It was a big day for four startups at the Alabama Launchpad Startup Competition Thursday at Lincoln Mill in Huntsville.
Companies from Huntsville, Madison and Florence all took home several thousand dollars after leaders pitched their business strategies to a panel of judges. The biggest winner was Vital Metrix — a Huntsville company looking to provide cardiologists a non-invasive, at-home heart monitoring system for their patients. CEO Alton Reich accepted a $100,000 check from Alabama Launchpad after judges spent approximately one hour deliberating the five proposals. Reich says this money will help speed up clinical trials in hopes of receiving FDA approval.
“It definitely would have been pushed back further [without the money],” Reich explained, “This is probably going to shave three or four months off the whole process.”
Reich says he hopes his company’s product can get FDA approval in 2017. The Economic Development Partnership of Alabama organizes the Alabama Launchpad competition.
MechOptix: $50,000 – This Madison company looks to use sensors and optics to prevent rear-end automobile collisions.
PartCycle: $25,000 – The lone startup representing the Shoals is based out of Florence. It looks to provide an e-commerce marketplace for the auto parts industry.
ACE Creative Engagement – $15,000 – Based in Huntsville, this company looks to help online live video broadcasters better reach multiple platforms.
December 11, 2015