Huntsville’s economy – and, therefore, much of North Alabama – has long been tied to federal government institutions, especially major facilities of the US Army, NASA, and most recently the FBI. Those are wonderful assets for the region that should always be highly prized, but North Alabama must also pursue other avenues for job growth, and entrepreneurship creates virtually all net job growth in America. Fortunately, some exciting initiatives in that regard are underway.
Three regional entrepreneurship initiatives are setting an increasingly fast pace, engaging all eight counties of North Alabama, and building on the outdoor economy, which is such a promising regional asset. In doing so, they are aligning with and reinforcing Innovate Alabama, the statewide entity that has a charter to enhance Alabama’s entrepreneurship ecosystem by offering a wealth of resources and a collaborative statewide community.
The first of the three initiatives is Launch, the nonprofit regional partnership that brings together business, community, and elected leaders from all eight counties to rethink and imagine the region’s economic growth in the future. Now in its 10th year, Launch has been a catalyst for much of the energy in the region around entrepreneurship. I co-chair the entrepreneurship pillar at Launch – along with John Joseph IV, CEO of the Decatur/Morgan County e-Center – and I see its impact first-hand.
The second initiative is the Singing River Trail, started by Launch in 2020 – amid the COVID-19 pandemic – as a 200-mile land-use project to lift up the North Alabama economy.
The Trail, which has become a galvanizing backbone of the region, is being built throughout North Alabama. Some of it is paved; some is more rural. Some pieces are now in use; others are still gaps where nothing is yet in place. But the plan and ambition embrace all eight counties. Its pieces and its conceptual whole are newly defining the region and the opportunities that it holds.
The third initiative is the Singing River Trail Launch Tank, a collaboration between Launch and the Singing River Trail. A “Shark Tank”-style competition for new and existing North Alabama entrepreneurs, its final events each year feature live pitches with an audience of hundreds of business leaders, public officials, ecosystem stakeholders, and the public. Finalists receive funding plus direct introductions to programs and tailored resources.
The Launch Tank, which moves each year from one county to another, recently completed its third year of competition. I’ve been involved in organizing it throughout that time.
This year’s competition generated 50 entrepreneurial applicants. It attracted an audience of 350. Each of the 12 finalists is sharing a winning purse of $25,000. Each also gets free office space, memberships in relevant business organizations, and tailored mentorship opportunities.
Finalists over the three years range from tech to lifestyle to nonprofit entities. All have entrepreneurial concepts for enhancing the Singing River Trail. All have potential for enhancing the Trail’s placemaking promise.
One of the winners from the first year, is a glamping company, which now offers upscale accommodations on the Trail; another is a candle company that is working on bringing candle- making experiences to trailside patrons. One of the second-year winners is an e-bike company that rents bikes on the Trail.
North Alabama’s entrepreneurial initiatives are setting an example for the nation and providing lessons for other states. Those lessons include the following:
- Innovation happens within defined parameters – even if they are loose ones. Both the Singing River Trail and the Launch Tank provide their own framing in which people can be innovative in their support of a regional priority.
- Providing a vehicle that pulls together every county in a particular region can create a magnetism that is hard to resist. Inclusiveness has a power that motivates shared interests.
- Offering a wide range of ways for individuals to be involved – whether formally or informally – expands the prospects of any regional initiative and engages potential customers of emerging entrepreneurs.
Sharing those lessons is especially important to me. That’s why I have become an Ambassador for the national nonprofit organization Right to Start, which is championing entrepreneurship as a civic priority for every community in the United States. Through Right to Start, models like the one that we have created in North Alabama can be shared with other parts of the nation, and we can all learn from each other to create a more vibrant entrepreneurial environment for everyone.
You don’t have to be an entrepreneur to benefit from expanding entrepreneurial opportunity. Research in the United States shows that for every 1% increase in the entrepreneurship rate, the poverty rate decreases by 2%.
In North Alabama, the model we are building combines innovation, entrepreneurship, and outdoor recreation, and everyone in North Alabama can be part of the growing success. You can hike on the Trail. You can help support the Trail. You can attend next year’s Launch Tank. You can try out any new business on the Trail or in your neighborhood. If you like its product, tell your friends.
Entrepreneurs cannot succeed without customers, so we are all crucial to the region’s entrepreneurial success. It can be as simple as buying a cup of coffee at a new coffee shop. Whatever you do, become a part – however you want – of supporting entrepreneurs in North Alabama. You will benefit, too, from the regional growth of entrepreneurship.
Toni Eberhart is an entrepreneur and strategic management consultant in Huntsville.
