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Mobile Area Chamber of Commerce Foundation, Inc.

Location

Mobile, AL

Project Name

Seed fund to support entrepreneurs in the Gulf Coast region

Program

Seed Fund Support

Award Amount

Federal Share

Non-Federal Share

$299,995.00

$347,970.00

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.

Office of Innovation and Entrepreneurship (OIE)

Build To Scale (B2S)
formerly Regional Innovation Strategies Program (RIS)

SPRINT Challenge

STEM Talent Challenge

Accelerate R2 Network Challenge

National Advisory Council on Innovation & Entrepreneurship (NACIE)

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