Deadline: 13-Jun-22
The Department of Commerce invites organizations that are aiding companies in developing the next generation of technologies to apply for 2022 Build to Scale Program 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, or otherwise enabling technology commercialization.
Categories
- Venture Challenge: Under the Venture Challenge, EDA seeks competitive proposals that support technology entrepreneurship and accelerate company growth in their community, region, or combination of regions. Competitive proposals will outline how the project will strengthen economic competitiveness through new product or service innovation or new technology adoption, enhancing research commercialization processes and outcomes, remediating structural barriers that inhibit regional innovation capacity and resilience, or leveraging regional competitive strengths to stimulate innovation and the creation of high-skill and highwage jobs.
- Capital Challenge: The Capital Challenge provides operational support for the formation, launch, or scale of investment funds that seek to raise equity-based capital to deploy in scalable startups (e.g., angel, seed, or venture funds) or of organizations that expand equity-based capital access and deployment within a community, region, or regional industry (e.g., angel networks or investor training programs). The Capital Challenge does not support strictly debt-based capital.
Funding Information
- Funding for the Venture Challenge is available at two levels: Build and Scale. Venture Challenge Build applicants may request up to $750,000, and Venture Challenge Scale applicants must request more than $750,000 and may request up to $2,000,000 over the period of performance, which EDA expects will be approximately three years unless the applicant clearly justifies a shorter or longer period of performance and EDA accepts that justification.
- Funding for the Capital Challenge is available at two levels: Form and Deploy. Capital Challenge Form applicants may request up to $300,000, and Capital Challenge Deploy application must request more than $300,000 and may request up to $750,000 over the period of performance, which EDA expects will be approximately three years unless the applicant clearly justifies a shorter or longer period of performance and EDA accepts that justification.
Eligibility Criteria
Entities that are eligible for funding 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 nonprofit organization;
- an institution of higher education;
- a public-private partnership;
- a science or research park;
- a Federal laboratory;
- a venture development organization; or
- an economic development organization or similar entity that is focused primarily on improving science, technology, innovation, or entrepreneurship; or
- a consortium of any of the aforementioned entities.
For more information, visit https://www.grants.gov/web/grants/view-opportunity.html?oppId=339481