Q: Who is the ideal Alabama Launchpad: Social Impact applicant?
A: Applicants for the Social Impact competition could vary in a number of ways: they could be organized as a benefit corporation, or they could have no idea what that is. They could have been building their businesses and serving their communities for quite a while – or they could have a technology concept that’s not even built yet, but could make an impact far beyond Alabama. We’re looking for companies that can scale, as Alabama Launchpad always has, but with the additional layer of social impact that is very intentional and integral to the operation. evaluation criteria.
Q: How do I qualify for the competition?
A: To qualify as eligible, a business must have (1) raised not more than $1 million in equity capital, and (2) received no more than $2 million in revenue. evaluation criteria.
Q: How will my application be evaluated?
A: Generally speaking, judges will review your application based on these evaluation criteria.
Q: What must be submitted in order to apply?
A: Please review the application page for exact criteria.
Q: What is the difference between concept and seed stage?
A: A concept stage company is generally pre-revenue. Concept stage companies have more than an idea; they often have a prototype or MVP (Minimum Viable Product), and perhaps customers on a trial basis. A company in the concept stage could have revenue if it is a pivot for an existing business.
A seed stage company has revenue and customers, even on a small basis. A seed stage company has a working product. These companies have sometimes raised equity capital at some level or are in the midst of raising equity capital. Remember, in order to be eligible for Alabama Launchpad, a company has to have less than $1 million raised in equity capital.
Alabama Launchpad applicants are responsible for choosing their competition stage. Please note: concept stage winners can go on to apply and win the seed stage competition in a later cycle, but seed stage winning companies cannot compete in the concept stage competition.
Q: Is there a fee to apply?
A: The application fee is $150.00 (Paid through Paypal, credit cards accepted). The application fee is required when you submit your completed application but is not required to begin an application. Application fees offset some of the costs of administering the program and help to ensure that only serious candidates are entering.
Q: What information do I put in the video pitch presentation?
A: Your video should introduce your founding team and explain why you are building the company and the product you’re building. We are not looking for an edited, expensive marketing video. We want to learn more about you and your company in a quick, simple, and personal way.
Q: What should I include in my pitch deck?
A: Please see the deck template included in the application for further details. This deck is meant to guide you on the content included, not its graphical style. Broadly speaking, we are looking for information on your problem, solution, product, traction, revenue model, market size, competitors, competitive advantage, team, and needs.
If you have any other questions, please feel free to contact us at firstname.lastname@example.org.