In its largest funding round to date, Innovate Alabama has awarded almost $4 million to 22 small businesses across the state. Out of these 22 recipients, 17 are located in Alabama, specifically in Auburn, Birmingham, and Huntsville, and they received an average of over $175,000 each. The other 5 recipients from out-of-state are required to move their headquarters to Alabama within the next year as part of the funding agreement.
Innovate Alabama CEO Cynthia Crutchfield stated that this new round of funding is a testament to the organization’s commitment to providing resources for homegrown businesses while also recruiting new businesses to the state. This largest class of Supplemental Grant recipients shows the growth of Innovate Alabama’s efforts to increase access to resources for businesses across the state. The supplemental grants are given to businesses that had previously received federal Phase I or II SBIT or STTR grants.
The 22 small businesses that received the supplemental grants include 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, VETS LLC
