Two startups based in Birmingham came away with the top prizes at Alabama Launchpad’s Cycle 4 competition last week.
Lucid Living Solutions won the $50,000 concept-stage competition, and Conserv, a concept-stage winner in Cycle 3, took the $100,000 seed-stage competition.
Lucid Living Solution uses randomized monitoring and secure results sharing to help families manage substance use disorder. Conserv offers an environmental monitoring solution for museum and archive professionals.
“Both Lucid Living Solutions and Conserv are timely innovations that elevate the response to the unique challenges of our world in 2020,” said Greg Barker, president of the Economic Development Partnership of Alabama, which runs the competition. “We are excited to watch both companies grow thanks to the funding from the Launchpad program.”
Alabama Launchpad, in its 14th year, has awarded $5.4 million to winning companies. Those winning companies today have an estimated valuation of $400 million and employ more than 700 people, according to Launchpad.