The U.S. Economic Development Administration is accepting applications for its FY24 $50 million Build to Scale program to support organizations that strengthen entrepreneurial ecosystems to support entrepreneurs as they build and scale technology-driven businesses—and the employees in the new, good jobs they create—to make and deliver new technology products and services.
Click here to read the full FY24 Build to Scale Notice of Funding Opportunity (NOFO) (PDF), which was published today on Grants.gov. The deadline to apply is 4:59 p.m. Eastern Time on October 28, 2024.
Build to Scale (B2S) grants fund programs that support innovators, entrepreneurs, and startups transforming ideas into the critical, emerging technologies of the future.
The B2S program aims to:
- build capacity for entrepreneurs and innovators to invent, improve, and bring to market new technology products and services;
- accelerate the growth of regional economies focused on industries of the future;
- empower communities to enable technology innovators and entrepreneurs to pilot and test their products and services; and
- equitably and inclusively increase access to capital for technology-enabled entrepreneurs.
EDA expects to make 40 to 50 awards, with expected award amounts spanning from the low hundreds of thousands of dollars up to $5 million.
Eligible applicants include a state, an Indian Tribe, a city or other political subdivision of a state, and an entity whose application is supported by a state or political subdivision of a state and that is:
- a nonprofit organization;
- an institution of higher education;
- a public-private partnership;
- a science or research park;
- a Federal laboratory;
- a venture development organization;
- an economic development organization or similar entity that is focused primarily on improving science, technology, innovation, or entrepreneurship; or
- a consortium of any of the aforementioned entities.
EDA has also implemented a Tech Hubs and National Science Foundation (NSF) Engines benefit of designation with additional consideration for B2S proposals aligned with a Tech Hub’s or Engine’s strategy.
Please note that, unlike in past years, the FY24 B2S program will not have separate Venture and Capital challenges. However, the core goals of the program remain the same: (1) to enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models; and (2) to increase 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.
EDA administers the B2S program, which is authorized under Section 27 of the Stevenson-Wydler Technology Innovation Act.
For more information, visit EDA’s Build to Scale (B2S) program website.
If you have questions, email OIE@EDA.gov.