New policies expected to spur growth in Alabama’s innovation economy

“I applaud the work of the commission and its leadership in continuing to advance the state and stimulate a diverse and resilient economy,” she added.

Members of the Commission, entrepreneurs and lawmakers joined Governor Ivey in commemorating the enactment of Alabama’s new innovation policies.

MAJOR OBJECTIVES

“These innovation policies will serve to significantly advance our economy, creating more technology-based jobs and growth opportunities in every corner of the state.”

House Bill 540, sponsored by Representative Bill Poole of Tuscaloosa, created the Alabama Innovation Corp., a public-private partnership tasked with growing the state’s technology and innovation ecosystem.

House Bill 609, sponsored by Rep. Jeremy Gray of Opelika and Senator Rodger Smitherman of Birmingham, created the Innovate Alabama matchmaking program as the Innovation Corp. will supervise. The program will match federal awards to Alabama-based Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grantees.

“These innovative and smart policies will shape Alabama’s future and exponentially increase Alabama’s competitiveness in a global economy,” said Representative Poole, chairman of the committee.

“Through the leadership of Governor Ivey, the Alabama Innovation Commission continues to collaborate and develop revolutionary opportunities that will put Alabama on the map as a leader in innovation,” he said. added.

Greg Canfield, secretary of the Alabama Department of Commerce, said the Alabama Innovation Corp. and the Innovate Alabama Matching program represent new tools that can help stimulate statewide entrepreneurship, rural businesses, R&D activities and new technological capabilities.

“These innovation policies will serve to advance our economy in meaningful ways, creating more technology-based jobs and growth opportunities in all corners of the state,” added Secretary Canfield, who is member of the advisory board of the Innovation Commission.

Learn more about the next Commerce campaign.

Next steps for the commission include producing a report with key findings on how to continue to grow Alabama’s innovation economy and tech-related industries. The report, due to be delivered to the governor by Oct. 31, will highlight policy recommendations to support and grow the innovation economy in Alabama.

“The commission is made up of some of the most talented innovators, private sector experts and policymakers from across the state, and our work will help develop technology accelerators and start-ups, ultimately creating a 21st Workforce of the Century that’s ready for the next generation of Alabama jobs, ”said Sen. Greg Reed, who is vice chairman of the Alabama Innovation Commission.

“We have had success over the past year and our work is only just beginning,” he said.


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