Arizona Commerce Authority Opens 2014 Arizona Innovation Challenge
PHOENIX (March 3, 2014) – The Arizona Commerce Authority (ACA) today announced the opening of its Spring 2014 Arizona Innovation Challenge (AIC), a business plan competition that awards the most money in the country for a technology commercialization challenge. The ACA will be accepting applications now through March 28, 2014. Applications must be submitted by 3:00 p.m. MST (Arizona time).
The AIC is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies up to $250,000 each in grant funding capital to grow their businesses – advancing innovation and technology commercialization opportunities in Arizona.
The ACA commits $3 million annually to the AIC — $1.5 million is awarded in both the spring and the fall to the world’s most promising technology ventures. Companies receiving awards will be required to commercialize their technology and generate revenue within the subsequent 12 months of the award.
Additionally, every applying company that meets the AIC’s eligibility requirements will receive constructive feedback generated from the rigorous online evaluation and scoring process. These companies will also be given the opportunity to receive a consultation to discuss their business plans and other potential resources to advance their companies. All semifinalists will also be considered for participation in Venture Ready, the ACA's mentor program that connects early stage companies with high-level CEOs and serial entrepreneurs to further refine their business plans and investor pitches.
Joseph Valdez, Director, Communications and Community Affairs
Arizona Commerce Authority
602.845.1234 or firstname.lastname@example.org
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. Visit AzCommerce.com for more. For more on the Arizona Innovation Challenge, visit AzInnovationChallenge.com.