EDA is now accepting applications for its $50 million Build to Scale (B2S) program to support projects that strengthen equitable ecosystems and increase access to capital for innovators, entrepreneurs, and startups. The program builds regional economies by supporting scalable startup ecosystems through entrepreneurial support organizations, as well as helps communities and regions grow technology-driven businesses; create high-skill, high-wage jobs; and build the industries of the future.
The FY23 B2S Notice of Funding Opportunity (NOFO) was published today. The deadline to apply is July 28, 2023. [Apply Here]
The FY 2023 Build to Scale program is comprised of two competitions – the Venture Challenge and the Capital Challenge. The Venture Challenge supports programs that enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models. The Capital Challenge increases access to capital in communities where risk capital is in short supply by providing operational support for early-stage investment funds, networks, and training programs that focus on both traditional and hybrid equity-based financing.
Each challenge has multiple funding tiers. This year, EDA added the “Ignite” tier to the Venture Challenge to provide an entry-level opportunity for organizations that are building more nascent technology innovation ecosystems. For more details, see the graphic on the right and visit the NOFO.
Eligibility is open to cities, counties, states, other political subdivisions of states, and Indian tribes; or entities supported by a state or political subdivision of a state that is one of the following: a nonprofit organization, institution of higher education, public-private partnership, science or research park, federal lab, venture development organization, economic development organization, or a consortium of any of the aforementioned.
For more information, visit EDA’s Build to Scale (B2S) program website.
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.