Innovate Alabama offers grant money to small businesses

Published: Feb. 6, 2023 at 7:14 AM CST
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TUSCALOOSA COUNTY, Ala. (WBRC) - Grant money is available for small businesses looking to be on firmer financial footing. It’s part of a statewide program called Innovate Alabama that is already benefitting some West Alabama businesses.

Three companies based in Tuscaloosa and other parts of West Alabama received grant money from the program during the first round of funding. Now, people at the University of Alabama and the Chamber of Commerce of West Alabama want businesses to get their fair share of funding during the second round of funding.

The goal is to support entrepreneurs from underserved groups and help turn their ideas into action in order to start and grow businesses in Alabama. The grants benefit small, technology-based companies. Alabama-based recipients of phase one and phase two federal small business innovation research and small business technology transfer grants can apply for up to $250,000 in supplemental funding.

Dan Blakely, Associate Vice President of economic and business engagement at the University of Alabama, says Innovate Alabama will provide state matching funds of up to $250,000 to business awarded those federal grants first. “It’s a great way for innovators in Alabama to take their ideas into reality. And I think it’s great the state is supporting this. I think it’s great for creating jobs for this state. I think it will help with economic development and will help with general innovation and economic diversification too,” Blakely added.

Applicants are strongly encouraged to apply here before the deadline ends at 5 p.m. on February 17th.

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