Deadline: 29-Apr-21
The Department of Commerce is pleased to announce the Build to Scale Program 2021.
EDA is committed to furthering technology-based economic development initiatives that accelerate high quality job growth, create more economic opportunities, and support the future of the next generation of industry leading companies.
To advance these goals, EDA’s Office of Innovation & Entrepreneurship awards grants through the Build to Scale Program for activities designed to develop and support regional innovation initiatives. EDA thereby advances the growth of connected, innovation-centric economies that increase job growth, enable the workforce of tomorrow, enhance global competitiveness, and foster global competitiveness through technology commercialization and entrepreneurship as described in section 27 of the Stevenson-Wydler Technology Innovation Act of 1980.
The Build to Scale Program invites organizations that are aiding companies in developing the next generation of technologies to apply for funding. These organizations may be operating initiatives to unlock investment capital across a region or sector, operating programs to accelerate company growth, empowering the next generation of entrepreneurs, and/or enabling technology commercialization.
Types of Challenges
- Venture Challenge: The Venture Challenge invites organizations to submit competitive proposals that seek to support entrepreneurship and accelerate company growth in their community, region, or combination of regions.
- Capital Challenge: The Capital Challenge provides operational support for the formation, launch, or scale of investment funds that seek to invest their capital in scalable startups (i.e., venture funds, seed funds, angel funds) or to organizations with a goal to expand capital deployment within a community, region, or regional industry (i.e., angel networks or investor training programs). Funding will primarily support operational and programmatic costs and may not be used as investment capital.
Funding Information
- Venture Challenge: EDA plans to award approximately $32,000,000 under the 2021 Venture Challenge. The maximum federal share of each Venture Challenge Build award is $750,000; the maximum federal share of each Venture Challenge Scale award is $1,500,000. EDA plans to award approximately $12,000,000 to Venture Challenge Build applicants and approximately $20,000,000 to Venture Challenge Scale applicant.
- Capital Challenge: EDA plans to award approximately $6,000,000 under the 2021 Capital Challenge. The maximum federal share of each Capital Challenge award is $400,000.
Eligible Applicants
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Public and State controlled institutions of higher education
- Native American tribal governments (Federally recognized)
- City or township governments
- County governments
- Private institutions of higher education
- Others
- State governments
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
Additional Information on Eligibility
Eligible applicants for EDA financial assistance under this NOFO include:
- A State
- An Indian tribe;
- A city or other political subdivision of a State;
- An entity whose application is supported by a State or a political subdivision of a State and that is
- A consortium of any of the immediately aforementioned entities.
For more information, visit Grants.gov.
For more information, visit https://www.grants.gov/web/grants/view-opportunity.html?oppId=331671