Innovate Alabama has announced that it has allocated nearly $4 million to support 22 small businesses in Alabama. The recipients of the funding include 17 small businesses currently based in Alabama, specifically in Auburn, Birmingham, and Huntsville, receiving an average of over $175,000 each. The remaining 5 out-of-state recipients are required to relocate their headquarters to Alabama within the next year as part of the funding agreement.
In a statement, Innovate Alabama CEO Cynthia Crutchfield expressed pride in providing opportunities to local businesses while also attracting new businesses to the state. She highlighted the significance of this funding round, which marks the largest class of Supplemental Grant recipients to date and demonstrates the organization’s commitment to expanding access to resources for businesses statewide.
The supplemental grants were awarded to businesses that had previously received federal Phase I or II SBIT or STTR grants. The recipients of these supplemental grants include companies like Adjuvax LLC, Alveolus Bio, Biomineral Systems LLC, Bluejireh, CerFlux Inc., Dynamac Microwave Inc., Eikon Research Inc., Endomimetics LLC, Ethar Inc., IERUS Technologies, Impact Cooling Inc., Inovodel Inc., Linc Research Inc., Nanoxort LLC, Outpost Technologies Inc., Pentamer Biologics LLC, Reliant Technologies Inc., RippleWorx Inc., Systems Visions LLC, Vanquish Bio
