Published On: 12.12.22 | 

By: 14236

Alabama startups VB Ideas and Monthly win a combined $75,000 at the Alabama Launchpad Social Impact Competition

Aiko Pickering and Valencia Belle win FEATURE by Bruce Nix

Aiko Pickering of Monthly and Valencia Belle of VB Ideas were the big winners at the latest Alabama Launchpad competition. (Bruce Nix)

Two Alabama startups have been awarded a combined $75,000 in non-dilutive funding in the Alabama Launchpad Social Impact Competition, presented by the Alabama Power Foundation.

Birmingham-based VB Ideas took home $50,000 in the early-seed stage competition for its S.C.H.O.O.L.S. (Success Can Happen Out Of Low Scores) initiative, which provides coaching and support to help students in underserved communities boost their ACT and SAT scores.

Mobile-based Monthly, which makes sustainable and affordable menstrual underwear, was the winner of the concept-stage prize of $25,000. Monthly, which is just beginning production, plans to contribute a percentage of profits to charities fighting “period poverty” in the South.

Alabama Launchpad is a program of the Economic Development Partnership of Alabama. It partnered with the Alabama Power Foundation for its first social impact competition, with the finale held live at Birmingham’s Regions Field, as well as streamed online.

“This has been the most amazing process ever,” Valencia Belle, founder of S.C.H.O.O.L.S. and VB Ideas, said in a news release. “I was a mission-based service organization, and now this validates the fact that I can actually be a multimillion-dollar company.” She said the funding will help her scale up her program to reach more students.

Monthly is close to beginning production of its sustainable underwear line. (Bruce Nix)

Aiko Pickering, founder of Monthly, said, “I feel amazing, because periods happen and the products on the market just aren’t cutting it. I want Monthly to totally disrupt the market. Most of all, I’m happy that this is happening in Alabama.”

Ten companies competed in this latest Launchpad – five in the early-seed and five in the concept stage. All the companies had a social mission-based focus, along with seeking to make a profit.

All the companies received intensive mentorship, through both one-on-one and group session training with Launch Advisors, to prepare for their final pitches before a panel of judges.

The early-seed stage companies were judged by Andrew Jennings, chief commercial officer at Transcend, The Fearless Company; Kwamena Aidoo, co-founder at Corridor Ventures; and Kevin Cook, director of finance at Pack Health, a Quest Diagnostics company. The concept-stage competition was judged by Chris Sims, CEO of CAVU; Ginny Cavett, senior NPI and Source Change leader at GE Aerospace; and Gary Parisher, president and CEO of Cheeriodicals.

“As a prior Alabama Launchpad winner, it’s a great experience to be involved as a judge,” Parisher said. “I know what it feels like being in their position, and I enjoy helping the candidates not just go through the presentation process, but appreciate the experience they gain along the way.”

Hallie Bradley, manager of Strategic Initiatives at the Alabama Power Foundation, said the Launchpad competition fits well with the foundation’s priorities.

Valencia Belle with Launchpad judges. (Bruce Nix)

“The Alabama Power Foundation is placing greater emphasis on efforts to strengthen equity and generate economic opportunity in Alabama,” Bradley said. “Working with partners, we’re excited about the possibilities for helping elevate female and minority businesses across the state while supporting underserved communities and creating jobs.

“It’s been a wonderful experience to partner with the Economic Development Partnership of Alabama on their latest Launchpad, focused on small businesses and entrepreneurs eager to make a positive social impact in our state — and beyond,” Bradley added. “We congratulate everyone who participated, and we can’t wait to see these businesses grow and prosper while helping lift Alabama families and communities.”

With the latest Alabama Launchpad competition in the books, the initiative that began in 2006 is making an even greater impact, helping Alabama startups take their next steps toward long-term success. To date, Launchpad has provided over $5.9 million in non-dilutive funding to 112 companies. Today, those companies have an estimated post-money valuation of more than $1 billion and employ more than 1,300 people.

Launchpad is funded in part with grants from the Alabama Department of Commerce and the Alabama Department of Economic and Community Affairs, along with support from philanthropic organizations such as the Truist Foundation, Blue Cross and Blue Shield of Alabama’s Caring Foundation, the Wells Fargo Foundation and others.

To view a recording of the Alabama Launchpad Social Impact finale, visit alabamalaunchpad.com.

Applications for the next cycle of the Alabama Launchpad will open Jan. 6, 2023. To learn more, click here. To learn more about the Alabama Power Foundation and its initiatives, visit powerofgood.com.