2009 Info Session UAH

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Information Session on Alabama Launchpad

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2009 Info Session UAH

  1. 1. Information SessionSeptember 18thUniversity of Alabama in Huntsville<br />Glenn Kinstler, Director<br />
  2. 2. What is ALABAMA Launchpad?<br />Alabama Launchpad is a not-for-profit organization dedicated to the support and promotion of “high-growth” entrepreneurship and innovation in Alabama.<br />Alabama Launchpad was formed in 2006 by the state’s public, research universities and the business community.<br />Unique collaboration between business and academia<br />Effort to advance “The New Economy” in Alabama<br />“Building an innovation economy through collaboration and entrepreneurship”<br />
  3. 3. Alabama Launchpad Partners<br />Alabama A&M University<br />
  4. 4. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />
  5. 5. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />
  6. 6. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />University of Alabama<br />
  7. 7. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />University of Alabama<br />University of Alabama at Birmingham<br />
  8. 8. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />University of Alabama<br />University of Alabama at Birmingham<br />University of Alabama in Huntsville<br />
  9. 9. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />University of Alabama<br />University of Alabama at Birmingham<br />University of Alabama in Huntsville<br />University of South Alabama<br />
  10. 10. Alabama Launchpad Partners<br />Alabama A&M University<br />Alabama State University<br />Auburn University<br />University of Alabama<br />University of Alabama at Birmingham<br />University of Alabama in Huntsville<br />University of South Alabama<br />The Economic Development Partnership of Alabama (EDPA) <br />
  11. 11. Role of EDPA<br />Privately funded, not-for-profit organization<br />Private side of economic development<br />Created in the early 90’s to help attract business to Alabama<br />Assists the state, local and corporate economic development/recruiting agencies<br />Extensive Existing Industry Program<br />Entrepreneurship is Economic Development<br />
  12. 12. Idea of Entrepreneurial Churn<br />
  13. 13. “Writing a business plan is the first step to creating a successful venture. Everything starts with the plan.” <br /> – Dr. Bob Kolodney, Harvard Business School<br />Governor’s Business Plan Competition<br />
  14. 14. Business Plan Competition<br />Competition is for innovative, high-growth ideas<br />Eligible teams must be affiliated with a partner university<br />Current Student<br />Current Faculty<br />Other University Employee<br />Alumni of no more than five years<br />Former Faculty of no more than three years<br />Must establish and maintain HQ and the majority of business operations in Alabama for 5 years<br />Universities are “Centers of Innovation”<br />
  15. 15. Goals of the Competition<br />Provide a structured approach to writing a business plan<br />To educate and nurture entrepreneurs<br />To showcase Alabama’s best start-up ideas and promote the opportunities for entrepreneurship and innovation in Alabama<br />To create a statewide network of individuals interested in high-growth entrepreneurship<br />To provide seed financing to three high-growth businesses on an annual basis<br />
  16. 16. Nuts & Bolts<br />Phase I – Optional and Noncompetitive<br />Start up teams submit 2-page executive summary<br />Deadline is Sept. 25<br />Phase II<br />4-page “extended” executive summary<br />Submissions graded on quality of idea and quality of b-plan<br />Top 20 advance<br />Phase III<br />Fully developed b-plan, but limited to 10 pages<br />Teams paired with mentors<br />
  17. 17. Nuts & Bolts<br />Phase IV<br />Top 8 from Phase III advance<br />Teams pitch their ideas to judges and larger audience<br />2010 Finale at UAH<br />Opportunity to bring together government officials, entrepreneurs, university officials, business leaders, economic developers, investors<br />
  18. 18. 2008-2009 Registration Figures<br />36 team registrations<br />Industry Categories:<br />IT – 6<br />Materials Eng – 5<br />Biotech – 5<br />Medical Devices – 3<br />Consumer Products – 3<br />Pharma/Drug Delivery – 3<br />Auto/Aero Eng – 3<br />Green Tech – 2<br />Ag/Vet – 2<br />Other - 4<br />
  19. 19. What do the winners win?<br />Grand Prize: $100,000<br />2nd Place: $50,000<br />3rd Place: $25,000<br />While cash is king, the real prize is the opportunity to connect with members of the venture and angel communities and other business leaders.<br />
  20. 20. A few past winners…<br />
  21. 21. 2007 2nd Place: Halo Monitoring<br />Led by two UAH MSEE alumni<br />Wearable health monitoring system that uses wireless technology to monitor health and lifestyle of the elderly.<br />Caregivers can monitor vitals of subject in real time<br />Fall detection and automatic notification of 911<br />Currently incubated at BizTech<br />Since competition, Halo has received $1.7 million of investment from the Huntsville Angel Network, Greer Capital Advisors and Jemison Investments<br />
  22. 22. More on Halo Monitoring<br />First sales in early 2009<br />Halo Research goes to Consumer Electronics Show ►<br />Company now has 12 full-time employees<br />System available in Huntsville and New Jersey<br />
  23. 23. 2007 Grand Prize Winner: OcuMedic<br />Team led by Dr. Mark Byrne, Professor of Chemical Engineering at Auburn Univ.<br />Drug delivery company with a patented technology that creates therapeutic contact lenses for the treatment of ocular diseases<br />Time release<br />Used much of prize money to file international patent applications and new “field-of-use” patents<br />Currently in animal testing at the Auburn College of Veterinary Medicine (FDA process)<br />
  24. 24. 2008 2nd Place: SEA Desalination<br />Led by Ph.D. candidate from The University of Alabama<br />Sun-powered system that removes salt from seawater or pollutants from contaminated ground water<br />Made from recycled soda bottles<br />Initial sales are targeted to third world markets and coastal homeowners<br />10 full and part-time employees<br />Currently incubated at UA AIME Center<br />
  25. 25. 2008 3rd Place: SSS Optical Technologies<br />Led by a former faculty member at Alabama A&M University<br />Developing a new sensor to detect ammonia in animal feeding operations<br />System is easier to install, easier to maintain, and cheaper long-term  <br />Company is currently incubated at BizTech, recently hired new CEO<br />Pilot projects w/ poultry facilities in Arab, AL and Athens, GA<br /><ul><li>Company recently approved for SBIR II grant
  26. 26. In final stages of due diligence with Huntsville Angel Network</li></li></ul><li>2009 1st Place: Innovative Composite Solutions<br />Company led by 3 professors from UAB School of Engineering<br />Design and manufacture of high-end thermoplastic composites<br />Military, aerospace and mass transit market opportunities<br />Company uses a proprietary manufacturing process<br />Lighter, cheaper, more energy efficient and recyclable <br />
  27. 27. Many opportunities for ICS<br />
  28. 28. Where does the money come from?<br /><ul><li>Universities
  29. 29. Sponsors
  30. 30. State of Alabama</li></ul>Financial Support<br />
  31. 31. Sponsors – 2008/2009<br />Platinum Level<br />($25,000 and up)<br />
  32. 32. Current Sponsors – 2008/2009<br />Gold Level ($10,000):<br />Vulcan Materials Company*<br />Silver Level ($5,000):<br />
  33. 33. Current Sponsors – 2008/2009<br />Bronze Level ($2,500):<br />
  34. 34. For more information…<br />Glenn Kinstler, Director<br />gkinstler@edpa.org<br />(205) 943-4709<br />www.alabamalaunchpad.com<br />@alalaunchpad<br />

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