Best Practices

EDA Opens Grant Applications for Entrepreneurial Communities

Published Aug 09, 2015 by Sarah Mote

The U.S. Economic Development Administration has announced its 2015 RIS Program Competition, which includes $10 MM to support two unique grant opportunities this year: the i6 Challenge and Seed Fund Support.

i6 Challenge

The i6 Challenge is a national competition based on the most impactful national models for startup creation, innovation and commercialization.

In an effort to promote and support inclusion, EDA expects to award up to $2.5 million of the total $8 million to projects that
  • provide services to rural areas
  • create specific outreach plans to populations and communities that are underrepresented in innovation and entrepreneurship
  • propose specific, quantitative metrics to measure the effectiveness of those plans will receive special consideration. 

Seed Fund Support

These cluster grants provide funding for technical assistance to support feasibility, planning, formation or launch of cluster-based seed capital funds that are offered to innovation-based, growth-oriented startup companies in exchange for equity. Funds must include job creation in their consideration for issuing capital, and funds that reach out to underrepresented communities and populations and measure the effectiveness of that outreach will receive special consideration. 

To learn more, visit the EDA grant announcement or take advantage of these opportunities. 
  • Aug 12, 1 p.m. ET:  Twitter Chat featuring Brad Feld, hosted by @US_EDA and OIE Director@ChiefMuse. Follow the conversation with #RISP15.
  • Aug. 13 at 4p.m. ET: SSTI-hosted webinar (general RIS): REGISTER for the webinar
  • Aug. 18: White House Rural Council and USDA cohosted webinar (RIS rural component). Check ​the EDA website for time and registration information.