eda

EDA awards $29 million in SPRINT Challenge grants

A total of $29 million in grants will be awarded to 44 organizations across the country as part of the Scaling Pandemic Resilience through Innovation and Technology (SPRINT) Challenge provided by the Economic Development Administration. The SPRINT Challenge, with grants ranging from between $200,000 to $750,000, was developed last year with the goal of addressing the health and economic risks brought on by the COVID-19 pandemic through investments in entrepreneurship and innovation.

$1.9 trillion American Rescue Plan Act boosts help for innovation

The American Rescue Plan Act, a $1.9 trillion spending package to address the ongoing health and economic impacts of COVID-19, was signed into law today. The legislation includes several initiatives that could strengthen regional innovation economies. Most notable among these is the $10 billion State Small Business Credit Initiative (SSBCI), $3 billion for the Economic Development Administration (EDA), and $350 billion for state and local government relief.

SSBCI Reauthorization

$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.

$2M in STEM Challenge Grants awarded

The Economic Development Administration (EDA) has announced the seven recipients of the inaugural STEM Talent Challenge, awarding a total of $2 million in grants through the inaugural STEM Talent Challenge, which aims to boost local science, technology, engineering, and math (STEM) talent.

Federal budget continues growth for innovation initiatives

The final FY 2021 budget provides $1.4 trillion in total federal funding, including increases in some programs affecting the innovation economy. Among SSTI’s Innovation Advocacy Council priorities: EDA’s Build to Scale received an appropriation of $38 million, SBA’s Regional Innovation Clusters received $6 million, and SBA’s Federal and State Technology (FAST) program received $4 million. These are just a few of the federally-funded initiatives that support regional innovation economies and a wide range of federal R&D activities.

EDA awards $35 million for 52 Build-to-Scale projects

This week, the U.S. Economic Development Administration (EDA) announced the 2020 Build-to-Scale awards. In this round, nearly $35 million was awarded to 52 organizations to support regional strategies advancing entrepreneurship and innovation. Through the end of 2019, funded organizations had worked with more than 6,200 startups, facilitating $1.6 billion in investment and the launch of more than 9,000 products, according to EDA.

EDA makes $2 million available for STEM talent

The Economic Development Administration’s Office of Innovation and Entrepreneurship (OIE) released a funding opportunity this morning for a new STEM Talent Challenge. The opportunity provides $2 million in total to governmental and nonprofit entities working to implement STEM apprenticeship models in their regions.

Funding from Defense, EDA available

In separate announcements this week, the Department of Defense Office of Economic Adjustment (OEA) and the Economic Development Administration (EDA) revealed funding opportunities that can assist efforts to transform American innovations and support the growth of new companies.

Department of Defense

SSTI hosting EDA to discuss CARES funding – including forthcoming innovation opportunity

Join us for a special SSTI webinar on June 9th, when U.S. Economic Development Administration representatives will share information regarding $1.5 billion in economic development grants available for coronavirus response and recovery efforts at the local, state and regional levels. The EDA team also will discuss the pending innovation and entrepreneurship challenge component of the funding. Join us to learn more about qualifying for grants, which types of project support/assistance will be funded, how to apply, and more. There will be time for Q&A at the end of the presentation.

Bipartisan legislation would provide $110 billion for R&D, regional innovation

A bipartisan, bicameral group of legislators have introduced bills that would make a five-year commitment to increase America’s investment in R&D by $100 billion, while also investing $10 bi

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