Innovate Alabama is continuing to ignite growth and success in the state's business community through its grant awards process. The supercharged public-private partnership announced it has added 58 companies and organizations from across the state to receive a portion of a recent $14.9 million funding round.
The program reports it now supports more than 170 organizations driving innovation across Alabama
The businesses selected are part of Innovate Alabama's third round of designees for the organization's Innovate Alabama Network. The designees represent all three Innovate Alabama pillars: Talent Development, Lifestyle & Recreation, and Access to Resources.
In this application round, 18 Access to Resources, 22 Talent Development, and 18 Lifestyle & Recreation-focused organizations received an Innovate Alabama Network Designation. The round's total funding request exceeded $33 million. Award totals included approximately $12.8 million in project-specific funding and $2.1 million in general awards for new designees.
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"The Innovate Alabama Network is a catalyst, creating and strengthening our statewide network for innovation programming and bolstering entrepreneurship in all types of communities across the state," said Cynthia Crutchfield, CEO of Innovate Alabama. "We are encouraged by the continual growth of interest in the program, spurred by momentum built in the first two rounds of awards."
"Innovate Alabama is eager to harness this excitement to support designees through our most engaging and connective resources yet."
Mike Putman, executive director of Jasper Main Street, and an Innovate Alabama Network member, also emphasized the major impact the organization has had on the state's business community.
"Innovate Alabama has certainly been a game-changer in fostering entrepreneurship and economic development across the state. My perspective as an Alabamian and community leader gives me a unique insight into its real impact," said Putman. "Jasper Main Street is the model community where Innovate Alabama has made a tangible and lasting difference by fostering our new Jasper Welcome Center, which will be the only welcome center between Birmingham and Mississippi along I-22. This will not only bring commerce and community to Downtown Jasper but to our Great State of Alabama."