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I n f o r m a t i o n S e s s i o nS e p t e m b e r 1 8 t h
U n i v e r s i t y o f A l a b a m a i n H u n t s v i l l e
Glenn Kinstler, Director
What is ALABAMA Launchpad? Alabama Launchpad is a not-for-profit organization
dedicated to the support and promotion of “high-growth” entrepreneurship and innovation in Alabama.
Alabama Launchpad was formed in 2006 by the state’s public, research universities and the business community. Unique collaboration between business and academia
Effort to advance “The New Economy” in Alabama
“Building an innovation economy through
collaboration and entrepreneurship”
Alabama Launchpad Partners
Alabama A&M University
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State University
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn University
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn UniversityUniversity of Alabama
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn UniversityUniversity of AlabamaUniversity of Alabama at Birmingham
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn UniversityUniversity of AlabamaUniversity of Alabama at BirminghamUniversity of Alabama in Huntsville
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn UniversityUniversity of AlabamaUniversity of Alabama at BirminghamUniversity of Alabama in HuntsvilleUniversity of South Alabama
Alabama Launchpad Partners
Alabama A&M UniversityAlabama State UniversityAuburn UniversityUniversity of AlabamaUniversity of Alabama at BirminghamUniversity of Alabama in HuntsvilleUniversity of South Alabama
The Economic Development Partnership of Alabama (EDPA)
Role of EDPA
Privately funded, not-for-profit organization Private side of economic development
Created in the early 90’s to help attract business to Alabama
Assists the state, local and corporate economic development/recruiting agencies
Extensive Existing Industry Program Entrepreneurship is Economic Development
Idea of Entrepreneurial Churn
Idea
Grow
SurviveMature
Sell
“Writing a business plan is the first step to creating a successful venture. Everything starts with the plan.” – Dr. Bob Kolodney, Harvard Business School
Governor’s Business Plan Competition
Business Plan Competition
Competition is for innovative, high-growth ideas Eligible teams must be affiliated with a partner
university Current Student Current Faculty Other University Employee Alumni of no more than five years Former Faculty of no more than three years
Must establish and maintain HQ and the majority of business operations in Alabama for 5 years
Universities are “Centers of Innovation”
Goals of the Competition
Provide a structured approach to writing a business plan
To educate and nurture entrepreneurs To showcase Alabama’s best start-up ideas
and promote the opportunities for entrepreneurship and innovation in Alabama
To create a statewide network of individuals interested in high-growth entrepreneurship
To provide seed financing to three high-growth businesses on an annual basis
Nuts & Bolts
Phase I – Optional and Noncompetitive Start up teams submit 2-page executive
summary Deadline is Sept. 25
Phase II 4-page “extended” executive summary Submissions graded on quality of idea and
quality of b-plan Top 20 advance
Phase III Fully developed b-plan, but limited to 10 pages Teams paired with mentors
Nuts & Bolts
Phase IV Top 8 from Phase III advance Teams pitch their ideas to judges and larger
audience 2010 Finale at UAH Opportunity to bring together government
officials, entrepreneurs, university officials, business leaders, economic developers, investors
2008-2009 Registration Figures
36 team registrations Industry Categories:
IT – 6 Materials Eng – 5 Biotech – 5 Medical Devices – 3 Consumer Products – 3 Pharma/Drug Delivery – 3 Auto/Aero Eng – 3 Green Tech – 2 Ag/Vet – 2 Other - 4
What do the winners win?
Grand Prize: $100,000
2nd Place: $50,000
3rd Place: $25,000
While cash is king, the real prize is the opportunity to connect with members of the venture and angel communities and other
business leaders.
A few past winners…
2007 2nd Place: Halo Monitoring
Led by two UAH MSEE alumni Wearable health monitoring system
that uses wireless technology to monitor health and lifestyle of the elderly. Caregivers can monitor vitals of subject in
real time
Fall detection and automatic notification of 911
Currently incubated at BizTech Since competition, Halo has received
$1.7 million of investment from the Huntsville Angel Network, Greer Capital Advisors and Jemison Investments
More on Halo Monitoring
First sales in early 2009
Halo Research goes to Consumer Electronics Show ►
Company now has 12 full-time employees
System available in Huntsville and New Jersey
2007 Grand Prize Winner: OcuMedic
Team led by Dr. Mark Byrne, Professor of Chemical Engineering at Auburn Univ.
Drug delivery company with a patented technology that creates therapeutic contact lenses for the treatment of ocular diseases
Time release Used much of prize money to file
international patent applications and new “field-of-use” patents
Currently in animal testing at the Auburn College of Veterinary Medicine (FDA process)
2008 2nd Place: SEA Desalination
Led by Ph.D. candidate from The University of Alabama
Sun-powered system that removes salt from seawater or pollutants from contaminated ground water
Made from recycled soda bottles
Initial sales are targeted to third world markets and coastal homeowners
10 full and part-time employees Currently incubated at UA AIME
Center
2008 3rd Place: SSS Optical Technologies
Led by a former faculty member at Alabama A&M University Developing a new sensor to detect ammonia in animal feeding
operations System is easier to install, easier to maintain, and cheaper
long-term Company is currently incubated at BizTech, recently hired new
CEO Pilot projects w/ poultry facilities in Arab, AL and Athens, GA Company recently
approved for SBIR II grant
In final stages of due diligence with Huntsville Angel Network
2009 1st Place: Innovative Composite Solutions
Company led by 3 professors from UAB School of Engineering
Design and manufacture of high-end thermoplastic composites
Military, aerospace and mass transit market opportunities
Company uses a proprietary manufacturing process
Lighter, cheaper, more energy efficient and recyclable
Many opportunities for ICS
Where does the money come from?• Universities• Sponsors• State of Alabama
Financial Support
Sponsors – 2008/2009
Platinum Level
($25,000 and up)
Alabama Power Company
Foundation
Alabama Research Alliance*(ADECA)
Economic Development Partnership of
Alabama
Current Sponsors – 2008/2009
Gold Level ($10,000):Vulcan Materials Company*
Silver Level ($5,000):
Alagasco AT&T
Blue Cross & Blue Shield of Alabama
Bradley, Arant, Boult, Cummings, LLP*
Burr & Forman LLP EBSCO Industries, Inc.
Greer Capital Advisors, LLC
Harbert Management Corporation*
Hudson-Alpha Institute for Biotechnology
Metropolitan Development Board*
Current Sponsors – 2008/2009
Bronze Level ($2,500):
City of Auburn Innovation Depot
Kinetic Communications*
Maynard, Cooper & Gale, P.C.
Southern Research Institute
Thomas, Kayden, Horstemeyer & Risley,
LLP
The UA Office for Technology Transfer*
Warren, Averitt, Kimbrough & Marino,
LLC*
For more information…
Glenn Kinstler, [email protected]
(205) 943-4709www.alabamalaunchpad.com
@alalaunchpad
