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A bureau within the U.S. Department of Commerce
OIE Background

Office of Innovation and
Entrepreneurship (OIE)

Mobile Area Chamber of Commerce Foundation, Inc.


Mobile, AL

Project Name

Seed fund to support entrepreneurs in the Gulf Coast region


Seed Fund Support

Award Amount

Federal Share

Non-Federal Share



Innovation PortAL (IP) will create, launch and administer a seed fund supporting entrepreneurs in the Gulf Coast region. While IP and supporting community programs have been successful in preparing entrepreneurial businesses for funding, a very significant gap of seed funding resources exists. There are currently very limited seed funding offerings targeted to entrepreneurs in the Gulf Coast region, which results in the region’s high-potential entrepreneurs either moving to markets outside of our region in search of capital or they are putting their entrepreneurial efforts on hold. IP expects to raise $3.5m in capital and to support 15 new business and the creation of 46 jobs.