Tempe, Arizona (July 8, 2015) – Out of a pool of 138 applicants evaluated by a panel of expert judges, RevolutionParts has been named one of six winning companies to receive the Spring 2015 Arizona Innovation Challenge (AIC) Grant.
Sponsored by the Arizona Commerce Authority (ACA), the Arizona Innovation Challenge evaluates startups for potential economic impact, scalability, proven business models and a multitude of other criteria. Applicants represented a wide range of industries including clean energy, advanced materials, software, consumer goods and life sciences. The winning startups are awarded grants up to $250,000 to accelerate milestone achievement and job creation.
“Competing in the AIC has been an incredible experience and we are thrilled to receive this award,” says Ibrahim Mesbah, CEO and co-founder, RevolutionParts. “This funding will help us hire local talent and significantly accelerate product development to expand in new markets. I am extremely proud of what our team has accomplished and very excited about what we can achieve in the future with the proceeds of this grant.”
Since 2011, more than 1,400 companies have applied to compete in the Arizona Innovation Challenge and around only 50 grants have been awarded. RevolutionParts is honored to have had the chance to compete with such high caliber entrepreneurs. To learn more about the Arizona Innovation Challenge, visit the ACA website.
RevolutionParts helps automotive dealers maximize online OEM parts sales with powerful and user-friendly eCommerce solutions. The company’s focus is on making it dead simple for dealers to sell parts online and deliver a great shopping experience for their customers. RevolutionParts has scaled to $100 million in global transactions with hundreds of customers across the United States and Canada. For more information visit www.revolutionparts.com.