If you’re a startup founder in Alabama, you might be wondering which of the SBDC incubator accelerator programs is best for your company. Here are some things to consider. One of the most important things is how you can reach your customers. Whether you’re promoting your business through sponsored events or hosting your own, it’s important to have a plan for sustainable growth. With the proper guidance, you can find a program that’s right for your company.
Startup accelerator programs provide resources, mentoring, and funding to growth-oriented companies, usually in exchange for a stake of ownership. Accelerators are designed to help startups grow quickly and scale, while incubators provide assistance over a long period of time. See which Alabama startup accelerator and incubator programs are best for your business.
ScaleUp Birmingham
Founders of high-growth Seed and Series A stage companies in Birmingham, Alabama, can benefit from the ScaleUp program. The six-month program, which requires approximately three hours per month, is designed to provide individualized support, hyper-curated mentorship, and a growth toolbox. Participants are exposed to executive coaching and monthly roundtables with a local cohort. This program is designed to help entrepreneurs scale their business into an internationally recognized brand.
The ScaleUp Birmingham SBDC incubator accelerator for startups provides access to mentors, investors, and shared resources. The program supports entrepreneurs in all stages of their company’s growth, including those with limited funds. It also provides access to a community of peers and networking opportunities. Founders in the program can apply for a one-year, full-time position with a salary and equity in the company.
The ScaleUp Birmingham SBDC incubator is open to any type of startup with a product, service, or idea. Its alumni have built a diverse range of companies and are making a name for themselves in a variety of fields. ScaleUp Birmingham SBDCs provide an environment that encourages creativity and innovation, which helps start-up companies grow and flourish. This incubator also offers mentorship, seed capital, and connections to corporate partners and investors.
ExCITE
If you are a startup founder in Alabama, you may want to consider applying to an accelerator program. Incubator programs are generally designed to help you build your startup, but some are more intensive than others. The ExCITE SBDC incubator accelerator program can help you scale your business by providing the tools and resources you need to succeed. In addition to mentoring from other entrepreneurs, this program also offers a community of peers.
The Mobile-based incubator Innovation Portal is a nonprofit innovation center dedicated to startup growth in the central Gulf Coast and southwest Alabama. The Innovation Portal was designed and developed by the Mobile Area Chamber of Commerce and the University of South Alabama. The innovation center also has the support of other public and private partners, including Alabama Power, Blue Cross Blue Shield of Alabama, U.S. Economic Development Administration, Techstars, Alabama Launchpad, and the Alabama Small Business Development Center.
The ExCITE SBDC accelerator program has raised over $30 million in seed funding since its inception. It is unique in that it has a greenhouse and is located in a small town with abundant resources for ag tech. Additionally, it offers free consulting with entrepreneurs in residence and access to financial resources. With so many options to grow your business, you can find the right program for your company.
EPIC SBDC
One of the benefits of establishing a new business in Alabama is the entrepreneurial support it can give to a budding entrepreneur. While the state may be small, it is home to several successful companies such as Mercedes, Hyundai, and Honda, among many others. There are a number of incubator accelerators available throughout Alabama, and each one has its own set of advantages for aspiring entrepreneurs. This article will discuss the pros and cons of each program, and what you can expect from each one.
ExCITE is a co-working space in the city that houses 21 startups at various stages of development. The incubator also provides mentorship, workshops, and business resources. Graduates of the program include DeepBits, SmartBot360, StarNav, Apsidal, and Globe BioMedical, which is transforming the world of eye care. Other companies in the incubator include Blue Social, the first Bluetooth-based social network, and Kids That Code, an educational program for children in STEAM fields. All of the graduates choose to stay in the Riverside area, citing the high-quality talent base and vibrant downtown as reasons for staying.
Innovation Portal is an innovative hub in downtown Mobile that focuses on accelerating the growth of startups. The incubator has received several public and private partners, including the University of South Alabama and Mobile Area Chamber of Commerce. It has also gained the support of Techstars, Alabama Launchpad, and the Alabama Small Business Development Center. The innovation portal is designed to encourage innovation and creativity in the city. The innovation portal is a one-stop-shop for entrepreneurs, and it has the potential to create jobs, boost the local economy, and help Alabama businesses flourish.
Velocity
As a startup founder, you may be looking for an incubator accelerator to help grow your business. Incubators like Velocity can help you meet the needs of your customers. The accelerator program focuses on product-market fit and business development. Its graduates have become successful companies that impact communities across the country. It is also backed by the University of Waterloo, a world-renowned research and innovation hub.
As part of its startup accelerator program, Velocity SBDC accepted seven startups from a wide range of sectors. These companies will work with the program for three months and receive $50K in seed funding and 6% equity. The program also includes mentorship and connections to corporate partners and investors. After a successful completion of the program, the startups will pitch their business to investors in a demo-day.
