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A N N U A L
R E P O R T
2019 RESULTS
130 Member Companies
1,552 Awesome Jobs
$189M Gross Sales
$3.06 BILLION E C O N O M I C I M P A C T 5 Y E A R T O TA L *Impact based on gross sales and funding data for all 2019 member companies and graduates from previous five years.
WHO WE ARE Innovation Depot is the epicenter for technology, startups, & entrepreneurs in the Birmingham region.
WHAT WE DO Through our programs, Innovation Depot gives entrepreneurs a competitive advantage in attracting customers, talent, mentors, press, and funding to grow their business.
In partnership with:
Friends and Family 4.7% Grants 5.9% Angel Investors 11.6% Venture Capital 38.6% Loans 39.2%
TOTAL FUNDING
$69.6 MILLION
2019 MEMBER COMPANIES
41
30
New Members
11
Top 40 Under 40 of the Decade
44
Graduates
4
Birmingham Bound Companies
Raised Capital
3
Alabama Launchpad Winners
2
BBJ Women to Watch
17
Filed Patents
1
Member Acquisition
NEW PARTNERSHIPS – HEALTH INSURANCE Innovation Depot has partnered with Viva Health and Kennion, local Birmingham companies, to offer an all-inclusive and customized Employee Benefits Platform to Innovation Depot member companies.
NEW MURAL – DEPOT ATRIUM Concept: If merely having a novel idea can be represented by an illuminated bulb, then what better way to represent the culmination of that idea’s implementation than that same bulb exploding from its own brightness. This mural is about the process of pushing past the idea, because experimentation, innovation, and implementation is where the real payoff lies. Only the most determined among us can bring a new concept to fruition, and Innovation Depot provides the perfect stage for that process to play out. Sponsor: This mural, and several others around town, is sponsored by The Eason Family, who do so out of a deep appreciation for the unique human gift of artistry and the entrepreneurial spirit. Each a rare ability in those they inhabit, but both capable of providing meaningful fulfillment to countless others. Artist: Marcus Fetch, through his company Redpath Creative, has become one of the most prolific muralists in Birmingham. His work can be seen in nearly all corners of the city and his style is as varied as his color palette. From fun to insightful, his pieces always evoke a response from those who cross their path.
VELOCITY ACCELERATOR PROGRAM 2019 Cohort
114
7
Applicants
Startups 2 Out of State
2017 – 2019 Results
3
Cohorts
23
Startups
101 Jobs
Fund Supporters
$14.6M Total Funding
2019 TEAM MEMBERS Molly LaBorde
DesireĂŠ Page
Sarah McFarland
Kevin Herren
Blake Cooley
Randy Toole
Shaun Pollard
Tayun Harrison
COO & Interim CEO
Controller
IT Director
Facility Director
Office Manager
Program Director
Facility Assistant
Receptionist
2019 BOARD OF DIRECTORS Ray Watts Chairman UAB
John McDonald Vice Chairman Integra Water
Scott McGlaun Immediate Past Chair BCBS of Alabama
Scott Adams Protective Life Corporation
Adam Cranford New Capital Partners
Kathy Nugent UAB
Iwan Alexander UAB School of Engineering
Bob Crutchfield ACS Bright Edge Ventures
Shegun Otulana Theranest
Keith Barfield Barfield, Murphy, Shank and Smith
Alan Dean Targeted Technology Fund
John Owen Regions Bank
Greg Barker Alabama Power
Jonathan Geisen Baker Donelson
Liz Pharo Momentum Telecom
Cecil Bostany Warren Averett
Miller Girvin AL Capital Network
Gene Price Burr & Forman
Chris Brown UAB
Bebe Goodrich Royal Cup
Lee Smith BBVA Compass
Greg Canfield AL Department of Commerce
Deon Gordon TechBirmingham
Nick Willis PNC
Josh Carpenter City of Birmingham
Eric Jack UAB Collat School of Business
James Childs Maynard Cooper
Martha Miller Balch & Bingham
Design by Ryan Boswell rboswelldesign@gmail.com
Innovation Depot is a 501c3 not-for-profit organization
1500 First Avenue N. Birmingham, AL 35203 www.innovationdepot.org • 205.250.8000