Two startups won combined funding of $ 75,000 in the latest edition of the Alabama Launchpad from the Alabama Economic Development Partnership.
Launchpad allows entrepreneurs to present their business concepts to professionals and earn funding to carry out their concept or develop their vision. In 15 years, the competition has funded 104 Alabama startups with $ 5.7 million. These companies are now valued at over $ 400 million and employ over 850 people.
The sports app ProU Sports won the Concept Stage award of $ 25,000, and the female financial community The Wealth Edit took home the Initial Stage award of $ 50,000.
ProU Sports is a mobile application that helps college sports fans follow their favorite players in their professional sports careers. After the app launched in March, they now have over 3,000 users who interact with data, social media content and more from current NFL players. The company plans to use the money to hire a part-time employee.
The Wealth Edit is a membership-based online community that teaches women how to develop a modern skill set for their personal finances. Co-founders Lauren Pearson and Emily Lassiter use their distinguished careers in wealth management to educate women about financial literacy.
“Alabama Launchpad has exceeded all expectations,” said Pearson. “Not only did we meet some amazing advisers that we would never have met otherwise, but we also had the opportunity to see The Wealth Edit in a new light that will allow us to expand our mission beyond our imagination. We are so grateful.
EDPA is a private, non-profit organization that supports business recruitment and expansion efforts in Alabama and promotes innovative and emerging startups through its Alabama Launchpad program.