Applications for the PYA Ballard Innovation Award close at midnight
Innovative early stage companies across industries are encouraged to apply to the fifth annual PYA Ballard Innovation Award, where $50K in cash and in-kind services is on the line.
The final day to apply for the PYA Ballard Innovation Award is Friday, March 21. Applications will close promptly at midnight. You can access the application here.
In the past five years, the competition has featured some of the fastest-growing companies in East Tennessee. Nearly all participants dating back to 2021 have seen exponential growth in traction, revenue, and adoption of their technologies in their respective industries since participating in the awards.
The top three contestants in 2024 included Safire (scaling rapidly, securing contracts, and shaking up the battery industry), Statheros (recently acquired by Peerless Technologies Corporation), and Whisper Aero ( secured funding from NASA, and launched a partnership with Black & Decker).
Other notable companies over the years include iO Urology (completed a 19.4 million series A round in early 2024), RegScale (recently won the Pinnacle Award for ‘Most Innovative’ company in Knoxville), and PrepWizard (400% growth from 2022 to 2024 with food labels in more than 15,000 stores).
What does the winner get?
The first-place winner of the PYA Ballard Innovation Award will receive:
$50,000 package of capital and in-kind services:
- $10,000 of Monetary Non-Dilutive Capital
- $ 2,500 of In-Kind Tax Advisory Support
- $ 7,500 of In-Kind Outsourced Accounting
- $10,000 of In-Kind Marketing Support
- $10,000 of In-Kind Strategy Support
- $10,000 of In-Kind Video Development
- Marketing and promotional awareness through earned media
- Physical award for presentation and marketing purposes
Who should apply?
The Ballard Innovation Award competition is open to any early-stage company in the East Tennessee area that has established a “proof of concept” with accompanying revenue. Applicants must present a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies while demonstrating clear innovations to improve the business and empower the consumer.
Applicant qualifications include a company that:
- Is located in the geographic East Tennessee area (33 counties as defined by the state of TN) – metro areas include Chattanooga, Knoxville, and Tri-Cities;
- Has established a “proof of concept” with accompanying revenue (as outlined);
- Has secured financial resources of a minimum of $200,000 total;
- Has a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies;
- Can demonstrate clear innovations that will improve the business;
- Has a focus on empowering the consumer to become more informed and engaged.
If you have any questions about the qualifications, please email kbiefeldt@pyapc.com, or call PYA (800) 270-9629.
Meet the judges
The judges include Patricia Bible, the Owner and Chief Executive Officer (CEO) of KaTom Restaurant Supply, Inc., Billy Carroll, the President and CEO of SmartBank, Shannon Harper, the President and Dealer Principal of Harper Auto Square, Pierce LaMacchia the Co-founder and Owner of K Brew, and Cynthia Gibson, the General Counsel for Bush Brothers & Company.
Find the application at this link.
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