March 14, 2022 Group Watch: Alabama Innovation Corporation Board Holds First Meeting
The Alabama Innovation Corporation board of directors recently held its first meeting. Established through legislation signed by Governor Kay Ivey, the Alabama Innovation Corporation is charged with implementing policies designed to make Alabama a hub for technology, innovation and entrepreneurship. The board was officially seated in December and is chaired by state finance director Bill Poole, and will partner with the private sector, governmental entities and lawmakers to craft programs and policies to support the state’s innovation sector. In 2021, the legislature appropriated $10 million to the Innovation Corporation, with $5 million of the funds being used for the Innovate Alabama Matching Grant Program. The program will grant funds of up to $250,000 to awardees of the federal Small Business Innovation Research and Small Business Technology Transfer programs. Poole commended Governor Ivey and the legislature for their support of corporation’s mission to bolster Alabama’s innovation economy.
