The PYA Ballard Innovation Award

The PYA Ballard Innovation Award is the largest regional gift of cash and in-kind services available to East Tennessee entrepreneurs. It is open to any early-stage company in the East Tennessee area that has established a proof of concept with accompanying revenue and financial resources of at least $200,000; a business plan to optimize business operations; evidence of an innovative spirit; and a vision to empower the consumer.

Winners of the award are announced each year during a live competition in which three finalists pitch their innovative ideas to a panel of judges comprising East Tennessee business and community leaders.

Congratulations to the 2025 Winners!

After a night full of pitches, presentations, questions, and innovative ideas, three East Tennessee entrepreneurs walked away with prizes from PYA.

Read the story on Teknovation.biz.

The Award

The Ballard Innovation Award is the largest gift of cash and in-kind services available to East Tennessee entrepreneurs and startups—a reflection of PYA’s commitment to the region.

1st Place

$50,000 package of capital and in-kind services:
- $10,000 of Monetary Capital
- $2,500 of In-Kind Tax Advisory Support
- $7,500 of In-Kind Outsourced Accounting
- $10,000 of In-Kind Marketing Support
- $10,000 of In-Kind Strategy Support
- $10,000 of In-Kind Video Development
Marketing and promotional awareness through earned media
Physical award for presentation and marketing purposes

2nd Place

$10,000 of In-Kind Strategy Support
Mention in marketing/media collateral

3rd Place

$5,000 of In-Kind Strategy Support
Mention in marketing/media collateral

About Tom Ballard

The PYA Ballard Innovation Award honors Tom Ballard, PYA’s former Chief Alliance Officer and founding editor of Teknovation, the firm’s publication focused on technology, entrepreneurship, and economic development. An East Tennessee native, Ballard spent more than five decades building relationships through three distinguished careers at the University of Tennessee, Oak Ridge National Laboratory, and PYA. In each role, he led initiatives to create multi-organizational alliances centered on statewide telecommunications networking, economic development, and business partnerships.

Ballard joined PYA in 2012 to launch the Teknovation initiative, positioning the firm as a key partner in the statewide mission to foster entrepreneurial growth and economic development. He retired from PYA in December 2025. Ballard is widely regarded as a pillar of the state’s entrepreneurial and innovation ecosystem. The Ballard Innovation Award celebrates his enduring legacy.

“It is our goal to highlight and help East Tennessee entrepreneurs with supportive strategies that further their efforts. This award allows us to connect with those innovators to help them grow and thrive as an established part of our community.”
– Marty Brown, President, and CEO of PYA.

Qualifications

The Ballard Innovation Award competition is open to any early-stage company in the East Tennessee area that has established a “proof of concept” with accompanying revenue. Applicants must present a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies while demonstrating clear innovations to improve the business and empower the consumer.

Applicant qualifications include a company that:

Is located in the geographic East Tennessee area (33 counties as defined by the state of TN) – metro areas include Chattanooga, Knoxville, and Tri-Cities;
Has established a “proof of concept” with accompanying revenue (as outlined);
Has secured financial resources of a minimum of $200,000 total;
Has a business plan to optimize existing business operations by reducing costs, increasing revenues, and/or gaining new efficiencies;
Can demonstrate clear innovations that will improve the business;
Has a focus on empowering the consumer to become more informed and engaged.

Judging

Award winners are determined by a distinguished panel of area business leaders and mentors.

Previous Winners

2024

Safire Technology Group was the winner of the 2024 PYA Ballard Innovation Award, with Statheros as 1st runner-up and Whisper Aero as 2nd runner-up.

The 2024 PYA Ballard Innovation Award Pitch Competition | 4/10/24

2023

iO Urology was the winner of the 2023 PYA Ballard Innovation Award, with Captis Aire as 1st runner-up and Carbon Rivers as 2nd runner-up.

The 2023 PYA Ballard Innovation Award Pitch Competition | 3/21/23

2022

PrepWizard, was the winner of the 2022 PYA Ballard Innovation Award, with Winter Innovations as 1st runner up and RegScale as 2nd runner-up.

PrepWizard, produced this video as part of their award:

RegScale produced this video as part of their award:

2021

In its inaugural year, the Ballard Innovation Award first prize was presented to 490 BioTech. Eonix, LLC and Ascend Manufacturing, placed second and third.

PYA produced this award-winning video as part of 490 BioTech’s award.