PHOENIX – The Arizona Commerce Authority (ACA) today announced the 10 finalists in the spring 2017 round of the Arizona Innovation Challenge (AIC), a business plan competition for promising early-stage companies in high-growth industries.
The ACA provides $3 million in grants annually to the most qualified, innovative startups and early-stage companies. Each company receives up to $250,000 in capital to grow their businesses – advancing innovation and technology commercialization opportunities in Arizona.
“Arizona ranks in the top five large states with the highest startup activity, and these finalists are an excellent indicator of the high level of entrepreneurial talent we have in our state,” said Sandra Watson, Arizona Commerce Authority President and CEO. “The ACA is proud to support companies at the start of their growth cycle in commercializing their innovations. Congratulations to all the spring 2017 finalists!”
The 10 spring 2017 Arizona Innovation Challenge finalists are as follows:
-Attribytes, IT-Software Chandler, AZ
-ClickIPO, IT-Software Scottsdale, AZ
-Codelucida, IT-Hardware Tucson, AZ
-Electric Torque Machines, Advanced Manufacturing, Flagstaff, AZ
-Hydronalix, Aerospace & Defense, Green Valley, AZ
-Naya Energy, Cleantech-Renewable Energy, Phoenix, AZ
-Paradigm Diagnostics, Bio & Life Sciences, Phoenix, AZ
-Prospectify, IT-Software, Chandler, AZ
-Recruiting.Ai, IT-Software, Scottsdale, AZ
-Zero Mass Water, Cleantech-Renewable Energy, Scottsdale, AZ
A total of 149 applications were received for the spring 2017 round from companies across Arizona and one company from California looking to relocate to Arizona.
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.