Innovate Alabama awards $4.5 million to small businesses

Funding seeks to support companies using their innovative technology to solve global problems

HudsonAlpha Institute for Biotechnology is home to several of the Innovate Alabama winners.

Innovate Alabama has awarded its first-ever round of funding, allocating $4.5 million to 30 companies across the state in grants up to $250,000.

“Thanks to the Innovate Alabama Supplemental Grant Program, the work of the Alabama Innovation Corporation and the Alabama Legislature, 30 small businesses across our state will have the opportunity to commercialize their technology to help solve global issues,” said Gov. Kay Ivey. “We are proud to support these entrepreneurs and business leaders who will leave a lasting impact on Alabama’s economy and pave the way for future generations of Alabamians.”

Bill Poole, Alabama director of finance and chair of the Alabama Innovation Corp., added, “In order to ensure that Alabama can compete in the 21st century economy, we must continue to pursue policies and initiatives that support the recruitment and retention of innovative companies and talent in our state.”

Alabama Innovation Board Member Dave King, former Dynetics Group president, said, “Thanks to the collaborative efforts of the Alabama Legislature and our state’s innovation ecosystem, we have the opportunity to connect forward-thinking entrepreneurs and innovators who are looking to make a difference across the state – from Huntsville to Bessemer to Mobile – with the capital they need to thrive. Through this program, our goal is to not only provide support to Alabama businesses but, more specifically, to those who need it most, including those led by minorities, women or Alabamians located in underserved areas.”

Winning firms work in biotechnology, defense, energy and other innovative fields.

- Sponsor -

Funding recipients are:

  • 525 Solutions Inc. of Tuscaloosa and Bayou la Batre
  • Accelerate Wind Inc. of Birmingham
  • AeroNeph Therapeutics Inc. of Birmingham
  • AI Metrics LLC of Birmingham
  • American Renewable Metals LLC of Bessemer
  • AVNIK Defense Solutions Inc. of Huntsville
  • BioGradMatch of Tuscaloosa
  • CerFlux Inc. of Birmingham
  • CFD Research Corp. of Huntsville
  • Clarity LLC of Mobile
  • EH Group Inc. of Tuscaloosa
  • Endomimetics LLC of Birmingham
  • EngeniusMicro of Huntsville
  • FreEnt Technologies Inc. of Huntsville
  • Gene Capture Inc. of Huntsville
  • MRIMath LLC of Birmingham
  • Nanoxort LLC of Auburn
  • NeXolve Holding Co. of Huntsville
  • Ossillate Inc. of Auburn
  • Outpost Technologies LLC of Huntsville
  • Polaris Sensor Technologies Inc. of Huntsville
  • Reliant Glycosciences LLC of Birmingham
  • Reliant Technologies Inc. of Huntsville
  • Serina Therapeutics Inc. of Huntsville
  • Streamline Automation LLC of Huntsville
  • Sunfire Biotechnologies LLC of Birmingham
  • Trac9 LLC of Huntsville
  • Trialtus Bioscience LLC of Birmingham
  • TruSpin Nanomaterial Innovation Inc. of Birmingham
  • Zeus Research and Technology Inc. of Huntsville.

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