US Economic Development Administration (EDA) - Office of Innovation and Entrepreneurship (OIE)
08/29/18 11:59 PM EST
Grants to USA nonprofit organizations, local, special district, and state municipalities, public and private IHEs, and tribes for collaborative entrepreneurship projects. Funding is intended for initiatives that aim to convert research into marketable products and services, businesses, and ultimately, jobs.
Specifically, funding is intended for capacity-building programs that provide proof-of-concept and commercialization assistance to innovators and entrepreneurs and for operational support for organizations that provide essential early-stage funding to startups.
Under the RIS Program, EDA is soliciting applications for two separate competitions:
1. i6 Challenge: Funding to help turn ideas and inventions into products and companies
2018 i6 Challenge
The i6 Challenge is designed to increase entrepreneurship that is driven by innovations, ideas, intellectual property (IP), and applied research through the process of technology commercialization and that results in new businesses, accelerated paths to export, increased FDI, and new jobs. Proof-of-concept and commercialization programs can be physical or virtual, existing or new. Existing programs need not have previously received EDA funds to be considered for an i6 Challenge award. Pursuant to Section 27, i6 Challenge funding may be used for a variety of purposes, including but not limited to personnel, program development, and equipment; however, construction costs are not eligible.
2. Seed Fund Support (SFS) Program: Fills gaps in early stage capital for startups
2018 SFS Grant Competition
Access to capital for early-stage companies is an essential element of a healthy regional innovation cluster. Taking an idea or innovation from conception to market often requires capital, but, in many regions across the country, innovators and entrepreneurs struggle to find it.
Through the SFS Grant Competition, EDA provides funding for technical assistance and operational costs, such as conducting feasibility studies, engaging in planning activities, etc., that support the formation, launch, or scale of cluster-focused seed funds that invest their capital in innovation-based startups with a potential for high growth and job creation. For the purposes of this NOFO, a seed fund is an investment fund that, through equity-based instruments, generally invests in new and young companies with high growth potential and that is operated by one or more professional fund managers. These managers develop an investment strategy, capitalize the fund with investment capital from one or more institutions or individuals, and deploy the investment capital by funding early-stage companies in exchange for equity stakes or similar financial interests in those portfolio companies. Seed funds typically sustain their operations through those interests as they raise and deploy capital (e.g., through management fees) and as their portfolio companies increase in value and reach exit events (e.g., through carried interest at acquisition, initial public offering (IPO), another realization of a return on equity).
GrantWatch ID#: 173166
2018 i6 Challenge Grants EDA plans to award approximately $16,000,000 under the 2018 i6 Challenge. The maximum Federal share of each i6 Challenge grant is $750,000.
EDA plans to award approximately $5,000,000 under the 2018 SFS Grant Competition. The maximum Federal share of each SFS Grant is $300,000.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
Apply here: https://www.grants.gov/web/grants/view-opportunity.html?oppId=305799
EDA Office of Innovation and Entrepreneurship
U.S. Department of Commerce
1401 Constitution Avenue, NW
Washington, DC 20230
11.020 - Cluster Grants
USA: Alabama; Alaska; Arizona; Arkansas; California; Colorado; Connecticut; Delaware; Florida; Georgia; Hawaii; Idaho; Illinois; Indiana; Iowa; Kansas; Kentucky; Louisiana; Maine; Maryland; Massachusetts; Michigan; Minnesota; Mississippi; Missouri; Montana; Nebraska; Nevada; New Hampshire; New Jersey; New Mexico; New York City; New York; North Carolina; North Dakota; Ohio; Oklahoma; Oregon; Pennsylvania; Rhode Island; South Carolina; South Dakota; Tennessee; Texas; Utah; Vermont; Virginia; Washington, DC; Washington; West Virginia; Wisconsin; Wyoming