Two Birmingham-based startups won a combined $75,000 in the Alabama Launchpad Cycle 1 2023 Finale.
Alabama Launchpad partnered with Innovate Alabama to host the finale at The EDGE on April 20.
Domestique Coffee claimed $50,000, winning the early-seed stage competition. Domestique, founded by brothers Nathan and Michael Pocus in 2014, is a coffee, hospitality and lifestyle brand with specialty coffee at several brick-and-mortar locations in Birmingham as well as through wholesale offerings.
“Winning Launchpad will allow us to finalize our mobile user app that we’ve been developing, and it’s going to take our business to the next level,” said Nathan Pocus. “Now, we’re going to be able to really unify all of our sales channels into one, easy-to-use mobile user app and start to fulfill our customer’s needs of easy access to high-quality coffee.”
It is Domestique's third time participating in the accelerator, and Pocus added that perseverance is key.
Cahaba Fire Co., founded by Ryan King and Ben Horton, won the concept stage prize of $25,000. The company develops products for fire departments and first responders in order to expand first responders’ capabilities to get the job done more safely, quickly and reliably.
“I believe this win is going to launch us off the Launchpad,” King said. “The advisers, the whole process – it was amazing. We are so much further, just by working alongside our Launch Advisors alone, than we thought we would be. It was a success before we won, and this $25,000 is icing on the cake. It will boost us right where we need to be with production.”
Each of the nine finalist companies received intensive mentorship through both one-on-one and group session training with Launch Advisors to prepare for the finale judging panels.
The early-seed stage companies were evaluated by three judges: Patrick J. Murphy, Goodrich Chair and professor at the University of Alabama at Birmingham; Will Wright, head of innovation at Protective Life and founding partner at Wright Strategies, LLC; and Gordon G. Martin, retired senior vice president of corporate and administrative services at Alabama Power Co.
The concept stage competition included a panel of three judges: Amelia (Amy) Degenkolb, CEO and co-founder at Novocuff; Charles Jackson, innovation project manager at Alabama Power Co.; and Jonathan E. Smith, CPA, founder and owner of B.A.T. Solutions LLC.
Alabama Launchpad has now funded 114 Alabama startups since its inception in 2006. Over the past 16 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 1,300 people.
Alabama Launchpad is funded in part by grants from the Alabama Department of Commerce and Alabama Department of Economic and Community Affairs, as well as private foundations like Truist, Blue Cross and Blue Shield of Alabama’s Caring Foundation and Wells Fargo.
The Alabama Launchpad program has funded growing companies like TaxxWiz, CHONEX, Vulcan Line Tools, Immediate and more by offering non-dilutive prize money for its pitch 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 2 2023 applications are now open, and the deadline to apply is May 15.
