Montgomery, AL — Governor Kay Ivey has awarded $580,000 to encourage entrepreneurship in Alabama and help create future jobs.
The grant to the Birmingham-based Economic Development Partnership of Alabama will support the Alabama Launchpad program which through its competitions and guidance boosts and nurtures innovation and entrepreneurship in the state to create new products and ideas.
“This program is the American dream on an Alabama scale,” Gov. Ivey said. “Each year Alabama’s best show case their talents where they hope to catapult their ideas and innovations into successful and thriving companies.”
The Alabama Launchpad program supports annual business plan competitions and provides upstart companies with contacts with expertise in business, banking, research and other areas to help the companies succeed and market their products.
The Alabama Department of Economic and Community Affairs is administering the grant made possible by the Alabama Research Alliance Trust Fund.
“Gov. Ivey is an admirer and supporter of innovation and people who start from the ground up,” ADECA Director Kenneth Boswell said. “ADECA is pleased to join Gov. Ivey in supporting the Alabama Launchpad program to provide spark to those ideas and innovations.”
Gov. Ivey notified Steve Sewell, executive vice president of the Economic Development Partnership of Alabama Foundation, that the grant had been approved.
ADECA administers an array of programs supporting law enforcement and traffic safety, economic development, energy conservation, water resource management and recreation development.