Arizona Commerce Authority

10/03/2024 | Press release | Distributed by Public on 10/03/2024 13:39

Arizona Commerce Authority Announces Semifinalists For The 2024 Arizona Innovation Challenge

Arizona Commerce Authority Announces Semifinalists For The 2024 Arizona Innovation Challenge

PHOENIX, AZ (October 3, 2024) -The Arizona Commerce Authority (ACA) announced today that 25 semifinalists have been selected for the 2024Arizona Innovation Challenge (AIC), one of the largest business plan competitions in the country.


The AIC is designed to advance innovation and technology commercialization opportunities in Arizona by helping early-stage ventures to scale.
"The 2024 AIC semifinalists represent some of the most promising startups developing next generation technologies in growing industries," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "This year's exciting semifinalists were selected from 130 applicants, highlighting Arizona's robust ecosystem of talented entrepreneurs. Congratulations to all the semifinalists, and we wish you the best of luck as you continue to the next round of the competition."
The 2024 Arizona Innovation Challenge Semifinalists are:

In total, 130 first round applications were received for the 2024 competition, representing industries including technology, healthcare, manufacturing, renewable energy and more.
The semifinalists represent the following sectors:

  • Bio & Life Sciences: 32%
    IT/Software: 20%
  • Advanced Materials: 16%
  • Advanced Manufacturing: 12%
  • CleanTech/Renewable Energy: 12%
  • IT/Hardware: 4%
  • Aerospace & Defense: 4%

"The 2024 AIC semifinalists represent some of the most promising startups developing next generation technologies in growing industries," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "This year's exciting semifinalists were selected from 130 applicants, highlighting Arizona's robust ecosystem of talented entrepreneurs. Congratulations to all the semifinalists, and we wish you the best of luck as you continue to the next round of the competition."

The AIC consists of three judging rounds, during which companies receive constructive feedback on their applications generated from the rigorous online evaluation and scoring process. Judges will now select 15 finalists that will pitch their startups in-person before a panel of investors. The judges will choose up to 10 companies as AIC awardees for 2024. After all judging rounds are complete, participants will have an opportunity to receive a consultation with the ACA to discuss their application and other potential resources available to help improve their business plans.

2024 AIC Schedule

  • Week of October 7: Semifinalist Applications Open
  • October 11, 2024: Semifinalist Applications Due
  • October 21 through November 8, 2024: Semifinalist Judging
  • November 14, 2024: Finalists Announced
  • November 21, 2024: Finalist Pitch Day
  • December 2, 2024: Awardees Announced

Up to 10 companies are added to the Arizona Innovation Challenge portfolio following each cycle of the competition. Companies chosen to join the Arizona Innovation Challenge portfolio will participate inVenture Scale, a six-month long accelerator that connects companies with serial entrepreneurs, high-level executives, and subject matter experts. Each founder is paired with an Entrepreneur-in-Residence, an entrepreneur who is in the most experienced ranks of the ACA Venture Development Mentorship program.Venture Scalewill help the startups refine their business plans, improve go-to-market execution strategies and increase investor readiness.


AIC Semifinalists and Finalists who do not become AIC Awardees will be invited to participate inVenture Raise, a 12-week accelerator that focuses on funding options, investor pitching, startup financial health, and more.

Media Contact
Alyssa Tufts, Arizona Commerce Authority,[email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visitazcommerce.comand follow the ACA on Twitter@azcommerce.