Tempe, Arizona (May 13, 2015) – RevolutionParts is excited to announce its place as a semifinalist in the Arizona Innovation Challenge (AIC), a bi-annual competition for startups. After applying, applicants were narrowed down by a panel of judges based on potential in each company’s business plan, marketing strategy, economic impact, and quality of management. Out of 138 applicants, only 25 were selected for the semifinal round.
The AIC, powered by the Arizona Commerce Authority (ACA), grants $3 million to startup companies each year in a biannual competition. Between 10 and 15 companies will make it to the finalist round, where they have the opportunity to participate in ACA’s Venture Ready mentor program. In order to make it to the final round, businesses must make a formal and interactive pitch to the final judge panel. Finalists will be named in June, and winners will be announced later that month. Typically, between 6 and 10 companies are selected as winners and are awarded up to $250,000 each to grow their business.
“We are honored to be competing with Arizona’s most innovative businesses,” said Ibrahim Mesbah, CEO, RevolutionParts. “The Arizona Commerce Authority is a visionary organization and its significant investment in this competition will have a long-term impact on the Arizona economy. RevolutionParts also hopes to play a part in helping the local economy by doubling the number of our employees in 2015 and again in 2016.”
ACA’s press release for the spring 2015 semifinalists can be found here.
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.