabama’s entrepreneurial landscape.”
The concept stage competition included a panel of three judges: Kannan Grant, Director of Tech Transfer at The University of Alabama in Huntsville; Benzamin Choi, Chief Executive Officer at Alabama Capitol Network; and Toni Eberhart, a Strategic Communications Consultant at Booz Allen Hamilton.
“I am incredibly thankful for Launchpad and the rest of the team,” said Choi. “Not just for the challenging work they do in preparing for these events, but for the real work required leading up to the event, in terms of serving founders and the wider community. Launchpad is the cornerstone of Alabama’s innovative ecosystem.”
Alabama Launchpad has now funded 121 Alabama startups since its inception in 2006. Over the past 17 years, Alabama Launchpad has awarded over $6 million in non-dilutive funding to the winning companies, which today have an estimated combined post-money valuation of more than $1 billion and employ more than 1,400 people.
Alabama Launchpad is conducted in partnership with Innovate Alabama, which implements programs and policies that support Alabama’s innovation ecosystem. Through these efforts, Innovate Alabama empowers entrepreneurs, business owners and students to build a business, a career, and a life in Alabama.
“Partnering with Alabama Launchpad is a mission-aligned opportunity for Innovate Alabama to help entrepreneurs and small businesses get the resources they need to grow,” said Cynthia Crutchfield, CEO of Innovate Alabama. “I was thrilled to see such bright concepts and innovative businesses pitched for real, non-dilutive funding. These investments are crucial in fostering a thriving entrepreneurial ecosystem and will undoubtedly strengthen Alabama’s economy of the future.”
Alabama Launchpad is also funded in part by grants from the Innovate Alabama and the Appalachian Regional Commission (ARC), as well as private foundations like Alabama Power, Truist, Blue Cross and Blue Shield of Alabama’s Caring Foundation, Wells Fargo.
The Alabama Launchpad program has funded growing companies like Autonoma, Croux, Cheeriodicals, Immediate and more by offering non-dilutive prize money for its startup competition. The EDPA is a private, nonprofit organization that supports business recruitment and expansion efforts in Alabama and promotes innovative and emerging startup companies through its Alabama Launchpad program.
The Alabama Launchpad Cycle 3 2024 applications will open August 21, 2024. To learn more please click
here.
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. It is the state’s longest running business plan and startup competition. Over the past 17 years, Alabama Launchpad has invested over $6 million into 121 Alabama startups. The winning startup companies have generated over 1,400 jobs for the state and have a combined post-money valuation of over $1 billion.
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 in the Alabama Innovation Commission’s report, including smart policy solutions that will create a more resilient, inclusive, and robust economy to still be 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.
###
