Innovate Alabama awards $4 million to small businesses

Money will go to 22 companies

In its largest funding round yet, Innovate Alabama has awarded nearly $4 million to 22 small businesses in Alabama.

Of the 22 recipients, 17 of the small businesses are currently based in Alabama (Auburn, Birmingham and Huntsville) and received an average of more than $175,000. The remaining 5 out-of-state recipients are required to relocate their headquarters to Alabama from Delaware, Florida, Illinois and Wyoming within the next 12 months as part of the funding agreement.

“With this new round of funding, we are proud to continue providing opportunities to our homegrown businesses while also recruiting new businesses to the state,” said Innovate Alabama CEO Cynthia Crutchfield. “This largest class of Supplemental Grant recipients to date is a testament to the growth of what Innovate Alabama is working to accomplish by increasing access to resources for businesses across the state.”

The supplemental grants go to businesses who previously received federal Phase 1 or II SBIT or STTR grants.

The supplemental grants went to 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 and XO Armor Technologies Inc.

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