The U.S. Economic Development Administration (EDA) Regional Innovation Strategies Program has announced two funding opportunities that aim to increase job growth and global competitiveness of regional economies through technology commercialization and entrepreneurship.
The 2019 i6 Challenge offers grants of up to $750,000 to support projects that to increase entrepreneurship driven by innovations, ideas, intellectual property (IP), and applied research through the process of technology commercialization and that result in new businesses, accelerated paths to export, increased FDI, and new jobs. Projects can be physical or virtual, existing or new. Funding may be used for a variety of purposes; however, construction costs are not eligible.
The 2019 Seed Fund Support (SFS) Grant Competition offers grants of up to $300,000 for technical assistance and operational costs, such as feasibility studies and planning activities, 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. Eligible funding may be used for personnel, program development, and equipment, but may not be used for construction. Neither EDA nor match funds may be used to invest in startups, other companies, or seed funds.
Eligible applicants include states, indian tribes, units of local government, nonprofits, institutions of higher education, public-private partnerships, science and research parks, and economic development organizations or similar entities. A 1:1 dollar for dollar local match is required.
Applications for Regional Innovation Strategies grants are due by Thursday, April 4, 2019.
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