Mobile Area Chamber of Commerce Foundation, Inc.

Innovation PortAL (IP) will create, launch and administer a seed fund supporting entrepreneurs in the Gulf Coast region. While IP and supporting community programs have been successful in preparing entrepreneurial businesses for funding, a very significant gap of seed funding resources exists. There are currently very limited seed funding offerings targeted to entrepreneurs in the Gulf Coast region, which results in the region’s high-potential entrepreneurs either moving to markets outside of our region in search of capital or they are putting their entrepreneurial efforts on hold. IP expects to raise $3.5m in capital and to support 15 new business and the creation of 46 jobs.