FOR IMMEDIATE RELEASE
CampusLogic Chosen from Among 138 Arizona Innovation Challenge Applicants
Phoenix, Ariz. (May 12, 2015) – The Arizona Commerce Authority (ACA) announced CampusLogic among the semifinalists in its biannual business plan competition the Arizona Innovation Challenge. The Gilbert ed tech startup and recent Venture Madness winner will compete against 24 other companies to win a $250,000 grant. The Challenge awards $3 million to promising entrepreneurs each year, split between Spring and Fall competitions, and supports the ACA’s goal of advancing innovation and technology in Arizona.
“We are privileged to be chosen to move forward with some of the best companies in the Southwest,” said Gregg Scoresby, CampusLogic Founder and CEO. “The Challenge illustrates the ACA’s dedication to the Arizona startup community and points to why Arizona is quickly becoming a hub for entrepreneurs and investors.”
CampusLogic was chosen from 138 applicants based in Arizona, California, Massachusetts, Texas and Washington. Semifinalists represent a variety of industries, such as IT software, IT hardware, bio and life sciences, cleantech/renewable energy, advanced materials, advanced manufacturing, and aerospace and defense. Criteria used by the panel of judges to select semifinalists includes technology potential, marketing strategy, quality of management team and economic impact.
As a semifinalist, CampusLogic will be considered for participation in Venture Ready, the ACA’s mentorship program that fosters connections between early-stage companies and experienced CEOs.
The ACA will name Challenge finalists in early June and announce the winners later the same month.
CampusLogic delivers SaaS solutions for colleges and universities that decrease administrative costs, lower security risk and dramatically improve the student experience. CampusLogic is transforming the way schools provide financial aid and other student services, disrupting the $41 billion higher education market with solutions that fundamentally change the way business is done. For more information, visit campuslogic.com.
About Arizona Innovation Challenge (AIC)
The AIC is a bi-annual business plan competition that awards qualified, innovative start-ups and early stage companies, up to $250,000 in grant funding capital to grow their businesses – ultimately advancing innovation and technology commercialization opportunities in Arizona. The ACA commits $3 million annually to the Arizona Innovation Challenge — $1.5 million awarded in both the spring and the fall. Companies receiving awards will be required to commercialize their technology in Arizona and generate revenue within the following 12 months. For more on the Arizona Innovation Challenge, visit azinnovationchallenge.com.