50 Organizations Awarded "Build to Scale" Program Grants Totaling $36.5 Million

 

10/07/2021

Grantee Projects Fuel Innovation and Tech-Based Economic Development

Today, EDA announced that 50 organizations — including nonprofits, institutions of higher education, state government agencies, and other entrepreneurship-focused organizations — from 26 states will receive grants totaling $36.5 million to support programs that fuel innovation and tech-based economic development. (Read full press release)

The grants are part of the “Build to Scale” program, which is administered annually by EDA. The program aims to accelerate technology entrepreneurship by increasing inclusive access to business support and startup capital.

The 2021 awardees will leverage an additional $40 million in matching funds from a variety of private and public sector sources. These EDA investments support aerospace, agtech, blue economy, bioscience, advanced manufacturing and health technology clusters in regions throughout the U.S. and will lead to stronger, more resilient economies across the country.

The FY21 Build to Scale program was comprised of two competitions––the Venture Challenge and the Capital Challenge.

  • The Venture Challenge seeks to leverage regional competitive strengths to accelerate innovation and job creation through high-growth technology entrepreneurship and fostering 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, angel capital networks, or investor training programs that focus on both traditional and hybrid equity-based models.

 

2021 VENTURE CHALLENGE GRANT RECIPIENTS

 

  

2021 CAPITAL CHALLENGE GRANT RECIPIENTS

         

SOURCE: https://content.govdelivery.com/accounts/USEDA/bulletins/2f4e51f


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