Alabama Launchpad, a program of the Economic Development Partnership of Alabama, promotes and rewards high-growth, innovative start-ups across Alabama. Alabama Launchpad is for brand sparking new ventures within the seed stages seeking support and connections to capital providers within the state and region.
They want to assist turn great ideas into small companies that become big companies that make our whole state brighter, bolder and better than ever. Started in 2006, Alabama Launchpad is that the state’s largest and most active early-stage seed fund investor driving innovation and job growth through start-up competitions and ongoing mentoring for Alabama entrepreneurs.
What you would like to use
- A You Noodle account
- An entire application
- A 3 Minute Pitch Video (must not exceed 3 minutes)
- A business plan
- Agreement to the Terms and Conditions
- $150 application fee (paid through PayPal)
- Meet all Quality Check Standards
- A YouNoodle Account provides each applicant cloud-based access to collaborate, review, submit and track applications. YouNoodle is going to be the first communication vehicle for the Alabama Launchpad competition. Each application owner can invite other team members to look at and/or edit an application. Each team member is going to create their own YouNoodle Account and accept their invitation to fill out their form.
ELIGIBILITY AND RULES
Requirements of the competition– Participants understand that winning teams will be required to provide the EDPA Foundation with documentation that verifies specific requirements before receipt of the cash prize. Winning teams will have 30 days from the date of the competition finale to satisfy all competition requirements. Participants understand that this is a firm deadline and that the EDPA Foundation may revoke prize money for non-compliance.
Forfeiture and Repayment of Prize Money:
Winning teams understand and agree that, if any material misrepresentations are discovered or if a winning team isn’t ready to satisfy the above requirements or satisfactory completion of the prescribed project milestones, the team could also be disqualified and/or the corporate could also be required to repay any cash and prizes that are received plus 8% annual interest. Winning teams understand and agree that, if a winning company moves its headquarters or a majority of its business operations is outside the State of Alabama within five (5) years of payment of the award, the corporate is obligated to repay the EDPA Foundation the cash prize plus 8% annual interest. The EDPA Foundation has the only discretion in determining whether a corporation has moved a majority of its business outside of Alabama.
The judging panel is comprised of five individuals representing the investment/angel community, entrepreneurs, and corporate stakeholders.
- The same judging panel reviews all phases of the competition.
- During any phase of the competition, the judging panel may solicit additional information before making a decision.
- Submission of all competition materials and distribution of judges’ feedback will be managed via YouNoodle system.
- Each competition will follow a posted schedule.
- All posted deadlines will be strictly enforced.
- Teams with qualifying scores will advance to the finale and are eligible to get funded.