Another incubator accelerator for startup founder in Alabama is the Innovation Depot, which invests $50,000 in each startup. The program’s sponsors include Jefferson County, Regions Bank, PNC Bank, Blue Cross Blue Shield/The Caring Foundation, Community Foundation of Greater Birmingham, EBSCO, and others. The accelerator program also offers a unique opportunity to pitch for additional grant funding. The four companies selected for the program include CuddlyTails, a technology platform for dog owners. This product connects verified dog owners with their neighbors who share the same interests. Another startup is Datalus, a privacy-focused browser with a crypto token.
The program also offers follow-on grant funding to startups that succeed in their venture. Three companies have been chosen to receive follow-on funding from the accelerator. Fundrage, a Google Chrome extension that empowers users to make timely charitable donations in response to current events, is one of the winners. The program is a great place to grow your company. So get in touch with the team and start growing your company!
Food Business Incubation Network
The Food Business Incubation Network (FBIN) is an entrepreneurial community dedicated to helping food entrepreneurs launch and scale their businesses. Its shared kitchens, training sessions, and expert support help entrepreneurs develop and expand their food enterprises. The incubator’s mission is to help food entrepreneurs achieve financial success and a sustainable business model. A few of its resources include a shared commercial kitchen in Birmingham and mentorship from experienced food industry entrepreneurs.
Creating a great product or service is essential, but it is not enough to make money. You need to market your business and attract new customers. In addition, a strong brand identity is essential. Creating a logo is essential to build a positive brand image. A memorable brand identity helps people remember you, and it also helps them establish trust in your product.
Funding is another key component of your marketing strategy. Startups need funding to pay for the initial expenses, build inventory, and weather slow seasons. Finding the right funding sources is crucial to your success. You can also use social media, both through paid advertising and regular content publishing. Popular social media platforms include Facebook, Instagram, Twitter, LinkedIn, Quora, and Reddit.
EDGE Labs
The EDGE Labs, an incubator accelerator for startup founders in Alabama, is a two-story, 26,000-square-foot facility managed by the Alabama Entrepreneurship Institute. The facility offers workstations, co-working spaces, meeting rooms, and open collaboration areas for entrepreneurs. EDGE offers a mentorship program and workshops in marketing and business development.
The incubator’s mission is to support the growth of new businesses by providing the technical infrastructure needed to launch successful businesses. In addition to helping startup entrepreneurs, EDGE Labs also provides technical support to UA faculty and researchers who are developing new products. UA President Stuart R. Bell noted the importance of aligning entrepreneurial resources on campus with the goal of creating jobs. The incubator will become part of the Alabama Entrepreneurship Institute and be integrated into the Alabama Entrepreneurship Institute’s suite of resources.
The EDGE is a high-tech, entrepreneurial facility in Tuscaloosa, Ala., designed to foster collaborative efforts among entrepreneurial ventures in West Alabama. The EDGE is located at 2627 10th Ave., about 1.5 miles from the University of Alabama campus. The incubator is home to more than 40 businesses, and a number of small businesses have emerged as successful companies.
Techstars Alabama Power EnergyTech Accelerator
If you have a startup with a green focus that is worthy of presenting, Techstars could be the accelerator program for you. Techstars Alabama Power EnergyTech Accelerator is focused on climate tech, energy efficiency, and clean tech. The chosen startups are usually involved in energy distribution, wind energy or smart grids. However, they will consider other related businesses that have a focus on sustainability, electric vehicles, and customer experience.
The Techstars Network is located in Birmingham, and funded by Alabama Power. This gives it a close proximity to one of the largest energy producers. The Techstars program runs for three months, during which startups partner with mentors, investors and alumni. The startup accelerator offers funding, fundraising, workshops and resources.
Techstars has invested over $23 billion to fund more than 3,400 businesses. The average amount raised by graduates is $1 million. Techstar will invest as much as $120,000 into each accelerator startup. They receive 6% of the fully diluted stock and $20,000 in exchange.
First Avenue Ventures
First Avenue Ventures, a private business incubation located in Birmingham Alabama. The Birmingham-based business incubator has a mission of helping to grow entrepreneurial organizations within the Birmingham community. The incubator had more than 100 startups in its portfolio and completed 15 exits over the last three years.
First Avenue offers two funds: the Opportunity Fund, and the Life Science Fund. The Opportunity Fund invests $100,000 to $5000 in high-growth companies with the potential to generate significant capital. Casa and Linq are notable portfolio companies.
First Avenue Ventures invests in its incubator startups with capital, management insights, and resources. They also support their portfolio startups with strategic advicement, accountability and marketing assistance. They claim to have a large network in the area that they can use to accelerate certain startups.
