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September 27, 2018
Gov. Ivey awards grant to support innovation in Alabama

MONTGOMERY— Gov. Kay Ivey has awarded a $580,000 grant to an organization that nurtures upstart Alabama companies and innovators and helps them succeed in the business world.

The grant will support the Alabama Launchpad, a program directed by the Economic Development Partnership of Alabama Foundation that provides opportunities for entrepreneurs to develop and start businesses to sell their goods or services.

“The Alabama Launchpad program falls in line with my desire to help Alabama companies grow and succeed and create jobs for more Alabamians,” Ivey said. “Through encouragement and financial rewards, this program helps entrepreneurs take that important next step in getting their product or service to market.”

The Alabama Launchpad supports annual business plan competitions and provides contacts and guidance in the business, banking and academic areas to help participating upstart businesses succeed.

The Alabama Department of Economic and Community Affairs is administering the grant from the Alabama Research Alliance Trust Fund. Interest earned by the trust fund supports projects pertaining to new technology and innovation.

“ADECA is pleased join Gov. Ivey as a partner in this process that involves old-fashioned innovation and hard work with needed guidance and support to equal success,” ADECA Director Kenneth Boswell said.

ADECA administers an array of programs supporting law enforcement and traffic safety, economic development, energy conservation, workforce development, water resource management and recreation development.

Ivey notified Angela Wier, vice president of EDPA, that she approved the grant.


Contact Jim Plott or Mike Presley

For more information, visit:  http://www.adeca.alabama.gov/