Since 1871, Birmingham has been home to the world’s richest deposits of minerals—especially iron. Named after Birmingham, England—in honor of it being the center of the UK’s iron industry—Birmingham, Alabama is the youngest of the state’s major cities. But that hasn’t held it back. Some would even argue that Birmingham is in the best position to grow in comparison to its in-state sister cities!
In fact, plenty of startups have chosen the Iron City to be their home. One of the most successful companies to claim Birmingham as its hometown is Shipt, the revolutionary grocery delivery service. Shipt sold to Target for $550 million back in 2017.
Harvesting an Ecosystem
Beyond Shipt, Birmingham has seen its share of booming entrepreneurial enterprises. In 2007, the Innovation Depot saw an opportunity to raise money to buy and rebuild an abandoned Sears building.
After raising more than $15 million from places like UAB, state and local governments, and public companies, the Innovation Depot completely transformed that building—and turned it into one of the most successful entrepreneurial centers in the United States. It has now become a model for other centers around the world, as it’s a centralized place for startups to have an entrepreneurial community.
Not long after the Innovation Depot purchased the space, an intense economic downturn hit the United States economy: the 2008 financial crisis. But, because Birmingham had diversified its assets, this investment helped the city come out of the recession better than when it entered. Since then, the Innovation Depot has created more than a thousand jobs—delivering over $1.6 billion dollars in total revenue.
What this ultimately means is that the right investments and partnerships can build a thriving ecosystem for any city. With the power of patience, the will and desire to perform well, and some ambition, any entrepreneur and business can thrive.
A Startup Destination Hot Spot
With the huge amounts of energy that Birmingham has to offer, it’s no shock that startups have chosen to relocate to this great place. With many different networking opportunities and events, local businesses, like Mixtroz, have succeeded. With thick resources and great support systems, local businesses to Birmingham, AL have boasted impressive feats.
Community Is Important! Join Ours Today!
If you’re a local entrepreneurial business in Birmingham, AL, head over to our website to get connected with other like-minded business people in your community.