In an era marked by constrained regional innovation funding and a national AI training need growing exponentially, it seems odd to be writing that a new $25 million federal funding competition may receive fewer than the necessary qualified applications to spend all of the available money for awards. The program at risk is the AI Upscale Accelerator Program, launched by the Economic Development Administration, which has a rapidly approaching deadline of July 10.
One of the hesitations for prospective applicants might be illuminated within EDA’s description of the need for the funding opportunity: “The greatest workforce challenge of AI may be the speed of change itself. As AI accelerates shifts in job tasks and skill requirements, companies, educational institutions, and the workforce system must adapt in real time.”
AI talent is a competitive advantage recognized by innovation cluster initiatives, trade associations, venture development organizations, and technology-based economic development initiatives across the country. Entities in this broad array of activities focused on growing local economies through innovation may want to review the AI Upscale Accelerator Program as a means of supporting a pilot, industry-led, AI training initiative strategically assisting important industries and businesses in their regions to address their expanding AI skill needs.
A small pool of qualified applications for EDA’s AI Upskill Accelerator may increase the likelihood of being selected.
Grants may range from $500,000 to $8 million, depending on the stage of development for the proposed work. Federal funds may be used to support only 60% of the effort.
EDA has made several resources available to potential applicants here, including a series of webinars that walk through the process.