The University of South Alabama Office of Technology Transfer hosted the finals of the annual Alabama Launchpad Business Plan Competition recently at the USA Library Auditorium.

After an intensive statewide competition, the final eight companies presented their business plans to judges as the businesses compete for $175,000 in seed capital. The first prize award of $100,000 went to Decision Innovations; the second-place award of $50,000 went to Iolitec Inc.; and the third-place prize of $25,000 was given to IPC Foam.

The business teams, which include graduate students and faculty from institutions across the state, will have a chance to network with other industry leaders and economic development officials at the contest.

Last year, USA Mitchell Cancer Institute-affiliated Swift Biotechnology won the second-place finish for its screening tool for endometrial and ovarian cancers. It was the first time a USA-affiliated company had won a prize in the competition.

Caption: At the annual competition, from left, Alabama Launchpad Director Glenn Kinstler; Alabama Launchpad President Angela Wier; and USA Office of Technology Transfer Associate Director Reggie Taylor.