Arizona Face Biometrics Startup Selected for $150,000 Grant Program

AlgoFace has been named one of 10 firms eligible for a $150,000 grant from the Arizona Commerce Authority, opening the door to the latter’s Venture Ready Accelerator program.

The startup has been working on a lightweight 2D and 3D face analysis system designed to run locally. Its technology can be used to build various applications for mobile, desktop, web, and even AR/VR platforms. AlgoFace solutions include accurate facial landmark tracking, eye gaze estimation, and even synthetic data generation tools.

What makes the startup stand out is its emphasis on privacy and inclusivity. AlgoFace utilizes edge computing, ensuring user data stays on the device rather than being stored on servers. Additionally, the company prioritizes building facial recognition technology that works accurately for people of all backgrounds, helping combat potential biases found in other facial analysis systems.

The ACA’s grant is awarded through the Arizona Innovation Challenge, which has collectively raised more than $1.8 billion in funding and seen 29 successful exits. AlgoFace’s funding will be unlocked upon the completion of certain milestones in the six-month Venture Ready Accelerator program.

The ACA’s Venture Ready Accelerator program is an initiative designed to support and propel high-growth startups and early-stage companies towards success. It aims to prepare these businesses for the competitive market by providing them with essential resources, mentorship, and strategic guidance. The program often involves a series of rigorous training sessions, workshops, and networking opportunities, all structured to refine business models, enhance pitch skills, and facilitate access to potential investors and industry experts.

By participating in the Venture Ready Accelerator, startups are expected to accelerate their growth trajectory, improve their viability, and increase their chances of securing investment and market expansion.

“We are honored and humbled to have been chosen as one of the 10 recipients of the AIC 2023 awards and to become an ACA portfolio company,” said AlgoFace co-founder and CEO Andrew Bart. “As a member of the ACA’s illustrious group of startups, we look forward to accelerating our path of success.”

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February 27, 2024 – by the FindBiometrics Editorial Team