Governor Kay Ivey is encouraging eligible Alabama small businesses and entrepreneurs to submit a pitch for the U.S. Small Business Administration's (SBA) national "Freedom 250" Patriot Pitch Competition, a nationwide contest celebrating America's 250th anniversary by awarding up to $1 million in total prize money.
Governor Ivey highlighted the state's entrepreneurial spirit, saying, "America was built by hardworking men and women willing to take a chance on an idea, and Alabama entrepreneurs are carrying that same spirit forward today." She urged businesses to showcase "Made in Alabama" innovation.
The competition, held in partnership with Clover, will distribute cash prizes to five winning businesses. The first-place winner will receive $400,000, second place $250,000, third place $150,000, fourth place $125,000, and fifth place $75,000.
To qualify, businesses must meet the SBA's small business definition, have operated for at least three years, and generate a minimum of $100,000 in annual gross revenue. Additionally, they must have benefited from certain SBA capital programs, be headquartered and operated in the United States, and be 100% owned by U.S. citizens or lawful permanent residents.
Eligible entrepreneurs can submit their pitch deck in PDF format through the SBA's Freedom 250 competition portal. Applications must be submitted by June 10, 2026, at 10:59 p.m. Central. Governor Ivey added, "I look forward to seeing Alabama businesses step up and make our state proud."