As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. Learn more about membership...
EDA releases $45 million Build to Scale NOFO
Earlier today, the Economic Development Administration announced the 2022 notice of funding opportunity (NOFO) for the Build to Scale program. State and local governments, nonprofits, institutions of higher education, National Labs and others are eligible to compete for a total of $45 million in funds to support new and expanded initiatives that support regional commercialization, entrepreneurship and capital formation efforts.
EDA has slightly restructured the program for this year’s competition, with two funding streams and two levels of awards for each.
- The “Venture Challenge,” which focuses on innovation and entrepreneurship, includes a “Build” tier for demonstration projects up to $750,000 and a “Scale” tier for proven initiatives at up to $2 million.
- The “Capital Challenge,” which focuses on forming and supporting innovation finance, includes a “Form” tier up to $300,000 and a “Deploy” tier of up to $750,000.
EDA has posted the formal NOFO and explanatory materials on its website. Applications are due June 13.