Innovate Alabama, the state’s public-private economic development organization, recently awarded more than $2.1 million to 15 small businesses across the state, the majority of which operate in the defense or artificial intelligence sectors.
The funding comes from the state’s Innovate Alabama Supplemental Grant program. Since its launch in July 2022, the program has awarded nearly $10 million in total grant funds.
“This year, we’ve expanded our efforts to boost Alabama small businesses through the Supplemental Grant Program,” said Cynthia Crutchfield, CEO of Innovate Alabama, in a statement.
“Access to capital, one of Innovate Alabama’s core pillars, can make the difference in these small businesses bringing their research to market. We look forward to seeing the cascading effect these investments will have on these small businesses and the broader innovation ecosystem as we continue the program into 2024.”
The 15 companies were awarded up to $250,000 of supplemental funding in this latest round of grants, and are mostly based in Huntsville, and operating within the defense, aerospace, software development and technology sectors. The 15 companies are also more than 25% minority and women-owned.
Expanding the ASG program was a key component this past legislative session of Gov. Kay Ivey’s economic incentive package dubbed “The Game Plan,” with one of its four pillars – the Innovation Act – directing grants through Innovate Alabama to underserved areas and underrepresented groups.
View the 15 businesses awarded the $2.1 million in grants below:
- Biotechnology research company based in Boston researches and develops therapeutics for lung diseases.
- Software development company in Birmingham specializing in artificial intelligence technology.
- Defense and space company in Huntsville specializing in artificial intelligence.
- Research services company in Huntsville specializing in engineering simulations for aerospace, defense and energy industries.
- Defense and space company in Huntsville that provides engineering services, with a focus on advanced sensors.
- Business consulting and services company based in Austin, Texas that works with electronic toll collection operators to develop operating systems.
- Huntsville defense and space company that researches and develops weapon systems for commercial and defense industries.
- Domestic limited liability company in Fairhope.
- Huntsville defense and space company focusing on weapons systems analysis, engineering and testing.
Quadrus Advanced Manufacturing, LLC
- Software development company in Huntsville specializing in commercial software solutions and engineering services.
- Aviation and aerospace component manufacturing company based in Auburn focusing on aerodynamic and hydrodynamic analysis tools for aerospace engineering applications.
Summit Information Solutions, Inc
- IT services and consulting company based in Richmond, Virginia.
- Computer and network security company based in Huntsville, Alabama specializing in weapons platforms and critical infrastructure.
- Digital health company that develops products focused on diabetes and obesity management.
Zeus Research and Technology, Inc
- Huntsville research and technology development company specializing in navigation and defense systems.