November 2, 2025 · More Stories
Alabama’s Collaborative Model Shines at Inc. 5000
When Innovate Alabama joined this year’s Inc. 5000 Conference in Phoenix, the message was clear: in Alabama, collaboration is the engine driving innovation. The exclusive event brought together business leaders from the 2025 Inc. 5000 list of America’s fastest-growing private companies.
Alabama’s Inc. 5000 Debut
Innovate Alabama hosted a panel titled “Alabama’s Collaborative Approach to Startup Growth.” The conversation featured leaders across Alabama’s innovation landscape: Angela Smith from the Alabama Department of Commerce, Audrey Hodges from the Economic Development Partnership of Alabama (EDPA), Charlie Pond from Innovate Alabama and Olumuyiwa “Olu” Aladebumoye, co-founder of Birmingham-based SmartWiz.
Together, the panelists painted a vivid picture of how Alabama’s public and private sectors are working hand in hand to help companies succeed. The session drew strong interest from out-of-state attendees seeking to understand the state’s approach.
A “No Wrong Door” Approach
Speakers emphasized Alabama’s coordinated system: companies that engage with one partner organization gain access to the full network of state and regional resources.
“If one of us knows you, you have access to all the resources, and we will help you navigate what that next step is for you in Alabama,” Smith said.
Panelists highlighted the state’s investment in capital access, workforce training, site selection support and talent development programs that make it easier for companies to start and scale here. Rather than navigate multiple programs alone, businesses receive what participants described as “white-glove service” from partners who work together to meet their needs.
Charlie Pond, executive director of the State Small Business Credit Initiative (SSBCI), framed the advantage this way:
In Alabama, our size works in our favor. Our connected network allows organizations to collaborate seamlessly, giving companies the connections, support and visibility they need to grow.” — Charlie Pond
The SmartWiz Story
The clearest validation came from Aladebumoye, whose company is now one of only 16 IRS-approved tax software providers worldwide. Founded in 2021 by five Auburn University graduates, SmartWiz started with a simple idea — to take the headache out of tax season — and has since become one of Birmingham’s leading fintech success stories.
Based at Innovation Depot, the Southeast’s largest tech incubator and a partner of Innovate Alabama’s Tax Credit Program, SmartWiz has tapped into nearly every corner of the state’s support network. The company earned early funding through EDPA’s Alabama Launchpad competition, joined the Birmingham Business Alliance’s (BBA) Small Business Intensive program and secured a $500,000 investment through Innovate Alabama’s SSBCI program. AIDT, the Department of Commerce’s workforce development division, also provided $780,000 in training assistance.
When Los Angeles investors offered $3 million for SmartWiz contingent on relocating, the team had other plans.
We respectfully turned down the money and came back to Alabama. There wasn’t ever a time that we felt like there was a roadblock or anything stopping us from achieving what we needed to achieve.” — Aladebumoye
SmartWiz is now adding 66 jobs in Birmingham as part of its next phase of growth. The expansion is expected to generate nearly $9.6 million in economic impact over the next two decades.
Looking Ahead
The Inc. 5000 Conference offered a national platform to share how Alabama’s business climate and quality of life continues to attract growing companies. As Smith noted, “The barrier to entry to succeed in Alabama is just a willingness to hustle. We have all the resources. If you put in the work, you’re sure to do well here.”
Innovate Alabama returned from Phoenix with renewed commitment to strengthen the state’s network of support and to continue showing how collaboration fuels opportunity across the state.
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