From Governor’s Office:
Gov. Kay Ivey is adding some fuel in the form of a $580,000 grant to a program that helps entrepreneurs and upstart companies get off the ground with their business ideas.
The grant will support the Alabama Launchpad, a program directed by the Economic Development Partnership of Alabama Foundation which, through a competitive process, offers entrepreneurs an opportunity to be awarded money to develop their business.
“From George Washington Carver and his work with the peanut, to Mary Anderson, inventor of the windshield wiper, innovation has and always will be a part of the Alabama spirit,” Ivey said. “I am pleased to support the Alabama Launchpad program as it provides additional incentive to Alabama entrepreneurs desiring to turn their visions into reality.”
The program supports an annual business plan competition and provides contacts and guidance in the business, banking and academic areas to help program participants’ 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 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.