Alabama Resources

Alabama Launchpad Startup Competition

Greg Sheek 
Director of Launchpad Programs
Economic Development Partnership of Alabama (EDPA)

1320 1st Avenue South
Birmingham, AL 35233

(205) 943-4724

Purpose of Initiative
The purpose of the Alabama Launchpad’s Startup Competition is to promote and reward high-growth, innovative ventures that have the potential to grow and thrive in Alabama. It provides unique opportunities to early-stage start-up participants to access sound business advice and critical startup capital to take an idea from concept to reality.

Applicants must certify that the ideas and concepts are the original work of the applicants. The proposed business must be launched and headquartered in Alabama, with primary business operations taking place in Alabama for a period of five (5) years. Senior management of the company are required to operate and reside in Alabama.

The competition is for new, independent ventures in the pre-seed, seed, startup or early-growth stages, or for the expansion of an existing business into a new high-growth market.

(Buy-outs, real estate syndications, tax shelters, franchises, licensing agreements, and spin-outs from existing corporation are generally excluded from the competition.) Ventures that have raised equity capital totaling $1 million or more from sources other than team members or their friends and families, or that have realized more than $3 million in sales in the 12 months immediately preceding the competition are not eligible. However, Federal grant awards, including funding from SBIR/STTR programs, are excluded from this external funding restriction.

Competition Steps

The competition process consists of the following three (3) phases. The judging panel will eliminate teams during each phase based on evaluation criteria and the judges’ judgement of which company(s) have the greatest chance of success.

  1. Application Phase – complete and submit online application and application supplemental materials (Startup Project Budget, Business Model Canvas, Pitch Video, Pitch Slide Deck)
  2. Pitch Phase – make a live pitch presentation to the judging panel. Advancing teams will receive free of charge a market assessment report based on the company’s business plan to incorporate into their finale pitch and business plan submission.
  3. Finale Phase – submit a final version of the business plan and make a 10 minute pitch at the finale event

Angel Investor Management Group (AIM Group)

Jim Corman
Co-Founder, Managing Partner

2124 Moores Mill Road,
Suite 230A
Auburn, AL 36830

Purpose of Initiative
The Angel Investor Management Group (AIM Group) is an early-stage funding source in the Southeast that invests in early-stage tech companies. It is a network of angel networks with chapters in Auburn, Birmingham, Huntsville, Mobile, Montgomery, and Dothan.

The AIM Group invests in early stage tech companies ranging from pre-revenue to several million dollars in revenue. Their sweet spot is early revenue of $1,000,000 to $2,000,000 and companies looking to aggressively expand. Occasionally AIM will invest in pre-revenue opportunities; however, the product or service needs to be market ready, and revenue must be a sure thing.

While fairly industry agnostic, first and foremost, the AIM Group looks for tech enabled opportunities addressing a large market. The technology needs to give the company a substantial competitive advantage over the competition. The AIM Group invests in a wide spectrum of industries that ranges from software to big data to healthcare.

Application Process
To apply for funding, a completed Application Questionnaire and Executive Summary should be emailed to Further application information can be found here:

Applications for funding are reviewed by AIM Group on a monthly basis. The field is narrowed down to a group of finalists that best fits the AIM Group’s criteria and each company is thoroughly evaluated. One or two companies each month will be selected for due diligence.

Due Diligence
AIM’s due diligence process identifies key pressure points. AIM’s priority is to interact as much as possible with the company’s management team, and their real or prospective customers, to evaluate true potential for growth and acquisition. The due diligence process typically lasts about four to five weeks.

Companies that have successfully completed the due diligence process are taken on the Roadshow to present to every AIM Group chapter. The Roadshow is conducted over four days in a series of eight investment presentations given in seven cities. The goal is one Roadshow each month, with one presenting company requesting funding from the AIM membership. The expectation is for every company that completes the Roadshow to be funded.

Award Details
Investments range from $500,000 to $1 million, with an average investment amount of $750,000 per round. However, often the AIM Group co-invests with other investors, and have participated in round sizes as large as $10,000,000.

Once investments are made, AIM expects to have a board seat associated with our round of funding and to receive CEO updates and timely financials, keeping our management teams and their AIM investors connected. With our large membership and their associated contact networks, AIM can help make connections to potential customers, employees, advisors, or service providers. The experiences and relationships from our large pool of portfolio companies can help add meaningful value well past dollars raised.

Updated: March 2018