November 13, 2024 —The SBA has awarded a $1M, 5-year contract under the Federal and State Technology (FAST) Partnership Program to Team Catalyst, consisting of The Catalyst Center for Business & Entrepreneurship, The Alabama Collective, and the GovCon Incubator by OST Global Solutions. Alabama Governor Kay Ivey endorsed this team. Gov. Ivey emphasized the importance of technology and innovation for the state’s future, stating, “Alabama has always had a rich tradition of developing technologies to move our state forward. Now more than ever, we must capitalize on future opportunities by engaging our state’s trailblazers to discuss new ideas and policies that support entrepreneurship, economic development and jobs.”
FAST Grant’s objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based and socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America’s Seed Fund. This program invests over $4B into 4,000 small businesses annually, without equity or IP ownership taken by the government. “FAST funding, which fuels innovation to keep America competitive globally, has doubled under the Biden-Harris Administration. At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America’s innovative startups is a top priority. America’s Seed Fund, powered by the SBA and fueled by 11 federal agencies’ SBIR and STTR programs, is the largest source of early-stage funding in the world. With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it and build it with America’s Seed Fund in every corner of America,” said Administrator Guzman.
The Catalyst and Alabama Collective have a history of providing resources to rural, underserved and underrepresented communities through their existing programming and the HBCU Innovation Experience in the State of Alabama. The Catalyst bridges the gap and helps technology startups access resources and specialized training. To support the SBIR/STTR program, The Alabama Collective brings robust infrastructure, experienced leadership and extensive partnerships with Alabama’s 14 HBCUs. The GovCon Incubator brings six years of experience running an SBIR/STTR Proposal Lab for Maryland TEDCO, leveraging an innovative proposal development process used to help win over $26 billion in funded grants and contracts for small and large business clients.
Innovate Alabama, the state’s first statewide public-private partnership focused on entrepreneurship, technology and innovation, has committed $500,000 to fund this program. In addition, the Innovate Alabama SBIR/STTR Supplemental Grant Program has deployed more than $14 million in grant funding to 68 Alabama small businesses to support small businesses and university inventors whose proven business models and technologies will help advance Alabama’s regional and national economic footprint.
“Innovate Alabama is committed to elevating all of our state’s entrepreneurs, including women, socially and economically disadvantaged individuals and those residing in rural communities, making this partnership in clear alignment with our mission and goals,” said Cynthia Crutchfield, the CEO of Innovate Alabama. “We hope that this investment will strengthen and inspire economic development across the state, regardless of a founder’s background.”
The SBIR/STTR Proposal Lab will serve Alabama’s 67 counties, with a focus on the 14 HBCUs. This extensive training program is focused on proposal development, team creation and commercialization strategies to remove barriers to application for underserved entrepreneurs. In our outreach efforts, we will specifically target HBCU faculty, researchers and entrepreneurs, including Small Disadvantaged Businesses and Women Owned Small Businesses. The Lab design combines a series of eight full-day training workshops with four proposal reviews for companies applying to NSF and DOD Phase I solicitations. Additionally, The Lab will provide individualized mentoring and access to a network of industry experts. Our technical assistance will provide detailed guidance on developing high-quality SBIR/STTR proposals, leveraging artificial intelligence and agile principles.
“Over the past six years, our Labs resulted in 59 awards and helped participants leverage Phase 1 funding into additional wins with NIH, other participants growing as much as 17 times larger, and others getting venture capital investments. I am excited to apply this proven success formula to this new lab in Alabama,” said Olessia Smotrova, Chief Strategy Officer at the GovCon Incubator.
The Catalyst, The Alabama Collective, and the GovCon Incubator have a proven track record of supporting underserved and underrepresented communities. Through federal program funding, they will continue to offer expert training and resources to innovators across the state, empowering them to champion their research and expand innovative ideas that drive economic growth in Alabama.
The GovCon Incubator is dedicated to empowering small businesses, particularly those owned by socioeconomically disadvantaged entrepreneurs, veterans, women, and HUBZone-designated enterprises. We also focus on supporting small technology-driven businesses involved in Research and Development (R&D) as they navigate the complexities of government grants and contracting. Our mission is to create a thriving community where these businesses can grow, collaborate, and succeed in securing government funding, including contracts, grants, and seed capital. The GovCon Incubator is part of OST Global Solutions, a training and consulting company helping businesses and organizations grow by winning grants and contracts. OST Global Solutions helped clients win more than $26 billion in funded contracts through 2024. To learn more, visit www.ostglobalsolutions.com.
Innovate Alabama is Alabama’s first statewide public-private partnership focused on entrepreneurship, technology, and innovation. Its mission is to help innovators grow roots in Alabama. Established to implement initiatives from the Alabama Innovation Commission’s report, Innovate Alabama aims to create a resilient, inclusive, and robust economy. With founding CEO Cynthia Crutchfield at the helm and a board of 11 innovation leaders appointed by Gov. Ivey, Innovate Alabama collaborates across sectors to advance industries, drive technology, and facilitate an environment where innovation and entrepreneurship thrive. Learn more at www.innovatealabama.org.
The Alabama Collective is dedicated to expanding and enhancing emerging tech, innovation, and entrepreneurial programs in Alabama. By nurturing growth and diversity within the state’s tech and entrepreneurial ecosystem, The Alabama Collective aims to create a hub for minority tech talent and entrepreneurs while preserving the essential infrastructure vital to economic prosperity. To learn more, visit www.thealabamacollective.com.
The Catalyst Center for Business and Entrepreneurship serves entrepreneurs and small business owners in every stage of business through providing best-in-class coaching, in-demand services, and relevant programs to foster the success of small businesses. For more information visit www.catalystcenter.org.
MEDIA CONTACT: Olessia Smotrova
PHONE NUMBER: (240) 246-5305
EMAIL: [email protected]
