ALABAMA INNOVATION FUND

Developed from significant and numerous stakeholders across the state at the directive of Governor Robert Bentley, the Accelerate Alabama plan guides economic development over the next several years. As part of the implementation of Accelerate Alabama, the State has created the Alabama Innovation Fund.

The purpose of this fund is to maximize the use of the State’s resources by leveraging annual research and development expenditures by Public Institution of Higher Education to generate resources which can be used to support economic development initiatives.

The Alabama Innovation Fund operates two (2) distinct programs administered by the Secretary of Commerce Greg Canfield. They are:

(1) The Renewal Program distributes grants to Public Universities based on each Public University’s federally financed research and development expenditures as reported over the preceding three (3) fiscal years by the National Science Foundation. Each Public University submitting an Application receives an amount that reflects that institution’s percentage of such expenditures reported by the National Science. The Renewal Program provides funding for early stage investigation and to help university-based technologies achieve commercialization.

(2) The Research Program funds are distributed, in keeping with the State’s goals to stimulate economic development as set out in Accelerate Alabama, to Public Institutions of Higher Education. The criteria used in making awards under the Research Program include:

  • The existence of a Public-Private Partnership involving a Project.
  • The likelihood of a Project to create patentable or other proprietary innovative technology capable of successful commercialization.
  • The likelihood of a Project to stimulate further research and development within the State.
  • The likelihood of a Project to contribute directly or indirectly to the creation of additional jobs within the State.

Six reviewers from Experimental Program to Stimulate Competitive Research(EPSCoR) were recognized by Governor Bentley at Alabama Launchpad earlier this month for their extensive work (and hours of reading proposals) on his and the Department of Commerce’s behalf.

  • Dr. Christopher Lawson, Executive Director, Alabama EPSCoR & Professor, University of Alabama Birmingham
  • Charlotte H. Nix, Alabama EPSCoR & Office of Research, The University of Alabama
  • Dr. Charles Prince, Assistant VP for Research, University of Alabama Birmingham
  • Dr. Joe Benson, VP of Research, University of Alabama
  • Dr. Lynne Chronister, VP for Research, University of South Alabama
  • Dr. Carl Pinkert, Associate VP for Research, Auburn University

[EPSCoR - Experimental Program to Stimulate Competitive Research]

Special thanks are due to Dr. Lawson who developed and helped to execute the review process.