$17 Million
Available to Spur Regional Innovation
The U.S. Department of Commerce’s Economic Development
Administration (EDA) today published the Notice of Funding Availability (NOFA)
for its 2017 Regional Innovations Strategies (RIS) program. The application period will close June 23,
2017.
The $17 million being made available through the RIS NOFA will
help to spur innovation capacity-building activities in regions across the
nation. Under this competition, EDA is seeking
applications for two separate funding opportunities: the i6 Challenge and the Seed
Fund Support (SFS) Grant competition.
- i6
Challenge ($13M): Across
the country, regions and communities are helping entrepreneurs overcome
challenging barriers to help build new companies and create jobs through the
efforts of universities, National Labs, state and local governments,
incubators, and various other organizations. The i6 Challenge helps drive these
efforts by supporting the creation and expansion of programs that increase the
rate at which innovations, ideas, intellectual property, and research are
translated into products, services, viable companies, and, ultimately, jobs.
-
Seed Fund Support (SFS) Grant Competition ($4M): The
availability of funding for early-stage companies is an essential element
of a healthy innovation-based regional ecosystem. Taking an idea or
innovation from conception to market often requires capital, but in many
regions across the country, innovators and entrepreneurs struggle to find
that capital. SFS grants provide funding for technical assistance and
operational costs that support the planning, formation, launch, or scale
of cluster-based seed funds that will invest their capital in
innovation-based startups with a potential for high growth.
Prospective
applicants are encouraged to refer to the Notice of Funding Availability on grants.gov for more details
on both the i6 Challenge and Seed Fund Support grants, including eligibility, matching-fund requirements,
application and submission deadlines, and other information. Funding for both programs is available to all communities
regardless of level of distress.
EDA’s Office of Innovation and Entrepreneurship leads the RIS program to spur innovation capacity-building
activities in regions across the nation.
In
collaboration with SSTI, OIE will present an informational webinar on May 22,
2017, at 3:00pm ET. Register now!
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