Funding to Support New Venture Hub for STEM Entrepreneurship

Alabama A&M University has secured a $529,920 grant from Innovate Alabama to establish the Venture Hub, a 5,800-square-foot entrepreneurship center located at 4701 Meridian Plaza in Huntsville, Alabama. This state-of-the-art facility will foster innovation in Science, Technology, Engineering, and Mathematics (STEM), supporting aspiring entrepreneurs in developing groundbreaking solutions.

“Securing this grant is a significant milestone for Alabama A&M University’s Venture Hub and the entrepreneurs we serve,” said Dr. Lyndell J. Parris, the Director of Innovation & Entrepreneurship. “As the grant writer, I am proud that these funds will directly support our mission to buildout and equip students, alumni, and community members with the resources, mentorship, and funding needed to turn their ideas into successful businesses. The Venture Hub is more than just a space – it’s a movement to empower the next generation of bold thinkers and business leaders.”

Alabama A&M is among several organizations awarded a share of $15 million in the latest round of the Innovate Alabama Network, aimed at driving statewide innovation. 

In October 2023, Alabama A&M was recognized as one of the inaugural designees of the Innovate Alabama Network, which aims to catalyze innovation throughout Alabama by fostering three components of a healthy innovation ecosystem: people, places and resources. As part of this effort, University researchers received $125,000 for Highway Signs Technology based on Augmented Reality (Hi-STAR), which aims to replace physical road signs with digital navigation solutions. Researchers said this innovation could greatly benefit both the Department of Transportation and military operations, particularly in navigating undeveloped or unmarked roads. 

The University’s new Venture Hub will provide students, faculty, and entrepreneurs with essential resources to develop, test, and commercialize STEM-based solutions. Designed to support underrepresented innovators, the Venture Hub will offer workshops, hands-on learning opportunities, accelerator programs and mentorship from STEM faculty and industry experts. 

By bridging the gap between technical expertise and business development, the Venture Hub will serve as a launchpad for STEM-based startups. Alabama A&M University hopes to cultivate a sustainable pipeline of innovators who will contribute to Alabama’s economic and technological advancement.

“The Innovate Alabama Network is a catalyst, creating and strengthening our statewide network for innovation programming and bolstering entrepreneurship in all types of communities across the state,” said Cynthia Crutchfield, CEO of Innovate Alabama. “We are encouraged by the continual growth of interest in the program, spurred by momentum built in the first two rounds of awards. Innovate Alabama is eager to harness this excitement to support designees through our most engaging and connective resources yet.”