Two startups won a combined $75,000 in funding in the latest edition of Alabama Launchpad from the Economic Development Partnership of Alabama.
Launchpad allows entrepreneurs to pitch their business concepts to professionals and win funding to take their concept to completion or grow their vision. Over 15 years, the competition has funded 104 Alabama startups with $5.7 million. Those companies are now valued at more than $400 million and employ more than 850 people.
Sports app ProU Sports took the $25,000 concept stage prize, and women’s financial community The Wealth Edit won the seed stage $50,000 prize.
ProU Sports is a mobile application that helps college sports fans track their favorite players moving into their professional sports careers. After launching the app in March, they now have more than 3,000 users that engage 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 an online, membership-based community educating women on how to develop a modern skillset for their personal finances. Co-founders Lauren Pearson and Emily Lassiter are using their successful careers in wealth management to educate women on financial literacy.
“Alabama Launchpad surpassed every expectation,” Pearson said. “Not only did we get to meet amazing advisors that we never would have met otherwise, but we also had the opportunity to see The Wealth Edit through a new lens that will allow us to expand our mission beyond our imagination. We are so grateful.”
The EDPA is a private, nonprofit organization that supports business recruitment and expansion efforts in Alabama and promotes innovative and emerging startup companies through its Alabama Launchpad program.