The Legislature finds and declares all of the following:

(1) On July 16, 2020, the Governor issued Executive Order No. 720, establishing the Alabama Innovation Commission to “identify policies that will promote entrepreneurship, innovation, and related opportunities in the State of Alabama.”
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Terms Used In Alabama Code 41-10-800

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: means next after. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
(2) The commission has issued an interim report outlining initial policy recommendations, including all of the following:

a. To develop a statewide innovation coordination and incentive structure to generate additional, successful business growth.
b. To develop an Alabama branding campaign to evolve the state into an emerging destination place.
c. To develop a program offering matching funds to recipients of federal Small Business Innovation Research and Small Business Technology Transfer Research grants.
(3) This article creates the structure recommended in paragraph (2)a., to implement the recommendations listed in paragraphs (2)b. and (2)c.
(4) Recognizing that this state’s economy is rapidly changing, this article should be interpreted and applied to allow the corporation to respond rapidly, as its board deems appropriate, to challenges and opportunities in the fields of technology, research and development, innovation, and entrepreneurship.
(5) The corporation is charged with preparing this state for the economy of the future. The corporation shall make this state a hub for technology, research and development, innovation, and entrepreneurship by partnering with the private sector, state agencies, and state policy makers to develop and implement programs and policies to lead to a more robust, diverse, and resilient economy for this state.
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