Technology Association of Georgia
Atlanta-Based RaceIQ Engineering Wins Biz Launch Competition 2016
Fifteen startup companies competed at Historic Academy of Medicine at Georgia Tech in the final round for a combined $400,000 in cash and services
ATLANTA (May 5, 2016) – The Technology Association of Georgia, Venture Atlanta, and the Metro Atlanta Chamber today announced that RaceIQ Engineering, the developers of cyber-security (CSec) software for the automotive market, is the winner of the 11th annual Biz Launch Competition held May 4th at the Historic Academy of Medicine at Georgia Tech.
RaceIQ works directly with automakers so they can detect and mitigate vehicle data hacks, malware and virus uploads. The company bested 14 other startups in the final round of the competition.
“We congratulate RaceIQ Engineering and all of the companies who participated in this year’s extremely strong competition,” stated TAG President and CEO Tino Mantella. “We look forward to the growth and continued success of these companies and we thank all of our sponsors and volunteers who have made the Biz Launch Competition possible.”
Allyson Eman, Executive Director, Venture Atlanta reflected, “The Business Launch is an important competition for Georgia’s early stage companies and our technology community. Venture Atlanta was proud to partner once again with TAG and the Metro Atlanta Chamber and is pleased to have an excellent company like RaceIQ Engineering on stage at Venture Atlanta November 2-3.”
As a result of the win, RaceIQ Engineering will now receive $50,000, a spot in Venture Atlanta, a marketing and promotions package from the Metro Atlanta Chamber and approximately $100,000 in donated services from the Atlanta business community to help them grow.
Three other Biz Launch finalists will split the more than $300,000 in remaining pro-bono services, including legal counsel, professional consulting, marketing, software and even real estate space. These finalists include:
- DecisionIQ – Brings a novel approach to industrial IoT analytics to deliver software applications that reduce the cost of operations and lower spare parts inventories through automated reporting and guided decision making.@decisioniq
- Fittery – A consumer marketplace that allows shoppers to quickly fill out a size and shape profile and instantly matches them to clothing that fits perfectly.@fitteryco
- FraudScope – Uses novel data analytics techniques to prioritize suspicious medical insurance claims for investigation to save money lost to fraud, waste and abuse. @FraudScope
“The Biz Launch Competition showcases the tech talent that is fueling our region’s innovation economy,” said Jennifer Sherer, Vice President of Innovation & Entrepreneurship at the Metro Atlanta Chamber. “We are happy to be a part of this event each year as we spotlight and honor the companies contributing to Atlanta’s entrepreneurial ecosystem.”
Since it was founded in 2006, the Biz Launch Competition has become one of largest competitions of its kind in the United States, providing $600,000 in cash and over $2,350,000 in donated services to more than 200 young entrepreneurs.
Applicants are screened by an experienced panel of entrepreneurs and the most promising companies are assigned a mentor for the duration of the competition. Representatives from out-of-state venture capital companies sit on the judge’s panel and a multitude of angel and venture capital investors attend the final event.
2016 sponsors for the event include:
- Noble Systems
- CEO Ventures
- Mosely Ventures
- Noro-Mosley Partners
- Southeast Investor Group
2016 media partners for the event include:
For more information visit: http://www.tagonline.org/events/businesslaunch.
About The Technology Association of Georgia (TAG)
TAG is the leading technology industry association in the state, serving more than 26,000 members through regional chapters in Metro Atlanta, Athens, Augusta, Columbus, Macon/Middle Georgia, and Savannah. TAG’s mission is to educate, promote, and unite Georgia’s technology community to foster an innovative and connected marketplace that stimulates and enhances a tech-based economy.
The association provides networking and educational programs; celebrates Georgia’s technology leaders and companies; and advocates for legislative action that enhances the state’s economic climate for technology. TAG hosts over 200 events each year and serves as an umbrella organization for 34 professional societies. Additionally, the TAG Education Collaborative (TAG’s charitable arm) focuses on helping science, technology, engineering and math (STEM) education initiatives thrive.
About the Metro Atlanta Chamber
The Metro Atlanta Chamber (MAC) serves as a catalyst for a more prosperous and vibrant region. To advance economic growth and improve metro Atlanta’s quality of place, MAC is focused on starting, growing and recruiting companies to the 29-county metro Atlanta region. The Chamber is also focused on growing the region’s innovation economy by promoting and strengthening connections to drive Atlanta’s innovation and entrepreneurial culture. MAC is committed to being an active voice for the business community, serving as an advocate for a competitive business climate and telling Atlanta’s story. For more information, visit www.metroatlantachamber.com
About Venture Atlanta
With the shared goal of bringing the premier venture capital event to the state of Georgia each year the Atlanta CEO Council, Metro Atlanta Chamber and Technology Association of Georgia joined forces in 2008 to create Venture Atlanta. Venture Atlanta evolved from the Atlanta CEO Council’s ION Venture Forum (previously called the Atlanta CEO Venture Forum). The annual non-profit event is held in November as the forum for Georgia’s top technology innovators and top-tier investors. Dating back to 2002, Venture Atlanta and its earlier iterations, have assisted companies in raising over $1.3 BILLION DOLLARS. Be sure to look at the Past Events section to see all the companies who have taken part in these venture conferences and find out where they are today. For More Information, visit http://ventureatlanta.org/.