Build to Scale
Within the Build to Scale opportunity, two challenges aimed at supporting technology entrepreneurs will be funded by the U.S. Economic Development Administration (EDA).
The Venture Challenge focuses on advancing technology-based economic development. Looking for programs producing businesses that can scale. The “build” tier provides up to $750,000 and the “scale” tier provides up to $2 million in federal funding over the grant period.
The Capital Challenge seeks to increase formation and access to capital, particularly in communities where there is a limited supply of equity-based funding and a demonstrated opportunity to invest in technology based businesses. The “form” tier provides up to $300,000 in federal funding for identifying and organizing investors in the early-stage, and the “deploy” tier provides up to $750,000 to start a fund.
Eligible entitles include nonprofits, venture development organization, public-private partnership, federal labs, economic development organizations, higher education institutions, and more.