UAHuntsville Startup Decision Innovations Wins First Place in Alabama Launchpad
HUNTSVILLE, Ala. (April 17, 2011)— A team from The University of Alabama in Huntsville has won the Alabama Launchpad Business Plan Competition for the second year in a row and for the third time since the competition was launched in 2006. The team, Decision Innovations, constructed a business plan for a health-information, decision technology company that integrates real time organizational data with research in order to optimize quality, patient satisfaction, and financial outcomes of hospitals.
The team is led by Dr. Karen Frith, a registered nurse and an associate professor of nursing at UAHuntsville. As a result of the first place finish, the team will receive $100,000 in seed capital, plus in-kind services. Other team members are Dr. Faye Anderson, Dr. Fan Tseng, Gregory Reed and Dr. Mikel Petty.
The prizes were awarded during the finale of the Alabama Launchpad Business Plan Competition, a program of Alabama Launchpad. The finale was held at the University of South Alabama campus in Mobile. The finale was the fourth phase of the competition, which began in October 2010 with more than 40 teams.
Formed in 2006, Alabama Launchpad is a not-for-profit organization dedicated to the support and promotion of high-growth entrepreneurship in Alabama. The organization is a partnership between the Economic Development Partnership of Alabama, the business community, and six public universities in Alabama. The six universities are: Alabama State University, Auburn University, the University of Alabama, the University of Alabama at Birmingham, the University of Alabama at Huntsville, and the University of South Alabama.
The competition is a vetting process to evaluate high growth start-ups and provide seed funding. Competing teams must be affiliated with one of the participating institutions as either a current student, a current faculty member, or recent alumni. For more information, please visit www.alabamalaunchpad.com.
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The Office of Technology Commercialization is involved in all aspects of technology commercialization at UAHuntsville. This includes everything from education of faculty, staff, and students, to protection and licensing of intellectual property, to assisting in the development of spin-off companies by providing the appropriate resources for UAHuntsville entrepreneurs.
Advantages of Technology Commercialization:
Better connect UAHuntsville research community to industry
More efficient introduction of innovation to the marketplace
Creation of jobs in the community
Inventors share in the royalty revenue
Commercialization benefits the UAHuntsville community, the greater Huntsville community, the state of Alabama, industry, and taxpayers!
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