ARIZONA COMMERCE AUTHORITY ANNOUNCES SEMIFINALISTS IN THE SPRING 2019 ARIZONA INNOVATION CHALLENGE

The Arizona Commerce Authority (ACA) today announced 25 companies were selected as semifinalists in the Spring 2019 round of the Arizona Innovation Challenge.

The bi-annual business plan competition for promising early-stage companies in high-growth industries awards as many as ten recipients up to $150,000 in each round. The companies use the capital to grow their businesses, advance innovation and commercialize technology opportunities in Arizona. Awardees will also receive extensive mentoring and coaching through the ACA’s Venture Ready program.  

“Once again, the Arizona Innovation Challenge has attracted some amazing startups that promise to enhance the innovation ecosystem,” said Sandra Watson, President, and CEO of the Arizona Commerce Authority. “I want to congratulate the semifinalists who were selected to continue on to the next round and wish them the best of luck!”

The 25 Spring 2019 Arizona Innovation Challenge Semifinalists include: 

Of the 94 applications received for the Spring 2019 round, all but two are Arizona companies. Applicants in California and Washington state also entered the competition. Most Arizona applications came from Scottsdale, Phoenix, and Tucson.

The Spring 2019 semifinalist companies represent the following high-value sectors:

The judges assessed each application on a set of criteria including technology potential, marketing strategy, quality of management team and economic impact. Every applicant that meets the Challenge’s eligibility requirements receives constructive feedback generated from the rigorous online evaluation and scoring process. Semifinalists will participate in another round of judging, and 15 finalists will be selected to continue on to the next round of the Challenge, of which ten will be selected for awards.

All awardees will participate 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. In order for the awardees to receive all of their grant funding, they will be required to successfully graduate from Venture Ready within 12 months.

*This article first appeared on Arizona Commerce Authority. To read the full article, click here.