BIRMINGHAM, Alabama – Registration begins Monday for Alabama Launchpad’s latest contest in which start-up businesses compete for early-stage funding.
It will be the third round of the event this year as the Economic Development Partnership of Alabama increases its frequency in a bid to encourage growth.
“If we are going to realize the impact of creating jobs, we have to invest in promising companies as frequently as possible, so we do not miss out on great opportunities,” Launchpad Programs Director Greg Sheek said in a prepared statement.
The start-ups accepted for the competition will pitch their businesses before a panel of judges, with those that advance to a final round competing for a share of $100,000 in investment funding. The amounts awarded are determined by the businesses’ needs and marketability, EDPA said in a prepared statement.
The applicants that are accepted will be announced Dec. 19.
The event, which was first held seven years ago, is financed by businesses, the state of Alabama and seven universities.