Innovate Alabama sets focus on 2021 legislative session
The Alabama Innovation Commission, or Innovate Alabama, meets in October at Mercedes-Benz U.S. International in Vance. The commission has released a report and four policy recommendations in advance of the 2021 legislative session beginning next week. (Dennis Washington / Alabama NewsCenter)
The Alabama Innovation Commission, or Innovate Alabama, has turned its attention to the 2021 legislative session, which starts Feb. 2, by issuing an interim report that updates its progress and unveils its initial policy recommendations.
The commission, created by Gov. Kay Ivey in June 2020, is Alabama’s first statewide commission focused on enhancing Alabama’s status as a hub for technology, innovation and entrepreneurship. Its goal is to bring together private sector experts and state policymakers to develop policies that will lead to a more robust and inclusive economy for Alabama.
To that end, the commission’s interim report outlines four initial policy recommendations:
- Development of a statewide innovation coordination and incentive structure to generate additional, successful business growth.
- Provide for a private fund adviser exemption to encourage early stage formation of private venture capital funds.
- Fund and launch an Alabama branding campaign to develop the state as a destination place to grow.
- SBIR/STTR matching funds through a state program that would potentially match existing funding.
State Rep. Bill Poole (R-Tuscaloosa) is chair of the 15-member commission, and state Sen. Greg Reed (R-Jasper) is vice chair. Alabama Power Executive Vice President Zeke Smith is president of the Advisory Council, a group of innovation experts from within the state and across the country who have ties to Alabama.
“I am pleased with the progress of the Alabama Innovation Commission and look forward to continuing to work together to create smart solutions that expand the state’s economic growth and create opportunities for those wanting to start and grow a business in Alabama,” Poole said.
“While there is still much work to be done, the interim ideas and recommendations already set forth show how the work of this commission will have a positive impact on the state,” Poole said.
“Alabama has always had a strong foundation of innovation, and the work of the commission is highlighting the potential our state has for growth in becoming a leader in technology and entrepreneurship,” Reed said. “As our state continues to adapt and recover from the COVID-19 pandemic, the commission’s ideas and recommendations will play a role in ensuring that our state has a competitive economic edge moving forward.”
The Hoover Institution at Stanford University is partnering with the commission to develop data-supported, well-researched and innovative policy solutions to support the growth of Alabama’s innovation and entrepreneurial ecosystem.
“The collaboration and meaningful discussions of the commission and the Advisory Council have been inspiring,” Smith said. “Through partnerships with the Hoover Institution and momentum already created with the commission’s interim report, I look forward to continuing these efforts in 2021 as we work toward developing solutions that will create success and opportunity across the state.”
For more information on the commission, visit www.innovatealabama.org and follow Innovate Alabama on Twitter at @InnovateAlabama and LinkedIn at Innovate Alabama.
