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EDA announces new rounds of funding opportunities for entrepreneurs and EDOs
Kirill Abbakumov   on Thursday, June 1, 2017 at 12:00:00 am

On May 10th, 2017 the U.S. Economic Development Administration (EDA) today published the Notice of Funding Availability (NOFA) for its 2017 Regional Innovations Strategies (RIS) program with $17 million being made available to help spur innovation capacity-building activities in regions across the nation. Under this competition, EDA is seeking applications for two separate funding opportunities: the i6 Challenge and the Seed Fund Support (SFS) Grant competition.

  • The $13 million i6 Challenge helps entrepreneurs overcome barriers in building new companies and creating jobs 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.
  • The $4 million Seed Fund Support (SFS) Grant Competition provide early-stage companies with 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 start-ups with a potential for high growth.

Prospective applicants are encouraged to refer to the Notice of Funding Availability on grants.gov for more details. The application period will close June 23, 2017.

On May 12th, 2017, the U.S. Department of Commerce announced the availability of funding for the FY 2017 International Engagement Ready Communities Competition. This $600,000 program seeks to help drive foreign direct investment (FDI) in U.S. communities with diverse economic development needs by enhancing their FDI attraction and export promotion efforts. The program also seeks to reduce resource constraints on economic development organizations (EDOs) that focus on investment promotion.

Through this program, EDA, SelectUSA, and the Trade Promotion Coordinating Committee (TPCC) will support empirical research on successful international engagement strategies and develop best practice reports and a competitiveness assessment tool. These elements will be incorporated into a user-friendly EDO toolkit and training guide to help local communities assess and increase their ability to become globally competitive while enhancing their trade and FDI promotion activities.

Eligibility is open to organizations engaged in economic or infrastructure development opportunities, including state and local governments, Tribal organizations, institutions of higher learning, and other related public or private organizations or associations.

Grant applications are due by June 12. For more information about how to apply, visit: https://www.grants.gov/web/grants/view-opportunity.html?oppId=293705, or contact: RNTA@eda.gov