3 Chandler ‘Innovations’ tenants up for $250k award - Ahwatukee Foothills News: Money

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3 Chandler ‘Innovations’ tenants up for $250k award

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Posted: Saturday, March 31, 2012 6:47 am

Three tenants in Chandler’s Innovations Incubator have been named semifinalists for a statewide technology competition that will award grants of up to $250,000 to help start-up businesses grow. The companies are Cummings Engineering, Serious Integrated and BCR Diagnostics. They are among 25 semifinalists competing for the Arizona Innovation Challenge, which is sponsored by the Arizona Commerce Authority.

Start-ups that receive awards will be required to commercialize their technology and generate revenue within one year of the award. Companies will receive feedback from the evaluation process and a seasoned panel of evaluators from across Arizona.

More than 300 companies applied for the grant. Finalists will be names in mid-April, and winners will be selected in May. They will receive grants of $100,000 to $250,000. The criteria include technology potential, marketing strategy, management team and the potential for job creation within Arizona.

The Innovations Incubator is a city-owned initiative to accelerate the growth of science and technology jobs in Chandler, with the goal of creating new businesses.

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