EDA's Office of Innovation & Entrepreneurship is committed to furthering technology-based economic development initiatives that accelerate high quality job growth, create more economic opportunities, and support the future of the next generation of industry leading companies. To advance these goals, EDA awards grants through the Build to Scale Program (formerly the Regional Innovation Strategies Program) for activities designed to develop and support regional innovation initiatives.
Under the Build to Scale Program, EDA is soliciting applications for two separate competitions: (1) the Venture Challenge and (2) the Capital Challenge. Applicants may apply to multiple challenges but may only submit one application per competition.
Previous grantees can be seen at https://www.eda.gov/oie/historical/.
EDA is not authorized to provide grants to individuals under this NOFO, and such requests will not be considered for funding. Organizations that are or plan to be operating within the period of performance of a previously-awarded grant for the Venture Challenge, Industry Challenge, or i6 Challenge (the predecessor to the Venture Challenge) are not eligible for a 2022 Venture Challenge grant. Correspondingly, organizations that are or plan to be operating within the period of performance of a previously-awarded grant for the Capital Challenge or Seed Fund Support (the predecessor to the Capital Challenge) are not eligible for a 2022 Capital Challenge grant.
Entities that are eligible for funding include:
Applications are due July 28, 2023.
For FY23, the EDA has been appropriated $50 million for grants. Award amounts vary by program type:
A cost share of at least 50% is required.
A total of 65 awards are expected in FY23.