Alabama-Based Small Tech Businesses can Apply for $250K in Grant Money
Governor Kay Ivey has announced the opening for applications for the Innovate Alabama Supplemental Grant program. This initiative will provide up to $250,000 in grant money for Alabama’s small tech businesses.
Alabama-based recipients of Phase I an dPhase II Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are eligible to apply. Those Phase 1 recipients can apply for 50% of their award, up to $100,000. Phase II can apply for 50% up to $250,000.
Alabama startups have been historically limited by a lack of access to capital. The Alabama Innovation Corp. was created to promote innovation and entrepreneurship in the area, especially in the technology fields.
Ivey called the program “the latest way our state is creating an attractive business environment for pioneering ideas that will change our world.”
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.