Deadline near for ‘Rise of the Rest’ Birmingham startup competition for $100,000
Birmingham area startups have only a few days left to be considered for a $100,000 investment from “Rise of the Rest” founded by Steve Case. Birmingham is among five cities chosen for the America Online founder’s latest initiative aimed at championing innovation ecosystems in the U.S. The Rise of the Rest bus tour arrives in Birmingham May 9, but the deadline for startups to apply for the six-figure prize is March 20. Interested companies are encouraged to go to the website and apply. Birmingham Mayor Randall Woodfin said having Rise of the Rest in Birmingham is great exposure for what is happening in the Birmingham entrepreneurial scene but the $100,000 could make a major difference for a company on the rise. “This is an amazing opportunity for local startups because now we get a chance to highlight and showcase what they’re already doing so well,” Woodfin said in the video below. “They deserve national exposure.” The tour stop in Birmingham also features Google for Entrepreneurs, a longtime Rise of the Rest partner, which will provide coaches to help startup founders with their investment pitches. Republished with permission from the Alabama NewsCenter.
Steve Case’s ‘Rise of the Rest’ tour to showcase Birmingham startups
Birmingham’s technology startup scene is poised to receive a substantial boost from an initiative led by Steve Case, the founder of America Online and a champion of supporting emerging innovation ecosystems across the United States. Case will visit Birmingham on May 9 as part of the initiative’s five-city “Rise of the Rest” bus tour, now in its fourth year. The visit is meant to showcase the city’s growing tech startup sector, culminating with a $100,000 investment from the Rise of the Rest Fund in a local business. “For the past four years, we have been encouraged by the entrepreneurs and ecosystem builders we’ve met on our tours and are excited to invest catalytic capital into these Rise of the Rest regions,” said Case, chairman and CEO of Revolution, a Washington, D.C.-based investment firm whose mission is to build disruptive, innovative companies. Since the tour launched, Case and his team have traveled more than 8,000 miles on a bus to visit 33 cities and invest in local startups, according to an announcement. “It’s encouraging to see the interesting businesses and growth potential of startups in these cities,” said J.D. Vance, managing partner of the Rise of the Rest Fund. “We’ve witnessed firsthand the potential for startup ecosystems to transform economies and believe by investing in these companies early we are capitalizing on long-term trends.” The tour stop in Birmingham also features Google for Entrepreneurs, a longtime Rise of the Rest partner, which will provide coaches to help startup founders with their investment pitches. Other cities on the Rise of the Rest Tour are Dallas, Memphis, Chattanooga and Louisville. The tour wasn’t the only good news for Birmingham’s startup scene this week. Bronze Valley Corp., a nonprofit organization that aims to promote diversity and growth in the region’s tech startup sector, launched Wednesday with a conference featuring corporate executives, entrepreneurs and venture capitalists. This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website. Republished with permission from the Alabama NewsCenter.
Birmingham startup Pack Health to create 175 jobs in expansion
Startup Pack Health plans to open a new headquarters in downtown Birmingham and anticipates hiring 175 additional employees over the next four years, including programmers, developers, health advisers and other positions, according to the Birmingham Business Alliance (BBA). Pack Health has 30 employees and is renovating a building on First Avenue North that should open this summer. Capital investment in the project is $2.9 million, the BBA says. “In addition to accommodating our growing staff and bringing us closer to UAB and quality-of-life factors such as Railroad Park, Regions Field and Innovation Depot, this is a space where we can host events, work more closely with our local partners and become a hub for innovation in health and health care in Birmingham,” Pack Health President Mazi Rasulnia said. Pack Health is a digital platform for chronic care management that was founded in 2013 and moved to the Innovation Depot business incubator in 2014. It graduated from the incubator in 18 months and renovated a building in Avondale for its first headquarters. Its new headquarters is just two blocks from Innovation Depot. “I congratulate Pack Health,” Birmingham Mayor Randall Woodfin said. “From its inception here to aligning with major national partners and adding jobs, the company’s growth is a great example of how Birmingham is growing to meet the needs of its citizens.” ‘Success story’ The company worked with the Alabama Department of Commerce, Alabama Power Co., REV Birmingham, the City of Birmingham, the Jefferson County Commission and the BBA to make the expansion a reality. “Innovation represents a key catalyst in Alabama’s continued and future economic success. Pack Health has fully embraced this concept and recognizes the benefit of being a major part of the state’s innovation community,” said Greg Canfield, secretary of the Alabama Department of Commerce. “We look forward to working with them as they continue to pave the way for a better and healthier Alabama.” The digital health coaching that Pack Health provides helps people living with chronic conditions access care in an appropriate cost-effective manner, improve their health outcomes and get more enjoyment out of a healthy life. “Pack Health is truly a Birmingham startup success story,” Jefferson County Commissioner David Carrington said. “Their corporate strategy has resulted in rapid growth, which has enhanced the health of many Alabama citizens. As such, the commission fully supports the expansion of their services throughout our region.” Strategic partnerships Pack Health’s expansion comes on the heels of several strategic partnerships for the company. Coverys, a nationally recognized medical professional liability insurer based in Boston, recently made a strategic investment in the company that will allow Pack Health to expand its footprint within business organizations. “Helping companies like Pack Health grow in Birmingham is a significant goal for the Birmingham Business Alliance and its partners,” said Jon Nugent, the BBA’s vice president of innovation and technology. “Pack Health and the Birmingham startups of today are very important to our community’s future and the ability to compete globally for funding and talent. We are fortunate that we have public and private partners in Birmingham that understand that well,” he said. This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website. Republished with permission from the Alabama NewsCenter.
Alabama ranked near bottom of list of best states for startups, small business
A financial website ranks Alabama as one of the least favorable places for starting a business in the U.S. The study announced this week by personal finance website WalletHub ranks Alabama as the 42nd best state for startups in 2017. Grading on a 100-point scale, WalletHub used 20 key indicators of startup success to come up with its “2017 Best & Worst States to Start a Business,” averaging the score on each — with 100 being best. Metrics include office space expense, incentive spending, financing, an average length of the workweek, availability of human capital and the growth in the number of small businesses. On that scale, Alabama scored 40.92 points — last in Business Environment, 31st in Access to Resources and ninth in Business Costs. Alabama is among the bottom five states with the lowest average growth in the number of small businesses. However, the Yellowhammer State ranked in the top five for lowest labor costs, along with four other Southern states. In relation to some of its neighbors, Alabama listed at or near the bottom: Florida is sixth, Georgia is eighth; Tennessee and Mississippi were 27th and 28th respectively. Maryland, New Hampshire and New Jersey ranked lowest overall. The company also asked a panel of nine experts for their business insights on four key questions: Do you believe that the economic policies being pursued by the Trump administration will promote new-business development? To what extent do state policies, such as corporate tax rates, influence decisions about whether and where to start a new business? Are tax breaks and other incentives to encourage new businesses on net a good or bad investment for states? What measures can state authorities undertake in order to encourage entrepreneurs to start new businesses in their state? Answers are available at WalletHub.com. Source: WalletHub
