The Fall 2017 round of the Arizona Innovation Challenge (AIC) has concluded as the Arizona Commerce Authority (ACA) today announced six awardees in its semi-annual business plan competition including Arizona biotech companies Life365, Inc. GT Medical Technologies, and Resonea.
The ACA provides $3 million in grants annually to the most qualified, innovative startups and early-stage companies. Each company receives up to $250,000 in capital to grow their business — advancing innovation and technology commercialization opportunities in Arizona.
Companies located anywhere in the world may apply, so long as they plan to establish substantial operations and commercialize their product or service in Arizona if they are awarded an AIC grant.
“Arizona’s early stage companies are making key contributions to the strength of our statewide economy by advancing new technologies, new business models and introducing new forms of competition into the market,” said Sandra Watson, Arizona Commerce Authority President & CEO. “Each of the six Fall 2017 awardees represents the high quality of startups Arizona continues to produce, and we congratulate them on their success!”
The six Fall 2017 Arizona Innovation Challenge awardees were chosen from a list of 10 finalistsannounced Dec. 6. The awardees are:
GT MEDICAL TECHNOLOGIES
GT Medical Technologies, is a bio and life sciences company that creates technologies designed to treat brain tumors.
Life365, Inc, is a bio and life sciences company that provides remote healthcare solutions with through mobile health.
Paradox, LLC is a software company that built an artificial intelligence tool for the recruiting industry.
Renewlogy is a clean technology company developing solutions to prevent landfill-bound waste.
Resonea is a bio and life sciences company that develops sleep disorder diagnostic tools.
Simple WAN is a software company that provides an all-in-one cloud-based networking solution for branch offices, service centers, store and franchises.
The Fall 2017 round attracted 115 eligible applicants. The judges assessed each application against rigorous criteria including technology potential, marketing strategy and quality of management team.
Every applying company that meets the AIC’s eligibility requirements receives constructive feedback generated from the rigorous online evaluation and scoring process. All semifinalists are 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.
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Susan Marie, Arizona Commerce Authority, 602.845.1231 or firstname.lastname@example.org
Mark Scarp, 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. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.