Reviewed by: Pat Byington
Meet 3 Birmingham entrepreneurs mentoring Alabama startups
Reading time: 5 minutes
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Since its inception in 2006, the Alabama Launchpad Startup Competition has coached Alabama’s best and brightest entrepreneurs to grow their game-changing startups. During each competition, participants receive valuable mentoring from the program’s Launch Advisors—entrepreneurs with years of experience.
We spoke with 3 Alabama entrepreneurs serving as Launch Advisors for Alabama Launchpad to learn more.
About Alabama Launchpad
Established 17 years ago by the Economic Development Partnership of Alabama (EDPA), Alabama Launchpad is a program that drives innovation and the job growth by investing in promising startups from all over the state. Since its inception, Alabama Launchpad has invested over $6 million in non-dilutive funding in 112 startups. Today, those investments have generated over 1,300 jobs in Alabama and have a combined post-money valuation of over $1 billion.
In 2021, Alabama Launchpad introduced several changes to the program, including the addition of Launch Advisors. These Launch Advisors are experienced entrepreneurs who offer robust one-on-one mentorship in areas like business operations, planning and pitch preparation for the final competition.
To learn more, we met with three Launch Advisors selected for the upcoming Alabama Launchpad Cycle 1 2023 Finale.
Introducing Three Launch Advisors
1. Matthew Jaeh
Matthew Jaeh is a mentor, advisor and entrepreneur in Birmingham. In 2008, Matthew co-founded ProctorU—an edutech company that enables people to take tests over the internet—and spent the next decade pouring his heart and soul into the company. In 2020, Matthew and his team sold ProctorU for over half a billion dollars—now, he’s helping advise the latest generation of Alabama entrepreneurs.
What opportunities does Alabama Launchpad offer to entrepreneurs?
“Alabama Launchpad provides a very unique opportunity for anyone that has the desire to dream big and work hard. Providing an early stage start-up/company with this level of visibility, mentor assistance alone is incredibly increases the probability of success. The non-dilutive funding is like icing on the cake.”
Matthew Jaeh
How does Alabama Launchpad support the entrepreneurial ecosystem in the state?
“Alabama Launchpad provides incredible value to the state, by providing visibility. There is a lot of opportunity in the South—especially in Alabama. This visibility helps to attract others companies, talent and resources to the state. In addition, the state benefits from the creation of successful businesses. Aside from the visibility, mentorship and funding, Alabama Launchpad provides inspiration to take that leap to make that dream real. Sometimes, that first step is the hardest and Alabama Launchpad shows that anyone has the potential to do it.”
Matthew Jaeh
2. Stephanie Pearl
Stephanie Pearl is a coach, facilitator, trainer and founder of Adaptive Roots Consulting. Through her work, Stephanie helps individuals in the sciences to lead high-performance teams and lead fulfilling, impactful careers.
How will you utilize your experience to mentor the next cohort of Alabama Launchpad finalists?
“My background is in plant genomics research, science communication, and Federal research administration. I work with Launchpad finalists to translate their technical work in a way that is easily understood and relatable to the judging panel. I also connect Launchpad finalists with individuals in my network who may be able to support the scientific and technical development of their work or navigate Federal funding opportunities.”
Stephanie Pearl
What opportunities can Alabama Launchpad offer to entrepreneurs and startups in Alabama?
“To me, Alabama Launchpad is a clear signal of a growing movement of innovators in the state of Alabama. These individuals improve the quality of life for individuals within the state of Alabama and result in a positive economic return on investment for their communities. And as an entrepreneur myself, I realize how important it is for startups to be able to access capital that will enable them to grow, scale, and ultimately become successful. I continue to be inspired to help as a Launch advisor because I find it fulfilling and energizing to support budding innovators who can make a positive difference in individuals’ lives through their work.”
Stephanie Pearl
3. Cecil Bostany
After more than 43 years in his field—including 30 years advising high-growth entrepreneurial startup companies—Cecil Bostany has retired as a practicing CPA. Instead, he’s passing along his wisdom and expertise to startups participating in the Alabama Launchpad competition.
How will you utilize your experience to mentor the next cohort of Alabama Launchpad finalists?
“From all my years in my public accounting practice, there are few areas of finance, accounting and tax services that I do not have experience in. With Alabama Launchpad, I am able to use my expertise to offer suggestions and potential solutions to commonly-faced challenges encountered by entrepreneurs.
Cecil Bostany
What part of the Alabama Launchpad process are you most looking forward to?
“While I really enjoy the finale, my favorite part is getting to know the participants, learning about their venture dreams and goal and helping them be successful. There are participants from prior cycles/years that I continue to hear from and that is very special to me.”
Cecil Bostany
Don’t miss the next cycle of Alabama Launchpad
See these Launch Advisors and the participants in the Alabama Launchpad Cycle 1 2023 finale on Thursday, April 20th! Click here to visit the Alabama Launchpad website, learn more and stay up-to-date on upcoming programs.
Are you planning to apply for the Alabama Launchpad Startup Competition? Tag us @bhamnow and let us know!
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