EDA Announces $15M for Seed-Grant and I6 Rounds
In this 2016 round, a total of $15 million in Federal funding is available to create and expand cluster-focused proof-of-concept and commercialization programs and early-stage seed capital funds through the i6 Challenge and the Seed Fund Support (SFS) Grant competition, respectively. Under this FFO, $13 million is available for i6 Challenge grants and $2 million is available for SFS grants.
The i6 Challenge grants help regions build capacity for turning ideas into products and ultimately into viable companies that create jobs. The program was launched in 2010 as part of the White House’s Startup America Initiative and is now in its sixth iteration.
The Seed Fund Support Grants (SFS) competition addresses another need of growth-oriented entrepreneurs: access to capital. Investments made through this program support feasibility, planning, formation, or launch of equity-based seed capital funds that invest in startups during their earliest, critical stages.
Now is the time to start planning for I6 and SFS proposals.
For potential applicants, please note that the application period is open for 60 days and will close at 11:59pm Eastern Time on June 24, 2016.