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IdeaFunding Awards $65,000 in Prizes By Loni Nannini Though the economy is still feeling the reverberations of the global pandemic, the startup scene in Southern Arizona is on fire – and Startup Tucson just added virtual fuel to the flames. In April, the local nonprofit and a group of community partners awarded more than $65,000 in prizes to small businesses through IdeaFunding, the region’s largest entrepreneurial conference and annual pitch competition. In addition to the cash prizes, the digital day-long conference offered priceless exposure for 80 competing companies to an audience spanning 326 cities. “We had people watching from London, Chicago, New York, Austin, Seattle and cities around the world, with a high percentage of viewers identifying as investors. IdeaFunding has always been magical because it is the opportunity for local entrepreneurs to come together and meet mentors and investors. This year we found that streaming offered a great opportunity to elevate our startup ecosystem,” said Dre Thompson, executive VP of Startup Tucson. 124 BizTucson
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Summer 2021
Since its inception 24 years ago, IdeaFunding has facilitated that goal by providing mentorship, encouragement and training for a range of small businesses and new business starts. The one-on-one training and support, courtesy of the University of Arizona Center for Innovation, culminated in a fiveminute presentation for each business at the competition. The event serves as a springboard to help participants grow – and sometimes sell – their businesses. “In addition to an opportunity to showcase our ecosystem and talent, IdeaFunding is a learning tool designed to build relationships and help businesses hone their communication and pitch skills for thais conference and others around the country,” said Thompson. IdeaFunding has grown steadily over the years through partnerships with Pima Community College and the University of Arizona McGuire Center for Entrepreneurship. The 2021 title sponsor was the Arizona Commerce Authority. UAVenture Capital provided the $10,000 cash for
the MainStage Pitch Prize, which also included a year of incubation by the UArizona Center for Innovation (valued at $10,000). The highly coveted prize was awarded to Micro Safari, which markets self-contained microecological system habitats and the tools needed to view them – including microscopes that attach to smartphones and tablets. The startup, founded by Tucson native Soroosh Hedayati, also topped the Consumer Products category. The Biotech and Life Sciences category winner was Metfora, which analyzes metabolites in the blood to diagnose diseases. The Software as a Service prize went to Patter, a software application for organizing and managing meetings. The Science & Tech winner was Paramium Technology, which commercializes technology for fabricating antennas. Women businesses and BIPOCfounded businesses (which stands for black, indigenous and people of color) were honored with the Adelante Arizona Awards, which were taken home www.BizTucson.com
