Written by Emma Planson and Katherine Zobre
To all the current, past and future founders, Happy 4th of July! We celebrate you and thank you for your courage and dedication to change the country (and the world) with your startup. We know that it takes a lot of time, energy, and funding to get your startup going.
Startups and small businesses make up 44% of the economy in the United States. In Alabama’s economy, small businesses play an even more prominent role. In Alabama, 99.4% of businesses are small businesses. While most of Alabama’s businesses and startups are small, they are mighty.
Alabama Finance Director Bill Poole says that in the future, the state’s economy will be even more supported by technology and research, making tech startups and small businesses essential to the state’s future economic growth. In fact, The Alabama Innovation Corporation opened their grant portal on July 1 to support startups doing scientific research and development. Learn more about the Alabama Innovation Corporation’s grant program here.
In Birmingham there are an estimated 374 businesses that generate between $1 and $10 million in estimated annual revenue. Below is a graph showing Birmingham based startups and small businesses and estimated annual revenue.
Source: Crunchbase
At Innovation Depot, we are here to help you launch and scale your startup. Check out our upcoming events here and our signature programs here. Schedule a tour to check out our space and see how we can help you start, grow, and scale your startup.
Happy 4th of July!