The Spring 2015 round of the Arizona Innovation Challenge culminated today as the Arizona Commerce Authority announced the six winning companies. These grant recipients represent early-stage Arizona companies that are creating innovative technological solutions with the potential for significant economic impact.
The Spring 2015 Arizona Innovation Challenge Grant Recipients are:
CampusLogic – Gilbert, Ariz. (IT – Software): CampusLogic’s cloud-based software solutions are the TurboTax of higher education financial aid administration. Its suite of products saves time, cuts costs, and increases student satisfaction.
eVisit – Gilbert, Ariz. (IT – Software): eVisit is physician-first software platform that enables physicians and providers to increase revenue and quality of care by providing online treatment, billing and e-prescription solutions, and daily patient health data and analytics.
RBar Energy – Tucson, Ariz. (Advanced Manufacturing): RBar Energy utilizes high-pressure and high-moisture manufacturing techniques for food made with all natural ingredients.
RevolutionParts, Inc. – Tempe, Ariz. (IT – Software): RevolutionParts is a highly-specialized software-as-a-service (SaaS) solution that makes it easy for automotive dealerships to sell factory car parts online.
RightBio Metrics – Scottsdale, Ariz. (Bio & Life Sciences): RightBio Metrics’ three pH measurement devices (RightSpot pH Indicator, RightSpot Infant pH Indicator, and RightLevel pH Detector) allow clinicians to safely and accurately obtain a pH measurement of aspirate from NG feeding, suction, and PEG tubes.
Swimlane – Tempe, Ariz. (IT – Software): Swimlane is a platform that allows enterprises and government agencies to streamline and automate their security operations and incident response.
A panel of expert judges evaluated 138 applications for the Spring 2015 AIC round, from companies based in Arizona, California, Massachusetts, Texas and Wisconsin. Each company was assessed on a set of criteria that included technology potential, marketing strategy, quality of management team and economic impact. These companies represent high-value industry sectors that include IT software, IT hardware, bio and life sciences, cleantech/renewable energy, advanced materials, advanced manufacturing, and aerospace and defense. In June 2015, a total of 10 finalists were named in this round.
“Congratulations to the winners in this latest round of the Arizona Innovation Challenge,” said Sandra Watson, president and CEO of the Arizona Commerce Authority. “As they commercialize their technology, these innovative companies will continue to create high-quality jobs that have a positive economic impact, and we’re thrilled to support them in that journey.”
Arizona is nationally recognized as a top state for entrepreneurial activity due to the strength of its innovation ecosystem, which includes programs such as the AIC that support early-stage companies. Under the Arizona Commerce Authority, eight rounds of the AIC have been completed and more than 1,400 applications received for the program since 2011. Including the most recent Spring 2015 recipients, the ACA has awarded 50 AIC grants to Arizona’s entrepreneurs to help them accelerate their businesses and advance technologies. The Arizona Innovation Challenge (AIC) is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies, up to $250,000 in grant funding capital to grow their businesses – ultimately advancing innovation and technology commercialization opportunities in Arizona. The ACA commits $3 million annually to the Arizona Innovation Challenge — $1.5 million awarded in both the spring and the fall. Companies receiving awards will be required to commercialize their technology and generate revenue within the following 12 months.
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