Arizona Commerce Authority Announces Fall 2017 Arizona Innovation Challenge Awardees

Arizona Commerce Authority | Dec. 21, 2017

The Fall round of the Arizona Innovation Challenge (AIC) has concluded as the Arizona Commerce Authority (ACA) today announced six awardees in its semi-annual business plan competition.

The ACA provides $3 million in grants annually to the most qualified, innovative startups and early-stage companies. Each company revieves up to $250,000 in capital to grow their business — advancing innovation and technology commercialization opportunities in Arizona.

Companies located anywhere in the world may apply, so long as they plan to establish operations and commercialize their product or service in Arizona if they are awarded the AIC grant.

“Arizona’s early stage companies are making key contributions to the stength of our statewide economy by advancing new business models,” said Sandra Watson, Arizona Commerce Authority President & CEO. “Each of the six Fall 2017 awardees represents the high quality of startups Arizona continues to produce and we congratulate them on their success!”

The six Fall 2017 Arizona Innovation Challenge awardees were chosen from a list of 10 finalists announced Dec. 6. The awaredees are:

Company Industry Location CEO
GT Medical Technologies Bio & Life Sciences Mesa, AZ Matt Likens
Life365, Inc. Bio & Life Sciences Tempe, AZ Kent Dicks
Paradox, LLC IT – Software Scottsdale, AZ Aaron Matos
Renewlogy Cleantech / Renewable Energy Salt Lake City, UT Priyanka Bakaya
Resonea Bio & Life Sciences Scottsdale, AZ Dr. Ruchir Sehra
SimpleWAN IT – Software Phoenix, AZ Erik Knight

 

The Fall 2017 round attracted 115 eligible applicants. The judges assessed each application against rigorous criteria including technology potential, marketing strategy and quality of management team.

Every applying company that meets the AIC’s eligibility requirements receives constructive feedback generated from the rigorous online evaluation and scoring process. All semifinalists are considered for participation 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.

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.

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