By: Mark Kelly
CROUX and VivoSphere LLC, two Alabama-based startup companies, earned a combined $75,000 in funding in the recent Alabama Launchpad Cycle 2 Finale for 2023. A program of the Economic Development Partnership of Alabama (EDPA), Alabama Launchpad partnered with Innovate Alabama to host the field of 11 finalists in the competition, held at The Park at Auburn University.
The funding awarded to the two companies is non-dilutive, meaning that it doesn’t affect founders’ equity or ownership status in their companies. Securing non-dilutive funding often is critical in the success of startups.
CROUX won $50,000 in the early seed stage competition. Founded by Jennifer Ryan and four other co-founders, the company serves the restaurant, hospitality and tourism industries by connecting them with high-quality talent seeking flexible work opportunities. Ryan and her partners are veterans of those sectors, and their business model is built around ensuring that those filling staff positions have flexible work hours, benefits and prompt payment. Birmingham-based CROUX is a former winner of the competition’s other category, the concept stage.
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