Alabama Launchpad, a project of the Economic Development Partnership of Alabama, that has provided early-stage funding to dozens of Alabama startups, has launched a new competition honoring social impact.
The new project has been developed in conjunction with the Alabama Power Foundation.
“This inaugural Social Impact Competition is fit for entrepreneurs who are intent on making a positive impact on society through their startup,” the group said in announcing the project.
A total of $75,000 will be awarded to winning companies that show a commitment both to economic growth and social impact.
“We’re thrilled to invite businesses and entrepreneurs who want to make a positive difference to apply for our latest Alabama Launchpad competition,” said Miller Girvin, executive vice president of innovation and talent at EDPA. “So many entrepreneurs in Alabama are interested in both doing good in the community and doing well on their balance sheets, and we’re excited to help develop those companies in our next Launchpad cycle.”
Alabama Power Foundation, the supporter for this competition cycle, has been working to support projects with positive social impact, and has launched the Alabama Benefit Corporation Association to provide resources for enterprises interested in being certified as benefit corporations.
Applications are due by Thursday, August 18.