The budget for the MBDA Commercial Readiness Grant has several unusual budget mandates that all applicants should be aware of. Here are the top three.
#1 There is a mandatory cost share
The mandatory cost share or cost match ranges from 10% to 25%, depending on the level of funding requested. Cost matching can be in the form of currency or in-kind services such as labor, supplies, events, or space. The table below shows tier levels and the associated non-federal match required for each.
#2 There is a travel requirement
Travel is mandatory in this solicitation, and a budget line item is expected to accommodate the required trips. Travel expenses for all required travel items should include transportation, lodging, and per diem and must align with the current Federal travel guidelines. Applicants are required to budget for a 4-day trip for two staff (one of whom must be the project director) to attend MBDA’s National Capital Readiness Program Implementation Meeting in Washington, DC, during the first year of the program. T
Applicants are also required to budget for two additional trips for each year of the program for up to two staff (one of whom must be the project director) to attend MBDA’s Minority Enterprise Development (MED) Week and MBDA’s National Training Conference. Applicants should plan for each trip to be 4 days. The location of the events may vary. To estimate costs, applicants are encouraged to use Washington, DC, as the location.
MBDA will notify applicants no later than two months in advance of each planned event whether in-person attendance is required or whether virtual attendance is permissible. However, if virtual attendance is permissible, applicants will be allowed to reallocate the associated travel budget items to other
#3 The budget is dispensed annually and subject to discontinuation
This is NOT a lump sum award. Firstly, subject to the availability of funding, MBDA expects to issue awards for a total term of four years from July 1, 2023 – June 30, 2027. Secondly, the initial budget year will be 12 months. Thirdly, Subsequent budget years will be granted on 12-month terms, as approved by a review from MBDA. Finally, If at any time MBDA feels program outcomes are not being met or the award agreement is breached in any way they reserve the right to discontinue funding the project.
A budget best practices webinar will be held by the MBDA on January 24th. It is highly recommended all applicants attend!
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