Two Birmingham startups were named as winners in Thursday night’s Alabama Launchpad Startup Competition Finale held at LogiCore Corporation located in Huntsville’s Cummings Research Park.
In the finale, six startups competed in one of two tracks – a concept stage for entrepreneurs launching businesses and a seed stage for entrepreneurs accelerating growth.
Winning the concept track, and a prize of $50,000, was Moovmo, a ridesharing service for wheelchair users. Their mobile app is currently in the development stages and is expected to launch early next year. Founder and CEO Daryl Harris expressed appreciation to the Airship team that traveled to Huntsville to support their client.
The seed stage winner of the $100,000 prize was Neowaste, which converts waste into low sulfur diesel fuel using a patented catalytic conversion process which can produce up to of 260 gallons of fuel from each ton of waste processed. Co-founder and CEO Jessica Findley made the pitch that landed the big award.
Each finalist pitched before a panel of judges and a live audience during the competition finale.
Read more about the competition in Yellowhammer News’ original story here.
Also in attendance were Miller Girvin, CEO of the Alabama Capital Network and Mickey Millsap and Matt Hottle of the Alabama Futures Fund.
After presenting the $50,000 check to Moovmo and the $100,000 check to Neowaste, Angela Wier, Vice President of the Economic Development Partnership of Alabama (EDPA), welcomed all six startups to the growing network of Alabama Launchpad alumni. She encouraged the startups that did not receive funding to work on feedback from the judges and enter the competition again.
“Tonight, you have the opportunity to network with fellow entrepreneurs, investors, and judges. You are surrounded by people who want you to succeed, and who want your company to start, stay and grow in Alabama,” Wier remarked.
Alabama Launchpad alumna Peggy Sammon, CEO of GeneCapture, emceed the event and David Kingsbury, Vice President – Client Relations of Biztech, moderated a panel of Huntsville-based Launchpad alumni, including Alton Reich, CEO of Vital Metrix; Jeff Hammock, Founder and CEO of MechOptix; and Miranda Bouldin Frost, President and CEO of LogiCore.
Since its inception in 2006, Alabama Launchpad has invested over $4.5 million in companies that have created more than 500 jobs and raised over $70 million in follow-on capital and revenue. Alabama Launchpad is the most active early-stage investor in Alabama, according to PitchBook, which tracks the public and private equity markets.
Alabama Launchpad is a public-private partnership made possible through support from the business community, the state’s research universities, the Alabama Research Alliance, the Alabama Department of Commerce and the Appalachian Regional Commission.
Now in its 28th year, the non-profit EDPA represents the private sector’s contribution to economic development in Alabama. EDPA is supported by more than 60 partners from across the state and works to attract, retain and grow jobs, while also encouraging innovation through its Alabama Launchpad program.
Read more about the EDPA and its important efforts here.
Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn
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