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.

This year was the sixth anniversary of the PYA Ballard Innovation Award, marking a milestone of $400,000 awarded to area entrepreneurs since the award’s inception.

The 2026 PYA Ballard Innovation Award live pitch competition on April 22 hosted five high-growth startups vying for a total of $65,000 in monetary and strategic support from PYA.

EVRCool won first place, $50,000 in non-dilutive capital and in-kind tax, accounting, strategy, and marketing services. Second place was awarded to TerraSync, and third place went to CE Tools Inc., receiving $10,000 and $5,000 of in-kind support, respectively.

In total, this is the largest prize of its kind available to startups in the region. Since its inception in 2021, the PYA Ballard Innovation Award has granted more than $400,000 in cash and in-kind services to outstanding high-growth startups in East Tennessee.

Founded by Josh Roby and Jacob Swain, EVRCool is filling a major gap in the industrial chiller industry. Conventional air cooling and legacy liquid cooling systems are energy-intensive, physically large, and increasingly unable to keep up with the demands of high-density computing and electrified systems. To solve these problems, EVRCool’s advanced cooling technologies significantly increase heat transfer efficiency while reducing system size, energy consumption, and operational complexity.

“PYA is honored to recognize EVRCool and all of the innovative startups that competed this year,” said PYA CEO Marty Brown. “Their ingenuity and aspirations represent the values shared by all founders and the future they collectively imagine. For six years, the PYA Ballard Innovation Award has recognized those values because through PYA’s own entrepreneurial experience, we know a spirit of innovation energizes the community. We’re proud to advance the economic development and vibrant entrepreneurial center of our region.”

TerraSync, founded by Wesley Pitts, uses Grounds Maintenance Automation technology to transform commercial grounds maintenance management to reduce labor costs, improve efficiency, and enhance environmental sustainability.

CE Tools Inc. brings innovation to contractors’ legacy tools with improved performance, usability, reliability, and efficiency. Founded by Dan Lemcke, CE Tools Inc. offers tools built by contractors for contractors.

About 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

Inaugural Executives’ Choice Award

$1,000 of monetary capital

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.

Judging

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

Previous Winners

2025

PreTel, Unified Track, and Blank Beauty secure top spots at the 2025 PYA Ballard Innovation Award.

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:

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.