April 22, 2024 Group Watch: More Innovate Alabama Funding Awarded
Innovate Alabama announced the recipients for the fourth round of the Innovate Alabama Supplemental Grant Program, awarding almost $4 million to 22 small businesses. For the first time, the Supplemental Grant Program has expanded beyond the borders of Alabama, bringing five new businesses to relocate into the state per the funding requirements, which state that grant recipients have a 12-month window after receiving grant funds to relocate their headquarters and the majority of their teams to Alabama. The five recipients are relocating from Delaware, Florida, Illinois and Wyoming. Innovate Alabama is the state’s first statewide public-private partnership focused on entrepreneurship, technology and innovation with a mission to help innovators grow roots in Alabama. The Supplemental Grant Program has awarded over $13 million to 68 entities since August, 2022.
