Montgomery, Ala. (WDNews) — Governor Ivey is encouraging Alabama small businesses and entrepreneurs to take part in a new national competition aimed at celebrating America’s upcoming 250th anniversary while supporting innovation and economic growth.
According to the governor’s office, the U.S. Small Business Administration’s “Freedom 250” Patriot Pitch Competition will award up to $1 million in total prize money to small businesses across the country with standout ideas and successful business models.
“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,” Ivey said in a statement. “As our nation prepares to celebrate 250 years of freedom, I encourage our state’s small business owners to show the rest of the country what innovation looks like when it’s ‘Made in Alabama.’ I have no doubt our talent here at home can compete with – and beat – the very best in America.”
The nationwide competition is being held in partnership with and will reward five winning businesses with cash prizes ranging from $75,000 to $400,000.
According to officials, the first-place winner will receive $400,000, while second place will earn $250,000. Third place will receive $150,000, fourth place will earn $125,000 and fifth place will receive $75,000.
To qualify for the competition, businesses must meet the SBA definition of a small business and must have been operating for at least three years. Eligible businesses must also generate at least $100,000 in annual gross revenue and have previously benefited from certain SBA capital programs, including 7(a), 504 or microloan programs.
Additional requirements include being headquartered and operated within the United States and being fully owned by U.S. citizens or lawful permanent residents.
Officials said Alabama entrepreneurs interested in applying must submit a pitch deck in PDF format through the SBA Freedom 250 competition portal. Applicants are encouraged to carefully review all eligibility rules, submission instructions and competition terms before applying.
Applications for the national contest must be submitted by June 10, 2026, at 10:59 p.m. Central Time.
