Designed to help high-growth companies start, stay and grow in Alabama while supporting entrepreneurship statewide, the Alabama Launchpad program is getting a hefty investment from Gov. Robert Bentley to continue its mission.
Bentley is awarding the 10-year-old program of the Economic Development Partnership of Alabama a $707,488 grant.
“Alabamians benefit when our entrepreneurs can turn innovative ideas into companies that create jobs,” Bentley said. “Alabama Launchpad offers important resources to help startup companies transform from dreams to viable businesses.”
According to the Alabama Launchpad’s 2015 Annual Report, the program has created 365 jobs over the past decade.
Throughout 2016, Alabama Launchpad is hosting multiple rounds of “Shark Tank”-style business-plan competitions with winners receiving a share of up to $250,000 to further develop their businesses.
Since its inception in 2006, Alabama Launchpad has awarded $2.3 million to 51 companies.
The next round of the Alabama Launchpad competition begins in mid-October.