The Arizona Commerce Authority (ACA) has announced 25 semifinalists in its Fall 2014 Arizona Innovation Challenge (AIC), a bi-annual business plan competition awarding $3 million annually to talented entrepreneurs.
Each year, the ACA awards – $1.5 million in the spring and $1.5 million in the fall – to the most qualified, innovative startups and early-stage companies. Recipients receive up to $250,000 in capital to grow their businesses, advancing innovation and technology commercialization opportunities in Arizona.
“We congratulate the forward-thinking entrepreneurs selected as our newest AIC semifinalists,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Arizona’s engagement with early-stage companies through its suite of targeted programs continues to spur growth, technology commercialization and capital investment within Arizona’s innovation ecosystem. With more than 1,200 applications received for the AIC since 2011, the program continues to be among the many opportunities available to innovators which have made Arizona a top hub for entrepreneurial activity and startup success.”
The 25 Fall 2014 Arizona Innovation Challenge Semifinalists include The following members of Arizona’s Life Science Community:
- Dermspectra, LLC, Tucson, AZ
- Iron Horse Diagnostics, Inc., Scottsdale, AZ
- NuvOx Pharma, Tucson, AZ
- RightBio Metrics , Scottsdale, AZ
- Salutaris Medical Devices, Inc., Tucson, AZ
- Universal Bio Mining , Tucson, AZ
A panel of expert judges evaluated 154 applications from the Fall 2014 AIC submitted by companies based in Arizona, California, Colorado, New Mexico, Ohio, West Virginia, and Virginia. The judges assessed each application on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact. These companies represent high-value industry sectors that include IT software, IT hardware, bio and life sciences, cleantech/renewable energy, advanced materials, advanced manufacturing, and aerospace and defense.
Every applying company that meets the AIC’s eligibility requirements will receive constructive feedback generated from the rigorous online evaluation and scoring process. All semifinalists also will be considered for participation in Venture Ready, the ACA’s mentor program that connects early stage companies with high-level CEOs to further refine business plans and investor pitches.
The ACA will name its Fall 2014 Arizona Innovation Challenge finalists in early January and the winners later that same month.
Susan Marie, Manager, Marketing and Communications
Arizona Commerce Authority
602.845.1231 or firstname.lastname@example.org
Joseph Valdez, Director, Communications and Community Affairs
Arizona Commerce Authority
602.845.1234 or email@example.com
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit azcommerce.com for more information. For more on the Arizona Innovation Challenge, visit azinnovationchallenge.com.