The Ballard Innovation Award
The judges were challenged as we had an unbelievable set of applicants.
Our heartfelt thanks to all the applicants, and to the many organizations around the region for spreading the word about the PYA Ballard Innovation Award. More to come!
The first-place winner of the PYA Ballard Innovation Award will receive the following:
- $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
- $10k of In-Kind Strategy Support
- Mention in marketing/media collateral
- $5k of In-Kind Strategy Support
- Mention in marketing/media collateral
About the Award
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.
The award is named in honor of Tom Ballard, PYA’s Chief Alliance Officer and well-respected member of the East Tennessee entrepreneurial community. The East Tennessee native spent more than four decades building relationships for the University of Tennessee and Oak Ridge National Laboratory throughout the region, state, and nation before joining PYA in 2012. During both careers, Ballard led initiatives to build multi-organizational alliances focusing on statewide telecommunications networking, automotive research, and land use planning. Ballard is also Editor and Publisher of Teknovation.biz, a daily electronic newsletter focused on technology, innovation, and entrepreneurship.
“As we once again open the floor for entries for the Ballard Innovation Award, it is our goal to highlight and help East Tennessee entrepreneurs with supportive strategies that further their entrepreneurial efforts,” said Marty Brown, President, and CEO of PYA. “This award allows us to connect with those innovators to help them grow and thrive as an established part of our community.”
Applying for the Award
Applications have ended for the 2022 Award.
Winners will be announced on March 9, 2022.
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 (revenue, capital, or grants, not including self-funding, friends, or family) 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.
Award winners will be decided by a distinguished panel of area business leaders and entrepreneurial mentors including: Mark Deathridge, Owner, ETMC Corp.; Nadim Jubran, President, InLieu; Misty Mayes, CEO, Management Solutions; Lisa Stowers Rottman, President, Stowers Machinery; and Wayne Wilson, CFO, Malibu Boats.
In its inaugural year, the Ballard Innovation Award first prize was presented to 490 BioTech. The company has developed bioluminescent technologies that enable new drugs to move more quickly through the pharmaceutical testing process. Eonix, LLC, a battery company, and Ascend Manufacturing, which works in 3D printing technology, placed second and third, respectively.
The video below was produced by PYA as part of the award.
For more information about the PYA Ballard Innovation Award, please contact Larsen Jay at (800) 270-9629.