Reviewed by: Emily Phillips
MidCity Accelerator Foundation receives $500K donation
Reading time: 3 minutes
Synovus Bank has made a major contribution to support accelerator programs in Huntsville, enabling the venture capital firm gener8tor to support 15 start-ups in North Alabama.
The bank contributed $500,000 to the MidCity Accelerator Foundation, an initiative of the MidCity District to spur entrepreneurship in North Alabama. Read more for all the details:
The MidCity Foundation
The MidCity Accelerator Foundation is an initiative of MidCity District, Huntsville’s mixed-use district that continues to grow. In fact, investment at MidCity District is estimated to exceed $850 Million over the next five years.
Once complete, the development will include 350,000 square feet of retail, dining and entertainment space; approximately 400,000 square feet of high-tech office space; 1,400 residential units; and approximately 650 hotel rooms.
The MidCity Accelerator Foundation has partnered with gener8tor, RCP Companies and Made in Alabama to deliver the “gener8tor Huntsville Accelerator.” This premier collaborative community-driven program provides startups the opportunity to gain traction for rapid growth.
“RCP Companies and MidCity Accelerator Foundation continue to be impressed with the great work gener8tor and our sponsors are doing in our community. Fostering the start-up culture in North Alabama adds more layers to the immense desirability of Huntsville and the Tennessee Valley.”
Lindsey Pattillo Keane, RCP Companies and MidCity District
The gener8tor Huntsville Accelerator hosts three levels of programming for entrepreneurs at various stages of their company growth:
- The gALPHA Alabama Accelerator, which is open to entrepreneurs and aspiring entrepreneurs from across Alabama at the earliest stages of ideation and product validation.
- Two gBETA North Alabama Accelerator programs are offered in Huntsville and Muscle Shoals. gBETA is a free, seven-week accelerator for early-stage companies with local roots. Each program is capped at five teams and requires no fees and no equity.
- The gener8tor industry-agnostic program, Huntsville Investment Accelerator, invests $100k in six companies annually. The investment accelerator recruits globally for in-person participation in Huntsville.
Hville Blast listed some of the startup incubators in the Huntsville area making a difference in the local business community.
gener8tor Huntsville programs
In September, gener8tor Huntsville kicks off two fall programs. The Huntsville Investment Accelerator will welcome five companies from across the country on September 15. Launching on September 30, gBETA Huntsville will host five to six companies from across Alabama for the pre-accelerator program.
Both fall programs will conclude with a premiere night in December.
“The engineering talent and entrepreneurial spirit in Huntsville allow for the perfect opportunity to engage with the early growth of a startup ecosystem. gener8tor is proud to partner with Synovus Bank and the greater Huntsville community, propelling the best and brightest and aligning with the city’s mission to accelerate innovation and provide the resources for startup companies to grow. The sky is not the limit, and that’s especially true in Huntsville.”
Haley Medved Kendrick, gener8tor senior managing director of investment accelerators
In addition to Synovus, the gener8tor Huntsville Accelerator is also supported through sponsorship by First Metro Bank, Robins & Morton, Iron Mountain Solutions and Renasant Bank.
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