Finalists have been selected for Alabama Launchpad's Cycle 1 2023.
The finalists will compete for a combined $75,000 at a public finale scheduled to take place April 20 in Tuscaloosa.
Alabama Launchpad features entrepreneurs in two stages of development: those in the concept stage, who are usually pre-revenue, and those in the early seed stage who are looking to accelerate the growth of their existing businesses. According to Pitchbook, Alabama Launchpad is the state’s most active early seed funding source.
To date, Alabama Launchpad has funded 112 startups and invested over $6 million in non-dilutive funding. Its winning companies have a combined post-money valuation of over $1 billion and have generated over 1,300 jobs across the state.
“In its 16th year, Launchpad is proud of the role that it has played within the Alabama startup ecosystem,” said Miller Girvin, executive vice president of innovation and talent at EDPA. “In 2022, winning companies crossed the $1 billion valuation mark, a number that only continues to grow. We look forward to seeing all of our Cycle 1 Launchpad finalists move through this mentorship process, taking their companies to the next level.”
The five concept stage finalists competing for $25,000 are:
- PowerTechs, which helps energy companies repurpose their workforce to Renewables. It leverages an online simulator-based skills assessment to measure practical knowledge and safety compliance, communication and work attitudes.
- NanomediGene LLC, which focuses on developing nanotechnology and drug delivery systems that improve the quality of life for patients facing chronic diseases. Its first product is a nanoparticle-engineered drug for patients who undergo dialysis, with which it hopes will increase surgery success rates and reduce health care costs.
- Dani Cheesecake, which creates gourmet no-bake cheesecake in a jar, offering over 40 handmade flavors. Based in Opelika, the founder started her company to raise money for her son’s college and has since participated in Auburn’s business accelerator.
- Welcomed Benefit Corporation (DBA Welcomed Co), which is a lifestyle brand that enables people of all abilities to "live their best lives through innovative, beautifully-designed products for accessibility and inclusion, educational content, thoughtful resources and supportive community."
- Cahaba Fire Company LLC, which develops innovative products for fire departments and first responders. Its goal is to produce high-quality, innovative products necessary for emergency responders to do their jobs safer, faster and more reliably.
The five companies in the early seed stage, who will be competing for $50,000, are:
- Sweet Home Spirits, which sells quality spirits and products with a familiar trope in 'Sweet Home'.
- Daughters Baking, which specializes in “naked-style” cakes, a style that showcases all the layers of the cake. Based in Birmingham, it offers cakes large and small for all types of events.
- Harmony Diagnostics, which is trying to transform the way sexually transmitted infections are tested for. It aims to offer a cost-effective, rapid and reliable method for testing in the privacy and comfort of one’s home.
- Idyllo, which helps homeowners execute home improvement projects via connecting them with local vendors they trust, while also connecting the vendors themselves to a strong, potential customer base.
- Domestique Coffee LLC, which is a coffee, hospitality and lifestyle brand that is trying to provide Alabama with coffee-based cultural experiences. It believes in “easy access to high-quality coffee.”
