Bronze Valley Corporation
The Empower Alabama Fund
Birmingham, AL
Seed Fund Support
Federal Share: $284,500.00
Local Match: $570,000.00
Bronze Valley Corporation will deploy the Empower Alabama Fund to recruit and deploy seed stage capital and to ensure that innovative technology startups, located in Opportunity Zones and having high potential for growth and job creation, can connect to a vibrant startup ecosystem and find readily available funding opportunities. The Empower Alabama Fund is designed to scale Greater Birmingham’s diverse innovation ecosystem and to maximize the Opportunity Zone program’s impact on regional economic growth. The Fund will pay deliberate attention to ensuring that its programming and funding are readily accessible to entrepreneurs from underrepresented groups who have been historically under-funded and often under-estimated, including ethnic minorities, low-income persons, and female founders. In the first three years, the project anticipates investments in 20 startups averaging $50,000/investment and education of 150 startups and 300 private investors through the Startup & Investor Education Program. The long-term goal is to expand the Empower Alabama Fund beyond the Birmingham region.