Synovus Makes Major Contribution to Support Entrepreneurship in North Alabama
HUNTSVILLE, Ala. – Today, gener8tor announced a major gift from Synovus Bank to the MidCity Accelerator Foundation, an initiative of the MidCity District to spur entrepreneurship in North Alabama. Synovus contributed $500,000 to the foundation through the Growing Alabama Credit program to enable the recruitment, acceleration and growth of more than 15 startups in North Alabama. 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.
“At Synovus, we’re committed to enabling people to reach their full potential, and we understand the transformational impacts that innovative technologies can have on communities,” said Synovus Huntsville Market President Beth Sippel. “Synovus is proud to have served the Huntsville community for nearly 40 years, and through our investment in the MidCity Accelerator Foundation, we’re honored to further equitable access and opportunities in North Alabama.”
The gener8tor Huntsville Accelerator hosts three levels of programming for entrepreneurs at various stages of their company growth. The gALPHA Alabama Accelerator is open to entrepreneurs and aspiring entrepreneurs from across Alabama at the earliest stages of ideation and product validation. For entrepreneurs with an early-stage product, 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. Finally, 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.
This month, 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.
“RCP Companies and MidCity Accelerator Foundation continue to be impressed with the great work gener8tor and our sponsors are doing in our community,” said Lindsey Pattillo Keane, RCP Companies and MidCity District. “Fostering the start-up culture in North Alabama adds more layers to the immense desirability of Huntsville and the Tennessee Valley.”
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. The program offers a cutting-edge accelerator program in Huntsville, one of the fastest-growing tech cities in the U.S. The accelerator program provides a unique blend of concierge services to a small group of select candidates, giving startups the opportunity to gain traction for rapid growth in the dynamic ecosystem of the Rocket City.
“The engineering talent and entrepreneurial spirit in Huntsville allow for the perfect opportunity to engage with the early growth of a startup ecosystem,” said Haley Medved Kendrick, gener8tor senior managing director of investment accelerators. “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.”
Mentors and investors interested in connecting with the startup companies and programs are encouraged to contact Donna Ehart, Huntsville Investment Accelerator managing director, or Hua Wang, gBETA Huntsville director.
gener8tor is a venture firm and national accelerator network that supports startups, founders, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate programs in more than 41 communities across 22 states and two countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022.
Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking, and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, and international banking through branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram.
About MidCity Accelerator Foundation
The MidCity Accelerator Foundation is an initiative of MidCity District. MidCity District is a nationally-acclaimed, mixed-use district located in the heart of the Tennessee Valley’s high-tech employment center and at the epicenter of the 13-county regional trade area with more than a 1.1 million population. Private 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. Building on the city's reputation, it will create a new destination designed to be a social and economic focal point for the diverse and dynamic community as well as a tool for recruitment and retainment of the younger workforce. More information is available at www.midcitydistrict.com.