BIRMINGHAM, Ala. – The annual statewide Alabama Launchpad business plan competition for technology and high-growth ideas has attracted 41 teams to compete in its second season. The University of Alabama has 12 participating teams, the most of any institution.
The Alabama Launchpad is a non-profit organization formed by six of the state’s leading research universities and Alabama’s business community to support entrepreneurship in the state. Three winning teams will later be awarded a total of $175,000 start-up capital plus additional services.
As new teams gear up for three phases of rigorous vetting, they can learn lessons from last year’s winners and judges by tuning in to podcast interviews released by Alabama Launchpad and PointClear Solutions. Included among the Launchpad podcast series are interviews of:
Dr. Mark Byrne – CEO of OcuMedic (2007 Grand Prize Winner of $100,000). OcuMedic developed a new method to treat ocular conditions by using contact lenses as a drug delivery platform to provide a steady release of medication to the eye.
Chris Otto –CEO of Halo Monitoring (2007 Second Place Winner – $50,000). Halo Monitoring (formerly Halo Research) has developed a wearable health monitoring and emergency contact system designed to address healthcare concerns of independently living elderly adults. Halo just recently received its first major round of funding from the Huntsville Angel Network of $280,000 which has helped the company gain even greater momentum.
Aaron Hammons – CEO of IntelCell (2007 Third Place Winner – $25,000). IntelCell has developed a precision cell growth system that increases experimental control and reduces human error.
“These interviews and others are a great resource for Launchpad contestants and entrepreneurs across Alabama. Interested listeners can gain insight into the development and evolution of the business plans of last year’s winners. We’re very pleased and honored to partner with PointClear Solutions on this initiative,” says Glenn Kinstler, director of Alabama Launchpad. The Alabama Launchpad interview series is available online at www.pointclearcast.com.
“Supporting entrepreneurs is the road to the future of a diversified Alabama economy,” says Jim Hayes, president of the Economic Development Partnership of Alabama. “The collaboration of six universities across Alabama made it easy for the business community to support the initial concept of Alabama Launchpad,” Hayes said. “It is tremendous to see new business partners embrace the success of last year’s competition and add value to teams that compete in 2008.” Hayes is also the subject of a podcast interview in this series.
Participants in the second season of the Alabama Launchpad business plan competition have entered the second phase of the competition. A panel of judges will grade each proposal based on 10 specific aspects of the business plan and will narrow the field from 41 initial entries to 20 semifinalists by Dec. 17.
The 20 semifinalists will face another competitive round reducing the field to eight finalists who will take part in the final event on April 12 at the Bryant Conference Center on The University of Alabama campus. At the finale, the final eight will present their business plan to a final panel of judges, university representatives, economic developers and business leaders. Three teams will be awarded a total of $175,000 start-up capital plus additional services.
About Alabama Launchpad
The Alabama Launchpad is a non-profit organization formed by six of the state’s leading research universities and Alabama’s business community to support entrepreneurship in the state. The participating universities are Alabama A&M University, Alabama State University, Auburn University, The University of Alabama, the University of Alabama at Birmingham and the University of Alabama in Huntsville. The Economic Development Partnership of Alabama, known as EDPA, is also a founding member and is a privately funded economic development organization supported by 68 leading companies in the state dedicated to quality economic growth. The goals of Alabama Launchpad are to provide seed financing to high growth businesses on an annual basis, to create a statewide event that brings together various regional and technology-based interests, and to market and promote the economic opportunities for technology development in Alabama.
Web site: http://www.alabamalaunchpad.com/
About PointClear Solutions
Headquartered in Huntsville, with locations in Huntsville and Birmingham, PointClear Solutions is a professional Information Technology services firm delivering software products aimed at solving core business problems, improving the user-customer experience and redefining business by applying technology in innovative ways. The company’s consultants are industry leaders in the use of new and existing technology for business innovation. They have deep expertise in a variety of vertical industries, technologies and consulting methodologies and come from a variety of backgrounds, including science, engineering, software development, design and usability engineering.
Contact
Chris Bryant, Assistant Director of Media Relations, 205/348-8323, cbryant@ur.ua.edu
Source
Glenn Kinstler, director, Alabama Launchpad, 205/943-4709, 205/531-8833 (cell), gkinstler@edpa.org