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## Innovate Alabama’s Fourth Round of Supplemental Grant Program

Innovate Alabama has recently announced the recipients of the fourth round of the Innovate Alabama Supplemental Grant Program, a program that aims to support small businesses in the state. This round saw nearly $4 million being awarded to 22 deserving businesses, marking a significant investment in the local entrepreneurial ecosystem.

## The Impact on Small Businesses

Out of the 22 recipients, 17 are currently based in Alabama and have received an average of over $175,000 each. This injection of funds is expected to fuel growth, innovation, and job creation within these businesses, ultimately contributing to the overall economic development of the state.

## Expansion Beyond Borders

One notable aspect of this round of funding is the expansion of the Supplemental Grant Program beyond Alabama’s borders. The program has attracted five new businesses to relocate into the state, under the condition that they move their headquarters and significant team members to Alabama within the next 12 months. This initiative not only strengthens the local business community but also showcases the state as an attractive destination for entrepreneurs.

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## Innovate Alabama’s Mission and Achievements

Innovate Alabama, as the state’s first public-private partnership dedicated to entrepreneurship and innovation, is committed to fostering a thriving ecosystem for innovators. Through initiatives like the Supplemental Grant Program, the organization has awarded over $13 million to 68 grant awardees since August 2022, highlighting its significant impact on the local entrepreneurial landscape.

## Empowering Alabama’s Economy

The funding provided through the grant program serves as a vital resource for Alabama entrepreneurs, enabling them to leverage promising technologies and research for success. By promoting job creation, community advancement, and workforce development, these grants are poised to energize the state’s economy. Furthermore, they send a strong message to entrepreneurs nationwide, reinforcing Alabama’s reputation as a prime destination for business growth and development.

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