MOBILE, Ala. — Coastal Alabama founders have until Monday, Sept. 28, to apply for a shot at $20,000 in startup funding. The Innovation Portal, downtown Mobile’s nonprofit business incubator, is adding a pitch competition to its Fall Programs Showcase as it celebrates its 10th anniversary this fall.
The competition will take place Nov. 19 in Mobile. Thanks to a grant from the Women’s Foundation of Alabama, the top finisher will take home a $10,000 grand prize, and another $10,000 will be divided among the second- and third-place finishers and a People’s Choice Award winner.
The prize money is nondilutive, meaning winners do not have to give up any ownership in their companies to receive it.
Innovation Portal pitch competition at a glance
- What: $20,000 pitch competition at the Innovation Portal’s Fall Programs Showcase
- When: Thursday, Nov. 19
- Where: Mobile
- Grand prize: $10,000
- Additional awards: $10,000 split among second place, third place and a People’s Choice Award
- Funding type: Nondilutive, so founders keep full ownership
- Grant support: Women’s Foundation of Alabama
- Application deadline: Monday, Sept. 28
What ‘nondilutive’ means for a founder
For early-stage entrepreneurs, how a business is funded can matter as much as how much money it raises. Most outside investment in startups is dilutive: an angel investor or venture capital firm provides cash in exchange for a share of the company. Each round of investment shrinks, or dilutes, the founders’ ownership stake.
Nondilutive funding comes without that trade-off. Grants, prize money from competitions, and certain government programs provide capital without taking equity. That makes pitch prizes especially attractive for very young companies that are not ready to raise an investment round, or for founders who want to prove out an idea before giving away part of their business.
Pitch competitions offer more than the check. Preparing a pitch forces founders to sharpen how they explain their product, customer and business model, and presenting in front of judges and an audience can lead to connections with mentors, customers and potential investors.
A 10th anniversary for the Innovation Portal
The Mobile Area Chamber of Commerce founded the Innovation Portal in 2016 to help local entrepreneurs turn ideas into viable companies. It began inside a downtown coworking space before opening its own renovated building at 358 St. Louis St. in early 2020, an expansion supported by a $4.8 million grant from the U.S. Economic Development Administration.
In 2023, the Innovation Portal became an independent 501(c)(3) nonprofit. It continues to partner with the Mobile Chamber, the City of Mobile, Mobile County and private foundations and sponsors, and it is part of the Innovate Alabama Network, the statewide public-private effort focused on innovation and entrepreneurship.
The organization says it has served more than 400 companies since its founding. Its St. Louis Street building offers private offices, coworking memberships and meeting space, but its core work is structured coaching: helping founders identify their customers, test whether their idea solves a real problem and decide whether to keep going or change course. Executive Director Todd Greer has led the organization since 2022.
The Fall Programs Showcase highlights the companies moving through the Portal’s programs. Adding a cash prize to this year’s event gives participating founders a chance at funding in addition to exposure.
About the Women’s Foundation of Alabama
The Women’s Foundation of Alabama, based in Birmingham, is a statewide philanthropic organization focused on gender and economic equity for Alabama women. It funds research, makes grants and advocates on public policy, with priorities that include economic mobility along with maternal health and mental health. The foundation is marking its own 30th anniversary in 2026.
Support for entrepreneurship fits within the foundation’s economic mobility work. Access to startup capital has long been a hurdle for many founders, and research has consistently shown that businesses led by women receive a small share of venture capital nationally, which makes grants and prize funding an important alternative.
A busy season for local startups
The Innovation Portal’s competition adds to a growing calendar of startup events in coastal Alabama. Pitch competitions hosted by universities, economic development groups and entrepreneur organizations have become a regular way for the region’s founders to win seed money and get noticed.
Mobile County has also drawn attention for entrepreneurial activity in recent years. The Innovation Portal has pointed to data showing the county ranked among the top counties in the country for new business formations from 2020 to 2022, a surge that followed the pandemic and a nationwide rise in new business applications.
How to prepare a strong pitch
For founders thinking about applying before Monday’s deadline, a few basics apply to most pitch competitions:
- Lead with the problem. Judges want to know what pain point you solve and for whom before they hear about features.
- Know your customer. Be specific about who buys your product and why, and share any evidence that they want it.
- Explain how you make money. A clear business model and pricing strategy matter as much as a good idea.
- Show traction. Early sales, pilot customers, partnerships or a working prototype all build credibility.
- Say what the money will do. Tell judges exactly how a prize would move your business forward.
- Practice the timing. Most competitions enforce strict time limits, so rehearse until the pitch fits comfortably.
How to apply
Applications are due Monday, Sept. 28. Founders interested in competing should contact the Innovation Portal in downtown Mobile or check the organization’s website and social media channels for the application and eligibility details.
Those who don’t plan to compete can still show up to support local founders. People’s Choice awards at pitch events typically reflect the audience’s favorite, giving the community a role in cheering on local startups as the Innovation Portal marks its first decade.