$38 million Build to Scale program open for applications

This week, the U.S. Economic Development Administration announced that the Build to Scale program has opened for applications. The Build to Scale program provides operating funding for tech-based economic development initiatives in regional economies. This program has long been a top priority for SSTI’s Innovation Advocacy Council, and we are happy that our continued success in raising the program’s appropriation means this year’s funding opportunity will award $38 million in grants.

The FY 2021 program is comprised of two competitions, the Venture Challenge grants with two funding levels: one at $750,000 to build programs and another up to $1.5 million to scale programs; and the Capital Challenge, which has increased its level of funding and offers grants up to $400,000 to increase access to capital in communities where risk capital is in short supply.

Eligible applicants for EDA financial assistance under this Notice of Funding Opportunity include: states; Indian tribes; cities or other political subdivisions of a state; an entity whose application is supported by a state or a 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, or an economic development organization or similar entity; or a consortium of any of the immediately aforementioned entities. Applicants must provide a matching share from non-federal sources of at least 50 percent of the total project cost.

More information about the program is available here, and EDA has also posted an informational webinar that gives an overview of the FY 2021 Build-to-Scale program you can access here. The application deadline is April 29, 2021.