Innovate Alabama Grants BCEDF’s Hatch $250,000

Innovate Alabama has admitted the Baldwin Community + Economic Development Foundation (BCEDF), a nonprofit under the Baldwin County Economic Development Alliance, into the Innovate Alabama Network and granted it $250,000 in support of Hatch. Hatch is Baldwin County’s Fairhope-based technology village and entrepreneurial support hub, with a goal to support and grow the technology-based entrepreneurial ecosystem in the region. It was created by BCEDF, the City of Fairhope, Coastal Alabama Community College and other entities. Currently located in the PNC Bank building, it plans to relocate to the K-1 Center building, also in Fairhope, after renovations to it are completed (expected in 2025). Hatch provides office space, coworking space, access to funding, programming, consulting, networking and other resources for technology-based entrepreneurs to start and scale their businesses. The money awarded for Hatch will help fund two 8- to 10-week biotechnology programs to bolster biotechnology growth in Alabama and pave the way for innovation internships. Participating firms will receive $20,000 in funding (half upfront and half upon program completion) for a 5% equity stake, culminating in a “demo day,” when they will pitch to investors. The Innovate Alabama Network selected BCEDF from among 51 applicants pursuing technology-related projects in Alabama.