EDA is committed to helping develop the economy and support small business. At the heart of these businesses are some of America’s most creative and hardworking dreamers and doers: entrepreneurs! Embodying the American spirit, these intrepid individuals tirelessly push forward every day, breaking barriers with innovative technologies and services to create the high-skill, high-wage jobs that help advance the U.S. economy.
EDA recognizes how influential entrepreneurship is in building resilient, regional economies, and today EDA is excited to announce that the Notice of Funding Opportunity (NOFO) for the 2018 Regional Innovation Strategies (RIS) program has been published and the competition is now open!
With up to $21 million available through the 2018 RIS NOFO, this year’s program will help spur innovation capacity-building activities in regions across the nation through two separate grants: the i6 Challenge and the Seed Fund Support (SFS) Grant competitions.
i6 Challenge ($16M): Across the country, regions and communities are helping entrepreneurs overcome challenging barriers to help build new companies and create jobs through the efforts of universities, community colleges, National Labs, state and local governments, incubators, and various other organizations. The i6 Challenge helps drive these efforts by supporting the creation and expansion of programs that increase the rate at which innovations, ideas, intellectual property, and research are translated into products, services, viable companies, and, ultimately, jobs.
Seed Fund Support (SFS) Grant Competition ($5M): The availability of funding for early-stage companies is an essential element of a healthy innovation-based regional ecosystem. Taking an idea or innovation from concept to market often requires capital, but in many regions across the country, innovators and entrepreneurs struggle to find that capital. SFS grants provide funding for technical assistance and operational costs that support the planning, formation, launch, or scale of cluster-based seed funds that will invest their capital in innovation-based startups with a potential for high growth.
The deadline for receipt of EDA applications is 11:59 P.M. EASTERN TIME ON WEDNESDAY, AUGUST 29, 2018. Applications received after this deadline will not be reviewed or considered. Applications will only be accepted electronically through www.grants.gov (Grants.gov). Applicants are advised to read the application carefully and submission information provided in Section D (p. 10) of this NOFO.
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