AlgoFace Awarded a $150K Grant by the Arizona Commerce Authority
Wednesday, March 6, 2024
AlgoFace, a leader in ethical Face AI, is proud to announce that they have been selected for a $150,000 grant by the Arizona Commerce Authority (ACA) as an Awardee of the Arizona Innovation Challenge (AIC). The AIC grant is a prolongation of growth momentum and recognition for AlgoFace.
CAREFREE, Ariz., Feb. 27, 2024 /PRNewswire-PRWeb/ -- AlgoFace, a leader in ethical Face AI, is proud to announce that they have been selected for a $150,000 grant by the Arizona Commerce Authority (ACA) as an Awardee of the Arizona Innovation Challenge (AIC). As one of the largest business plan competitions in the nation, the AIC has evaluated more than 2,800 applications and selected 140 Awardees since 2011. AIC's startup portfolio has collectively raised over $1.8B in funding, seen 29 successful exits, and has a portfolio valuation greater than $2.8B. After three rounds of the 2023 competition, AlgoFace was selected as one of the 10 grant Awardees. The $150K in grant funding will be unlocked by completing milestones in Arizona's premier, Venture Ready Accelerator program, offered only to AIC Awardees by the ACA.
"We are honored and humbled to have been chosen as one of the 10 recipients of the AIC 2023 awards and to become an ACA portfolio company. As a member of the ACA's illustrious group of startups, we look forward to accelerating our path of success," states Andrew Bart, CEO and Cofounder of AlgoFace.
ACA's Venture Ready Accelerator program is designed to ensure companies based in Arizona have access to local resources. This program connects Arizona small business owners with experienced CEOs as a mentor for their 6-month-long panel series designed to assist early-stage ventures to scale.
The AIC grant is a prolongation of growth momentum and recognition for AlgoFace.
-- AlgoFace was named as one of the 10 Startups to Watch 2024 by the
Phoenix Business Journal
-- AlgoFace was selected as an Arizona FAST Grant Awardee by the Arizona
Commerce Authority
-- AlgoFace CEO Andrew Bart was presented as the "Innovation Award" winner
at the Phoenix Business Journal's 2023 Small Business Awards
-- AlgoFace participated as a cohort company in the Fuel AI/ML Accelerator
sponsored by the Walton Family Foundation
-- AlgoFace was twice picked by Invest Southwest as a presenting company
and once as an Alumni presenter at the Venture Madness Competition
-- Two years in a row AlgoFace was chosen as a finalist for Startup of the
Year for the AZ Governor's Celebration of Innovation (2022, 2023)
About AlgoFace
AlgoFace makes it easier to build and deploy trusted responsible Face AI solutions. Our B2B & B2G Ethical Face AI Enablement Engine leverages computer vision, machine learning, and generative AI to power applied AI solutions that operate on the edge. Featuring privacy by default and ethical AI frameworks, our 2D facial landmark tracking, 3D face mesh, iris tracking, head pose estimation, and hair segmentation offer enterprise-grade accuracy and speed, with minimal power requirements. Our core Face AI Enablement Engine can be used to develop 2D and 3D Face AI solutions across mobile, desktop, embedded systems, AR/VR, and the Metaverse.
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create - recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries.
Media Contact
Jeffrey Freedman, AlgoFace, 1 4105753330, jeffrey@algoface.ai, https://www.algoface.ai/
View original content:https://www.prweb.com/releases/algoface-awarded-a-150k-grant-by-the-arizona-commerce-authority-302069670.html
SOURCE AlgoFace
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