University of Arizona Center for Innovation Startups Win the Arizona Innovation Challenge
The Arizona Commerce Authority (ACA) announced today the winners of the Fall 2019 Arizona Innovation Challenge (AIC). Two of the winners are Tucson-based companies and both are startups at the University of Arizona Center for Innovation. AIC is one of the largest competitions in the country designed to advance innovation and technology commercialization opportunities in Arizona by helping early-stage ventures secure funding in order to rapidly scale.
Over 80 startups entered the competition, but only ten were named winners by the ACA, including two Tucson startups – Emagine Solutions Technology and Reglagene. Each winner was awarded $150,000, representing non-dilutive capital.
The highly competitive challenge drew startups from across the state of Arizona and consisted of three judging rounds, during which companies received constructive feedback on their applications generated from the rigorous online evaluation and scoring process. Companies that were selected to move on to the final round pitched live before a panel of judges. Concluding the judging rounds, participants had the opportunity to receive a consultation with the ACA to individually discuss their application and identify potential resources available to help improve their business plans.
Emagine Solutions Technology is a digital health company. The company’s Vistascan software transforms a doctor's mobile device into an ultrasound machine. Unlike traditional bulky cart ultrasound machines, VistaScan fits in the palm of a doctor’s hand, is easy to use, makes quick diagnoses and is 10x cheaper than a regular machine. This technology greatly impacts individuals in low-resource communities where access to typical expensive devices and a lack of ultrasound imaging can negatively affect how patients are triaged and treated.
Reglagene is a biotech company that is discovering new medications that attack cancer’s weaknesses. Reglagene leverages Quadruplex Master Switch Technology (QMST) to create new medicines that help cancer patients. Reglagene aspires to be the world’s leader in the creation of therapies that work through quadruplexes, DNA structures that selectively control the behavior of individual genes. Reglagene is a University of Arizona startup that worked with Tech Launch Arizona to license its initial intellectual property and start the company.
Both startups have collaborated with the University of Arizona Center for Innovation since 2017 to move their company from idea to market. The Center provides 20 startups with access to the people, programming and places that it takes to scale a business. Clients work side by side with other technology entrepreneurs in a fast-moving, collaborative and creative environment, with the advantage of hands-on support from people who have a track record of success. Companies that have participated in University of Arizona Center for Innovation programs have attracted grant funding, investments and employees. They have established new products in the marketplace contributing to the local economy.
“Congratulations to our Fall 2019 awardees!” said Sandra Watson, President & CEO of the Arizona Commerce Authority. “Each of these companies is advancing exciting innovations in digital health, wearables, fintech, SaaS and more. We could not be more proud to help them scale and achieve success in Arizona.”
“Our startups continue to impress me as they push themselves to achieve success. Winning the Arizona Innovation Challenge is not a simple feat; many companies apply several times before even making it past the first round of the competition. Emagine Solutions Technology and Reglagene both worked tirelessly with our Mentor-In-Residence, Steve Wood, to prepare for this challenge. They are prime examples of what hard work, dedication and determination can do for a company and it is an honor to have both of Tucson’s winners be part of the Center,” said Eric Smith, Executive Director of the University of Arizona Center for Innovation.
Companies chosen to join the Arizona Innovation Challenge portfolio will participate in the ACA's Venture Ready Accelerator, which connects companies with serial entrepreneurs, high-level executives and subject matter experts. Venture Ready helps startups refine their business plans, improve go-to-market execution strategies and increase investor readiness. Participants will complete a series of panels and workshops within the subsequent 12 months of the award.
About the University of Arizona Center for Innovation
The University of Arizona Center for Innovation is a startup incubator network with outposts across the Southern Arizona region and a mission to grow scalable startup ventures that fuel the Arizona economy. Since inception in 2003, the program has directly served over 120 companies and impacted thousands of entrepreneurs. This is done through providing access to people, programming and places that help entrepreneurs take their companies from idea to market.
The University of Arizona Center for Innovation is part of Tech Parks Arizona, which brings together university, industry and community, creating “interactive ground” to advance technology commercialization.
Courtney Williams, CEO & Co-Founder of Emagine Solutions Technology - WATCH VIDEO
