Alabama Launchpad unveiled the 10 finalists to participate in Cycle 3 2023.
The finalists will compete for a combined $75,000 at a public finale scheduled to take place Dec. 7 in Hoover.
Alabama Launchpad features entrepreneurs in two stages of development: those in the concept stage, which are usually pre-revenue, and those in the early seed stage, looking to accelerate the growth of their existing businesses. According to Pitchbook, Alabama Launchpad is the state’s most active early-seed funding source. Launchpad is a program of the Economic Development Partnership of Alabama.
“We are eager to see the rapid growth of these 10 companies as they work with our launch advisors in preparation for the in-person pitch finale,” said Miller Girvin, executive vice president of innovation and talent for the EDPA. “Alabama Launchpad provides both the necessary financial support and mentorship to turn ideas and early-stage companies into thriving businesses within the state.”
To date, Alabama Launchpad has funded 115 startups and invested more than $6.2 million in nondilutive funding. Its winning companies have a combined post-money valuation of more than $1 billion, according to the program, and have generated more than 1,300 jobs across the state.
The four concept stage companies competing for $25,000 are:
- OMNIS Inc. DBA LucidTrade of Auburn, which offers a product to merge blockchain tech with traditional banking with a goal of empowering users with peer-to-peer loans and credit-building.
- DevClarity of Birmingham, which is an artificial intelligence-powered platform for developer management, aiming to allow developers to maximize and streamline operations while optimizing resource allocation.
- Revive Recovery Solutions of Birmingham, a wearable opioid overdose detection device and alert system, as well as a data collection company to provide real-time OD information for the fight in the opioid epidemic.
- Score Pharma Inc. of Huntsville, which uses CoreX technology platform to develop next-generation antibody therapeutics from existing clinically validated products. The process intends to create drugs with increased potency, decreased costs and shortened time to market for better patient outcomes.
The six companies in the early seed stage, which will be competing for $50,000, are:
- Autonoma Inc. of Auburn, which creates autonomous vehicle simulation and validation tools. It combines an AV simulator with high-bandwidth, low-latency wireless communications to allow a real vehicle to "see" a virtual environment around it. The goal is to create a safer transition from simulation to on-road operation that is much cheaper and more efficient than current validation methods.
- Dryft Coffee of Birmingham, which is currently operating as a mobile coffee camper along with building its first brick and mortar downtown. Dryft coffee sources its product from women-owned farms and provides a portion of its profits back to the women in its supply chain.
- Datus Henry Industries LLC of Birmingham, which is a family-owned business in the hemp industry, based around products grown on one of the first Alabama Black Belt farms licensed to grow hemp. DHI specializes in the growing CBD sector, offering products in its retail location in Birmingham, and it is expanding into the industrial hemp fiber sector.
- GutChek Inc. of Madison, is the a marketplace that enables patients to self-schedule colonoscopies without an office visit. It deems itself as the "Calendly for colonoscopy."
- Circool of Birmingham, which aims to solve the issue of schools leaving their doors open when hosting large events, allowing easy access for potentially unwanted people. Circool protects schools, children and staff by validating school entry and child pick-up during planned and unplanned events.
- VirtuOwl of Birmingham, which links, facilitates and hosts learning sessions between a school's population of students and certified counselors and educators on its online platform.
Other Alabama accelerators have also recently named cohorts, including the Prosper Healthtech Accelerator, Techstars, the HudsonAlpha AgTech Accelerator and more.
