Author: US EDA Staff 10/17/2022 EDA
Today, the U.S. Economic Development Administration awarded 51 “Build to Scale” grants – totaling $47 million – to organizations that support technology entrepreneurs, catalyze innovation and fuel economic growth. [Read full press release here]
EDA’s “Build to Scale” program provides annual grants that aim to accelerate technology entrepreneurship by increasing inclusive access to support and startup capital. The 2022 awardees will leverage an additional $48 million in matching funds from a variety of private and public sector sources. These EDA investments support advanced manufacturing, bioscience, clean energy and blue economy clusters in regions throughout the United States.
WATCH ANNOUNCEMENT VIDEO
The 2022 Build to Scale program was comprised of two competitions––the Venture Challenge and the Capital Challenge. The Venture Challenge supports programs that enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models. The Capital Challenge increases access to capital in communities where risk capital is in short supply by providing operational support for early-stage investment funds, networks, and training programs that focus on both traditional and hybrid equity-based financing.
2022 Venture Challenge Grant Recipients
- AgLaunch, Memphis, TN ($1.5 million)
- Battle Creek Unlimited, Battle Creek, MI ($375,000)
- Benedict College, Columbia, SC ($525,000)
- Black River Innovation Campus, Springfield, VT ($1.5 million)
- Chicostart, Chico, CA ($549,999)
- City and County of Denver, Denver, CO ($1.5 million)
- Codefi Foundation on Rural Innovation, Cape Girardeau, MO ($2 million)
- Colorado State University Research Foundation, Fort Collins, CO ($749,117)
- Current, Chicago, IL ($516,639)
- Eastern Shore Entrepreneurship Center and Frederick Innovative Technology Center, MD ($1.8 million)
- Fearless Solutions, Baltimore, MD ($661,725)
- Georgia Southern University, Statesboro, GA ($600,000)
- Greater Green Bay Chamber, Green Bay, WI ($467,500)
- Innovate Mississippi, Jackson, MS ($375,000)
- Innovation Park, Tallahassee, FL ($724,911)
- Innovation Works, Pittsburgh, PA ($2 million)
- Launch Tennessee, Nashville, TN ($2 million)
- Lawrence Technological University, Southfield, MI ($813,330)
- New Energy Nexus, Brooklyn, NY ($2 million)
- New Mexico State University, Las Cruces, NM ($1.2 million)
- New Orleans Startup Fund, New Orleans, LA ($1.2 million)
- Northern State University, Aberdeen, SD ($748,036)
- Penn State University, University Park, PA ($1.8 million)
- Red Wing Ignite, Red Wing, MN ($2 million)
- Rutland Economic Development Corporation, Rutland, VT ($732,919)
- Seattle Metropolitan Chamber of Commerce, Seattle, WA ($674,874)
- Shawnee State University, Portsmouth, OH ($749,356)
- Southwestern Community College, Chula Vista, CA ($1.5 million)
- StartUpNV, Las Vegas, NV ($1.8 million)
- Tampa Bay Wave, Tampa Bay, FL ($2 million)
- University of California, Riverside, CA ($2 million)
- University of New Mexico – Taos, Ranchos De Taos, NM ($700,944)
2022 Capital Challenge Grant Recipients
- Alliance for SoCal Innovation, Pasadena, CA ($300,000)
- Battle Creek Unlimited, Battle Creek, MI ($147,750)
- Cleveland Water Alliance, Cleveland, OH ($299,302)
- Excell Partners, Rochester, NY ($750,000)
- Innovate Mississippi, Jackson, MS ($263,617)
- Launch NY, Buffalo, NY ($750,000)
- Louisville Healthcare CEO Council, Louisville, KY ($299,970)
- Minneapolis Saint Paul Regional Economic Development Partnership, St. Paul, MN ($300,000)
- New England Aquarium Corporation, Boston, MA ($750,000)
- Next Foundation, Tucson, AZ ($519,999)
- Propeller, New Orleans, LA ($750,000)
- Regional Accelerator & Innovation Network, Vancouver, WA ($750,000)
- StitchCrew, Edmond, OK ($713,201)
- University of Memphis, Memphis, TN ($700,196)
- University of Nebraska Medical Center, Omaha, NE ($300,000)
- University of North Carolina at Charlotte, Charlotte, NC ($299,987)
- University of Utah, Salt Lake City, UT ($750,000)
- Venture Central, Charlottesville, VA ($299,871)
- Village Capital, Washington, D.C. ($541,700)
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