BIRMINGHAM, Alabama — Five teams will receive a share of $135,000 in prize money in the Alabama Launchpad entrepreneurial contest, the Economic Development Partnership of Alabama Foundation announced today.
The competition’s finale was held today, and seven finalist teams pitched their startup business ideas to judges.
The competition promotes, rewards and increases the pipeline of high-growth, innovative ventures in the state. The EDPA Foundation launched the program in 2006.
The following teams won a share of the prize money:
Bidsters LLC: Bidsters, based in Tuscaloosa with a University of Alabama affiliation, is an online interactive database for personnel to efficiently connect, communicate and collaborate on project bids: $16,000
Complexity Engine: Complexity Engine, based in Madison with a University of Alabama in Huntsville affiliation, turns the internet into a textbook by identifying signal, eliminating noise and adjusting volume to levels that are “just right”: $35,000
Paperless PCS LLC: Paperless PCS, based in Vestavia Hills, is a web platform that streamlines the often painful process of collecting Medicare-required billing documents for ambulance companies by incorporating e-sign and document management technology: $24,000
Alabama Thermoelectric Generation: Thermoelectric Generation, based in Birmingham, provides solid state solutions for aviation applications: $30,000
Suture Health Inc: Suture Health, based in Birmingham, enables doctors to e-sign through its Suture Sign platform all orders in one place, reducing agency cost and speeding cash flow: $30,000
Today’s finale was the culmination of the “Proof of Commercial Relevance” first-round competition that began with 12 startup teams on Jan. 24.
Alabama Launchpad is preparing for a second “Proof of Commercial Relevance” competition. Registration to compete begins May 1, and the deadline is June 1.
March 21, 2014