Innovate Alabama has opened applications for the fourth round of the Innovate Alabama Supplemental Grant Program. Recipients of Phase I and Phase II federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are once again eligible to apply for up to $250,000 in additional funding through the program. Innovate Alabama's previous funders include aerospace technology companies, government contractors, and artificial intelligence pioneers from around Alabama.

This grant program supports Alabama's entrepreneurs and innovators, and this funding will bridge the gap between eligible and deserving small businesses and the resources they need to grow. This grant will boost Alabama's economy through job growth, community development and workforce, and let entrepreneurs across the country know that Alabama is a great place to grow their business.

“The Innovate Alabama Supplemental Grant Program has been one of our most successful initiatives since we launched the program in 2022,” said Cynthia Crutchfield, CEO of Innovate Alabama. “We are encouraged by the overwhelmingly positive response to the previous three funding rounds and look forward to continuing the program in 2024.”

Across three rounds, the Innovate Alabama Supplemental Grant Program injected more than $9 million into 50 innovative small businesses in Alabama, paving the way for further development. Thanks to new rules established in last spring's Game Plan Act, small businesses across the country now see Alabama as a rich entrepreneurial ecosystem where they can grow their businesses.Out-of-state businesses can now apply to innovate If you are participating in the Alabama Supplemental Grant Program and are selected to receive a grant, you have a 12-month grace period after receiving your grant to move to Alabama and meet other residency requirements. there is.

Eligible applicants have a valid Phase I or Phase II SBIR or STTR grant. The Phase I winner will be eligible to claim her 50 percent of the award, up to $100,000.Phase II recipients are eligible You can claim 50 percent of your award up to $250,000. The benefits of the Innovate Alabama Supplemental Grant Program are non-dilutive, allowing companies to receive funding without giving up any equity in their companies.

Applications for the 4th round of funding will close on February 16, 2024 at 5:00 PM Central Time. Award notification for this funding round will begin in March. Learn more Apply, visit innovatealabama.org/programs/supplemental-grant-program.