In its second round of supplemental grants, Innovate Alabama has awarded $3 million to small businesses across Alabama.
The businesses in Birmingham, Huntsville, Hoover and Madison received up to $250,000 to supplement federal Small Business Innovation Research and Small Business Technology Transfer grants they received.
“Innovate Alabama is helping innovators grow roots within the state by providing resources, like the Innovate Alabama Supplemental Grant Program, to assist business leaders who are looking for support in bringing their products to market,” said Cynthia Crutchfield, CEO of Innovate Alabama. “Access to capital, one of Innovate Alabama’s 2023 pillars, is essential to fueling entrepreneurial development, and we look forward to seeing the impact this investment will have on these small businesses and the broader innovation ecosystem.”
In its first round of funding in August 2022, Innovate Alabama awarded more than $4.5 million in funding to 30 small businesses. About $2.4 million remains during the 2023 fiscal year for rounds of grant funding.
The 19 companies receiving funding in this round included Arcarithm, Avilution, AVNIK Defense Solutions, GasTops, GeneCapture, NeXolve, Polaris Sensor Technologies, ReLogic Research, RippleWorx, SemanticGuard, SSS Optical Technology and Tango Tango, all in Huntsville; Analytical AI, Cleaned and Green, MRIMath, Sync and Tricorder Array Technologies, in Birmingham; Adjuvax, in Hoover; and Botts Innovative Research, in Madison.