We’ve all been there. That moment when you feel like a total genius. You’ve just come up with the perfect new business idea. You’re ready to make millions. But then…
Where do you start? Where does the money come from? How do you make it happen? Well, the Alabama Launchpad program might be your answer – but you need to act fast.
ALABAMA LAUNCHPAD BRINGS DREAMS TO LIFE
Alabama Launchpad is a program of the Economic Development Partnership of Alabama. They help startups launch their company while remaining in Alabama. They also support, advocate, and recognize entrepreneurship statewide.
Since 2006, Alabama Launchpad has funded nearly 80 companies across the state, awarding over $4 million in startup capital.
Four times a year, Alabama Launchpad holds a startup competition. Competitors can choose to either enter the concept track or the seed track. The concept track is for businesses that are still in the very early planning stages.
There’s a clear idea of what the business will be, but little has been realized. The business is generating little to no revenue and less than $250k in capital has been raised.
The seed track is designed for businesses that are a little further along in the process. These companies are building customers, have existing teams and customers, and are typically generating revenue.
Top prize for the concept track is $50,000. Sometimes, free office space is also provided. Winners in the seed track take home a whopping $100,000 and the same perks as the concept track.
“The PR that we received from Alabama Launchpad (like this story for example), has been just as valuable as the six-figure prize money check. We also received a solid case study from an industry leader who studied our business as it fits into the marketplace, providing us with solid feedback to apply to our growth roadmap as a company.” – Jim Cavale, CEO of INFCLR, November 2017 Alabama Launchpad Winner
AREA STARTUPS WIN BIG
Two Birmingham startups took home the top prizes at the most recent startup competition finale.
Pointz is a Birmingham-based app company that rewards customers for spending time at local businesses. Businesses can choose to reward customers with discounts, free stuff, or however they choose. This is a nice tool for local business to attract new customers.
This past March, Pointz took home the $50,000 prize for winning the concept track competition.
“Alabama Launchpad has helped Pointz gain exposure, refine our business plan, connect us with mentors, and provide capital to help us grow and create jobs.” – Andrew Petrovics, CEO Pointz, March 2018 winner
O3 Solution is an agile project management tool for industrial construction. Their management tool helps owners set clear expectations of the desired goals and objectives, set accountability measures and standardize best practices across the entire project.
They took home the $100,000 prize for winning the seed track competition in March.
NOW IT’S YOUR TURN!
Could your startup use some help… getting started? Good news – Alabama Launchpad is now accepting applications for Cycle 2 of their startup competition!
If you are looking for some help to grow a genius start-up into a big deal, don’t miss this opportunity. What are you waiting for? Submit your application NOW! The deadline to apply is April 23rd, so act fast!