MONTGOMERY, AL — Governor Kay Ivey is encouraging eligible Alabama small businesses and entrepreneurs to participate in the U.S. Small Business Administration’s (SBA) national Freedom 250 Patriot Pitch Competition, a nationwide contest that will award up to $1 million in prize money to innovative small businesses as part of the nation’s upcoming 250th anniversary celebration.
The competition, held in partnership with Clover, is designed to recognize and support entrepreneurs whose businesses demonstrate innovation and growth. Five businesses from across the country will receive cash awards, with the top prize totaling $400,000.
Prize amounts include:
• First Place — $400,000
• Second Place — $250,000
• Third Place — $150,000
• Fourth Place — $125,000
• Fifth Place — $75,000
Governor Ivey said Alabama entrepreneurs embody the same spirit of innovation and determination that helped build the nation.
“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. “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.”
To qualify, businesses must meet the SBA definition of a small business, have operated for at least three years, generate at least $100,000 in annual gross revenue and have benefited from certain SBA capital programs, including 7(a), 504 or microloans. Businesses must also be headquartered and operated in the United States and be fully owned by U.S. citizens or lawful permanent residents.
Applicants are required to submit a pitch deck in PDF format through the SBA’s Freedom 250 competition portal. The SBA encourages participants to review all eligibility requirements, terms and conditions and submission guidelines before applying.
Applications must be submitted by June 10, 2026, at 10:59 p.m. Central Time.
“This competition celebrates the same entrepreneurial spirit that has powered America for nearly 250 years,” Ivey said. “I look forward to seeing Alabama businesses step up and make our state proud.”
Additional information, including eligibility requirements and submission instructions, is available through the SBA’s Freedom 250 competition webpage. Questions regarding the competition may be directed to Megyn Rodriguez at Megyn.Rodriguez@sba.gov.
