Alabama Launchpad, a part of The Economic Development Partnership of Alabama (EDPA), has announced finalists for its EDGE Incubator and Accelerator award.

The EDGE Incubator and Accelerator is geared toward supporting entrepreneurship and businesses largely in West Alabama.

On Thursday, nine finalists will compete in Tuscaloosa for a combined amount of $75,000 at a public finale.

“Our team at (the University of Alabama) is looking forward to hosting the 2023 Alabama Launchpad event,” said Dr. Theresa M. Welbourne, executive director of the Alabama Entrepreneurship Institute. “We have had numerous teams from UA compete in the event, and being able to host is a great way to bring visibility to more of our students, faculty, staff and community members in the Tuscaloosa area.

“Our entrepreneurship program, overall, has grown considerably over the last few years, and a big reason for that growth is our ability to connect with the state’s resources including the Launchpad program. The team from EDPA has been incredibly supportive and helpful over the years, and we look forward to seeing all of them at The EDGE.”

Alabama Launchpad works with two types of entrepreneurs. The first are those in the “concept stage” who usually have not established regular revenue.

The other group is called the “early seed stage.” This group is generally for those entrepreneurs who want to speed up growth of their already existing businesses.

Alabama Launchpad is the state’s most-active early seed funding source. More than 100 startups have been funded by Alabama Launchpad as well as $6 million being invested in non dilutive funding.

The companies that have won have a combined post-money valuation of more than $1 billion and they have generated more than 1,300 jobs throughout Alabama.

The five concept stage finalists competing for $25,000 are:

• PowerTechs helps energy companies repurpose their workforce to Renewables. Its main competitive advantage is our online simulator-based skills assessment measuring not only practical knowledge but also safety compliance, communication and even work attitudes.
• NanomediGene, LLC focuses on developing nanotechnology and drug delivery systems that improve the quality of life for patients facing chronic diseases. Their first product is a nanoparticle-engineered drug for patients who undergo dialysis, with which they hope to increase surgery success rates and reduce healthcare costs.
• Dani Cheesecake creates gourmet no-bake cheesecake in a jar, offering more than 40 handmade flavors. Based in Opelika, the founder started her company to raise money for her son’s college and has since participated in Auburn’s business accelerator.
• Welcomed Co is a lifestyle brand that enables people of all abilities to live their best lives through innovative, beautifully designed products for accessibility and inclusion, educational content, thoughtful resources and supportive community.
• Cahaba Fire Company develops innovative products for fire departments and first
  responders. Its goal is to produce high-quality, innovative products necessary for emergency responders to do their jobs safer, faster and more reliably.

The four companies in the early seed stage and competing for $50,000, are:

• Sweet Home Spirits seeks to capture the hearts of Alabamians with its branding and product line and evoke a love for one’s home by presenting quality spirits and products with a familiar trope in ‘Sweet Home’.
• Harmony Diagnostics is transforming the way we test for sexually transmitted infections. Its innovative solution offers a cost-effective, rapid and reliable method for testing in the privacy and comfort of one’s home.
• Idyllo helps you execute home improvement projects with professionals you trust. It helps homeowners find local vendors they trust, while also connecting the vendors themselves to a strong, potential customer base.
• Domestique Coffee is a coffee, hospitality and lifestyle brand that is providing Alabama with coffee-based cultural experiences. It believes in “easy access to high quality coffee.” Its vision is to make simple and healthy coffees available for customers

Austen Shipley is a staff writer for Yellowhammer News.