Arizona Commerce Authority Selects 30 Semifinalists for 2022 Innovation Challenge
The Arizona Commerce Authority (ACA) has unveiled the 30 semifinalists for the 2022 Arizona Innovation Challenge (AIC), a competition that encourages technological advancement and innovation in the state. This initiative is aimed at supporting early-stage companies in scaling their operations.
ACA’s President and CEO, Sandra Watson, expressed the difficulty in narrowing down the candidates, saying, Choosing 30 semifinalists from over 80 exciting applicants for this year’s competition was a challenging task. Companies applying for this competition continue to impress us with their unique solutions and services. Congratulations to each of the semifinalists and good luck in the next round!
The selected semifinalists span various industries, including IT – Software, Bio & Life Sciences, Cleantech/Renewable Energy, Aerospace & Defense, Advanced Manufacturing, and IT – Hardware. Key participants among the semifinalists are Bannack Medical, Carbon Utility LLC, and VMAS Solutions Inc. dba TouchPoint Solution, covering locations across Arizona, with one representative from Cincinnati, OH.
A total of 85 applications were submitted for the 2022 competition, with the following industry representation:
- IT/Software: 40 or 47% of applications
- Bio & Life Sciences: 21 or 25% of applications
- CleanTech/Renewable Energy: 12 or 14% of applications
- IT/Hardware: 6 or 7% of applications
- Advanced Manufacturing: 3 or 4% of applications
- Aerospace & Defense: 3 or 4% of applications
The judging process is structured in three rounds, where applicants receive feedback based on detailed evaluations. The next phase involves selecting 15 finalists who will present their business pitches to a panel of investors, aiming to become one of the 10 AIC awardees. Post-evaluation, participants can consult with ACA representatives to enhance their business strategies.
2022 AIC Schedule
- Week of October 3, 2022: Semifinalist Applications Open
- October 20-November 9: Semifinalist Judging Period
- November 14, 2022: Finalists Announced
- Week of November 14, 2022: Final Pitches
- December 1, 2022: Awardees Announced
The AIC awardees will join the Arizona Innovation Challenge portfolio and participate in the ACA’s Venture Ready Accelerator. This program connects selected companies with industry experts and provides a series of workshops aimed at refining business plans and improving market strategies over the following year.
Media Contact
Alyssa Tufts, Arizona Commerce Authority, [email protected]
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the preeminent economic development body in Arizona, focused on enhancing the state’s economy through a tripartite strategy: attract, expand, create. This involves drawing in out-of-state businesses, aiding in the expansion of existing ones, and supporting entrepreneurs in launching new ventures. More information is available at azcommerce.com, and updates can be followed on Twitter @azcommerce.
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