Madison company selected as a finalist in Alabama Launchpad competition
MADISON – A Madison company has been selected as a finalist in a Alabama Launchpad competition. A program of the Economic Development Partnership of Alabama (EDPA), Alabama Launchpad has become the state’s most active early seed funding source and has funded 102 startups with over $5.6 million in non-dilutive money over the past 15 years.
Solved!, a Madison-based company that uses proprietary mathematical software to develop algorithms that greatly reduce calculation times involving large datasets, has been chosen to participate in Launchpad’s Cycle 2 2021 competition. It is competing with other entrepreneurs from Auburn, Birmingham and Montgomery for $25,000.
Alabama Launchpad has finalists in two stages of its competition: those in the concept stage, who are usually pre-revenue, and those in the early seed stage, who are looking to accelerate the growth of their existing business. Solved! falls in the concept stage category.
Past winning companies have an impressive track record, having created nearly 900 jobs in the state and reached a combined post-money valuation of $400+ million.
“We are impressed with the applicant pool that was interested Alabama Launchpad’s Cycle 2 2021, and look forward to progress with the eleven companies our Launch Advisors have selected. Cycle over cycle, we are encouraged by the growth, commitment, and creativity of entrepreneurs across the state,” said Miller Girvin, EDPA Executive Vice President of Innovation and Entrepreneurship. “We are grateful to our Launch Advisors for providing their expertise to strengthen these promising companies and look forward to seeing the finalists’ growth over the next six weeks thanks to their mentorship.”
For more information about Alabama Launchpad, go to www.alabamalaunchpad.com.
