The SBA has awarded a $1M, 5-year contract under the Federal and State Technology (FAST) Partnership Program to Team Catalyst, consisting of The Catalyst Center for Business & Entrepreneurship, The Alabama Collective, and the GovCon Incubator by OST Global Solutions.
Governor Kay Ivey has endorsed this team and has emphasized the importance of technology and innovation for the state’s future, stating, “Alabama has always had a rich tradition of developing technologies to move our state forward. Now more than ever, we must capitalize on future opportunities by engaging our state’s trailblazers to discuss new ideas and policies that support entrepreneurship, economic development and jobs.”
FAST Grant’s objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based and socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America’s Seed Fund. This program invests over $4B into 4,000 small businesses annually, without equity or IP ownership taken by the government. “FAST funding, which fuels innovation to keep America competitive globally, has doubled under the Biden-Harris Administration. At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America’s innovative startups is a top priority. America’s Seed Fund, powered by the SBA and fueled by 11 federal agencies’ SBIR and STTR programs, is the largest source of early-stage funding in the world. With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it and build it with America’s Seed Fund in every corner of America,” said Administrator Guzman.
The Catalyst and Alabama Collective have a history of providing resources to rural, underserved and underrepresented communities through their existing programming and the HBCU Innovation Experience in the State of Alabama. The Catalyst bridges the gap and helps technology startups access resources and specialized training. To support the SBIR/STTR program, The Alabama Collective brings robust infrastructure, experienced leadership and extensive partnerships with Alabama’s 14 HBCUs. The GovCon Incubator brings six years of experience running an SBIR/STTR Proposal Lab, leveraging an innovative proposal development process used to help win over $26 billion in funded grants and contracts for small and large business clients.
Innovate Alabama, the state’s first statewide public-private partnership focused on entrepreneurship, technology and innovation, has committed $500,000 to fund this program. In addition, the Innovate Alabama SBIR/STTR Supplemental Grant Program has deployed more than $14 million in grant funding to 68 Alabama small businesses to support small businesses and university inventors whose proven business models and technologies will help advance Alabama’s regional and national economic footprint.
“Innovate Alabama is committed to elevating all of our state’s entrepreneurs, including women, socially and economically disadvantaged individuals and those residing in rural communities, making this partnership in clear alignment with our mission and goals,” said Cynthia Crutchfield, the CEO of Innovate Alabama. “We hope that this investment will strengthen and inspire economic development across the state, regardless of a founder’s background.”
The SBIR/STTR Proposal Lab will serve Alabama’s 67 counties, with a focus on the 14 HBCUs. This extensive training program is focused on proposal development, team creation and commercialization strategies to remove barriers to application for underserved entrepreneurs. In our outreach efforts, we will specifically target HBCU faculty, researchers and entrepreneurs, including Small Disadvantaged Businesses and Women Owned Small Businesses. The Lab design combines a series of eight full-day training workshops with four proposal reviews for companies applying to NSF and DOD Phase I solicitations. Additionally, The Lab will provide individualized mentoring and access to a network of industry experts. Our technical assistance will provide detailed guidance on developing high-quality SBIR/STTR proposals, leveraging artificial intelligence and agile principles.
“We are honored to receive this award and excited about the impact it will have on our efforts to create lasting opportunities for HBCU students and alumni. This funding allows us to deepen our commitment to fostering innovation and entrepreneurship in underrepresented communities. By developing programs that equip HBCU faculty, researchers and entrepreneurs with the tools they need to succeed, we’re not only driving economic growth but also helping to ensure that Alabama remains a leader in tech innovation for years to come.” Said Charisse Stokes, Executive Director, The Alabama Collective.
The Catalyst and The Alabama Collective have a proven track record of supporting underserved and underrepresented communities. Through federal program funding, they will continue to offer expert training and resources to innovators across the state, empowering them to champion their research and expand innovative ideas that drive economic growth in Alabama.
