BIRMINGHAM — Tuesday is the day – mark it on your entrepreneurial calendar.
That’s when Innovate Alabama opens applications for the second round of its supplemental grant program.
Alabama-based recipients of Phase I and Phase II Federal Small Business Innovation Research and Small Business Technology Transfer grants are eligible to apply for up to $250,000 in supplemental funding.
The program supports Alabama entrepreneurs and innovators, and, even better, the disbursement of funding advances Alabama’s economy.
“Alabamians have always been innovators – from cutting-edge agricultural techniques and the creation of windshield wipers to the invention of the first portable electric hearing aids and the Saturn V rocket that took humans to the moon,” said Cynthia Crutchfield, Innovate Alabama CEO.
“At Innovate Alabama, we are on a mission to continue fostering Alabama’s rich history of innovation by providing entrepreneurs the necessary capital and resources, through initiatives like our grant program, to cultivate a thriving business and life right here in Alabama.”
During the first round last July, Innovate Alabama awarded more than $4.5 million to 30 enterpreneurs.
“Thanks to the Innovate Alabama Supplemental Grant, our team has had the opportunity to invest in resources that help grow our business and the state’s collaborative and expanding entrepreneurial ecosystem,” said Dr. Karim Budhwani, co-founder and CEO of CerFlux, and a first-round grant recipient from Birmingham.
“We were honored to receive this funding and grateful for Innovate Alabama’s leadership in advancing innovation within the state while placing an emphasis on supporting higher-risk but higher-reward and broader impact ventures, like CerFlux, that seek to drive innovation from new knowledge to address some of the most intractable challenges facing humanity.”
Eligible applicants must have had an active Phase I or Phase II SBIR or STTR grant on July 1, 2021, or later.
Phase I recipients are eligible to apply for 50% of their award up to $100,000. Phase II recipients are eligible to apply for 50% of their award up to $250,000.
“It was incredible to see the impact the first round of funding had on so many Alabama businesses,” said State Rep. Danny Garrett (R-Trussville), an Innovate Alabama board member. “By investing in startups with unique technology like these, our state is able to compete on a national and global scale.
“As Innovate Alabama continues to help innovators grow roots right here in Alabama, we hope to continue expanding the grant program’s reach to support more local entrepreneurs.”
The supplemental grant program awards are non-dilutive, meaning businesses receive the money without giving up shares of their company.
The application for the second round of funding opens Tuesday with a deadline to apply by 5 p.m., Feb.17.
Award notifications are in March.
Click here to learn more and apply.
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