Innovate Alabama announces third round of supplemental grant funding to Alabama small businesses

BIRMINGHAM, AL (August 9, 2023) – Innovate Alabama has announced the third round of recipients of the Innovate Alabama Supplemental Grant, awarding more than $2.1 million to 15 small businesses across the state, reaching nearly $10 million in total funds awarded since the program’s launch last year. The funds will be used to help these local business owners grow roots in Alabama by supporting the development and marketability of modern technology.

After the success of the initial rounds of funding, the Supplemental Grant Program continues to enhance Alabama’s competitiveness on a regional and national level through increased research and commercialization efforts, the creation of exportable products and services and the development of high-wage job opportunities.

“This year, we’ve expanded our efforts to boost Alabama small businesses through the Supplemental Grant Program,” said Cynthia Crutchfield, CEO of Innovate Alabama. “Access to capital, one of Innovate Alabama’s core pillars, can make the difference in these small businesses bringing their research to market. We look forward to seeing the cascading effect these investments will have on these small businesses and the broader innovation ecosystem as we continue the program into 2024.”

Selected Alabama entrepreneurs who previously received Phase I or Phase II SBIR or STTR grants were awarded up to $250,000 of supplemental funding to support the growth of their small businesses. Recipients of this round of the Innovate Alabama Supplemental Grant are located in Auburn, Birmingham, Huntsville and Prattville.

Since August 2022, Innovate Alabama has awarded more than $7.5 million in grant funding to 45 small businesses during the first and second rounds of the program.

Recipients from this round of the Innovate Alabama Supplemental Grant Program include the following small businesses:

• Alveolus Bio
• Analytical AI, Inc
• Archarithms, Inc
• CFD Research Corporation
• EngeniusMicro
• Fagan Consulting
• IERUS Technologies, Inc.
• J-TECH LLC
• Outpost Technologies
• Quadrus Advanced Manufacturing, LLC
• Research in Flight
• Summit Information Solutions, Inc.
• SemanticGuard, Inc.
• Xplosion Technology
• Zeus Research and Technology, Inc.

###

About Innovate Alabama 

Innovate Alabama is Alabama’s first statewide public-private partnership focused on entrepreneurship, technology and innovation with a mission to help innovators grow roots here in Alabama. Innovate Alabama was established to implement the initiatives and recommendations set forth in the Alabama Innovation Commission’s report, including smart policy solutions that will create a more resilient, inclusive and robust economy to remain competitive in a 21st-century world. With founding CEO Cynthia Crutchfield leading the charge, Innovate Alabama is also made up of a board of 11 innovation leaders appointed by Gov. Ivey, collaborating across sectors to advance industries, drive technology and facilitate an environment where innovation and entrepreneurship thrive. Learn more about Innovate Alabama at www.innovatealabama.org.