New Venture Accelerator
The New Venture Accelerator leverages a team of Entrepreneurs-In-Residence to support qualified applicants interested in starting a new business or growing an existing one. The New Venture Accelerator, managed and governed jointly by Auburn University’s Harbert College of Business and Auburn Research and Technology Foundation, is a program of the Auburn Research and Technology Foundation.
New Venture Accelerator is a program that focuses on entrepreneurs from the Auburn-Opelika region and surrounding communities. This is done by providing mentorship to these entrepreneurs, who are taught how to do market research, find investors and develop effective pitch strategies. The summer workshops are also free for entrepreneurs.
This accelerator has launched 50 successful businesses, which have attracted over $47,000,000 in venture capital and created more than 370 jobs. A recent grant from the US Economic Development Administration funded the expansion of the program. Portfolio companies like Yellow Card, Flashtract and Vulcan Line Tools are notable.
Shoals Business Incubator
The Shoals Incubator, located in Florence is a key economic player in the Shoals Region of Northwest Alabama. It boasts a 90% rate of success and has supported more than 2,500 jobs in the locality. It provides facilities and resources for companies in the Shoals Region that are looking to innovate.
SBI’s slogan is “If you dream it, you can achieve it with us.” The company backs this statement up by offering its portfolio companies three unique facilities, which include industrial and manufacturing space as well as office and food production space. Portfolio companies are provided with funding, access commercial facilities, technical assistance, and business counseling.
SBI maintains a partner network to help its incubator startups get the critical support they need to be successful.
Wiregrass Economic Development Corporation
Wiregrass Economic Development Corporation can help you start a manufacturing business in Southeast Alabama. The Enterprise Business Incubator, located in Enterprise’s Yancey Park Industrial Park, offers accepted applicants investor opportunities, discounted space, office equipment and small business resources.
Wiregrass Economic Development Corporation has a mission to promote responsible economic development in the counties of Coffee, Geneva and Daleville. This mission is made possible by its Enterprise Business Incubator, which partners with investors like Alabama Power Company and the City of Enterprise.
Innovation Portal
Innovation Portal focuses on accelerating startup development in the Gulf Coast area. The Portal Fund at Innovation Portal offers pre-seed investment to entrepreneurs who are in the early stages of developing high growth companies in South Alabama and Gulf Coast Region. This fund provides seed capital to these startups, as well as access to milestone-based mentorship, workspaces, and a community focused on growth.
The Portal Fund offers investments between $10,000 and $50,000. The funding is in the form a loan, which can be converted into equity when a funding event occurs. Four ventures received funding totaling $135,000 since 2019. The fund is aimed at high-growth ventures in the Gulf Coast Region or those willing to relocate there.
The EDGE
The Edge is an initiative of the West Alabama Chamber of Commerce and Tuscaloosa City. Its goal is to create an environment that encourages entrepreneurship, personal initiative, and business growth. The EDGE offers a workspace as well as a system of business support. It hosts workshops, forums and informal gatherings to promote growth, innovation and jobs.
The EDGE, located in Tuscaloosa close to the University of Alabama in a facility of 26,000 square feet, works to create a supportive community for entrepreneurs. The program began in 2012. The EDGE provides 20 offices, 100 desks and conference rooms for established entrepreneurs, individuals seeking to start a business, or those who are looking for a workspace. For more information, please contact the EDGE.
Bronze Valley
Bronze Valley Investment accelerator invests $100,000 or more in high-growth startup companies. It focuses on founders who have been historically excluded from capital access, including women and entrepreneurs of colour. Over the past two years, the Bronze Valley Accelerator worked with 20 companies divided into four cohorts. These companies collectively raised more than $8 million in venture funding after completing the program.
The Bronze Valley Investment Accelerator, based in Birmingham, is a national accelerator which invests up to five businesses per year led by entrepreneurs who are underrepresented. Each participating startup will receive a $100,000 investment as well as 12 weeks of concierge-based mentorship programming.
The BGV Connect Incubator
The Black Girl Ventures Connect Incubator has been created to help Black Girl Ventures achieve its mission of accelerating 100,000 Black/Brown Women. The BGV Connect Incubator finances and scales tech-enabled, revenue-generating businesses under $1M that are led by female black or brown entrepreneurs. The BGV Connect Incubator also hosts the biggest investor pitch competition for female founders who identify as black or brown. Check the site for the latest updates on the submissions.
Shelly Bell founded the Black Girl Ventures Foundation in 2016 to address the unique challenges Black/Brown Women face when it comes to accessing financial and social capital to grow their business. BGV has supported 450 women of colour, hosted over 50 Pitch programs in 15 cities and helped over 10,000 entrepreneurs. BGV’s pitch participants have created over $10M in revenues and 3,000 new jobs. BGV offers three programs: BGV Pitch (BGV NextGen), BGV Emerging Leaders, and BGV Emerging Leaders. It is the largest ecosystem for Black/Brown female founders in the East Coast.
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