Alabama companies have until Friday to apply for Innovate Alabama grants offering up to $250,000 in supplemental funding for federally backed research and technology projects.
Innovate Alabama extended the application deadline for its Supplemental Grant Program to July 17.
The program provides additional state funding to Alabama-based companies that have received Phase I or Phase II awards through the federal Small Business Innovation Research or Small Business Technology Transfer programs.
Companies that received an eligible federal award on or after July 1, 2024, may apply.
Phase I recipients can seek funding equal to 50% of their federal award, up to $100,000. Phase II recipients can apply for 50% of their award, up to $250,000.
“Alabama’s entrepreneurs continue to develop technologies with the potential to solve real-world challenges and compete on a national stage,” said Cynthia Crutchfield, CEO of Innovate Alabama.
“The Supplemental Grant Program helps those companies take the next step, turning research into products, businesses and jobs across the state.”
The grants are non-dilutive, meaning participating businesses do not have to surrender ownership shares in exchange for the funding.
Recipients can use the money to hire skilled workers, test products, conduct market research, protect intellectual property, develop business plans and complete technical work.
Innovate Alabama said the program is designed to help companies move federally reviewed technologies from research and development toward commercialization while keeping growing businesses rooted in the state.
The organization reports that it has awarded more than $17 million through the program, supporting 98 small businesses across 11 Alabama cities.
Those investments have created or retained 289 jobs, according to Innovate Alabama.
Companies that have not received a federal SBIR or STTR award are not eligible for the supplemental program.
Applications are available through Innovate Alabama’s website. Questions can be directed to [email protected].
Sawyer Knowles is a state and political reporter for Yellowhammer News. You may contact him at [email protected].
