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This information was gathered from a November 2023 workshop our team attended, that was put on by the GA Small Business Development Center. They have a wealth of resources for small businesses, a lot of them free. For more information you can visit their website at https://georgiasbdc.org/ For businesses in other states, you can search for the local SBDC in your area.
Grants are a way that the government, foundations, some corporations and individuals assist in having their passions for something fulfilled. There are many different types of grants and grantors.
Grants are used to fund research or government programs to achieve the objective the government wishes to occur; for example to reduce homelessness, discover vaccine for disease, stimulate the economy etc.
Few grantors have the objective of someone starting a business, but the business could be addressing a need that the grantor has a passion about. When looking for grants, grantee needs should align with the grantor’s passion or objective.
Here are a few myths relating to Grants:
There are No Restrictions.
Many small business owners believe that you can use the money however you want, but often this isn’t true. Grants are typically given out for a specific use. You will need to prove you’re making progress, and you’ll need to fill out reports to the Grantor. Failing to do so could mean the grant is taken away from you, you’ll pay fines, or even serve time in jail, so it’s necessary to follow the grant requirements.
Grant applications are simple to put together.
It may take weeks or even months to complete a grant application, so don’t be fooled that it’s something you can write in a day or two. The work involves a lot of planning before you even begin writing, including assessing if you’re a good fit, assigning roles, and identifying partners. Give yourself plenty of time to put the application together.
Grants are easy to get.
There are many business looking for Grants. Most grant programs are extremely competitive, which means they can be more difficult to get than other small business funding. Some grants have thousands of applications, it is important to make sure you put together the best possible version of an application before submitting to increase your chances.
The business with the largest need is most likely to get a grant.
Grants are usually awarded to the business that will most likely fulfill the grant agency’s goals (Passion), not the ones that need it the most. Grantors look at credibility, a clear plan for the funds, and commitment to the business goals above financial need.
ductions, saving you money every year.
RESEARCH, RESEARCH, THEN RESEARCH SOME MORE!
The United States Government has been issuing grants for centuries. The goal of granting funds is to stimulate the economy by creating new jobs and supporting businesses.
Once granted, the government does not require funds to be repaid (free money). Every funding opportunity comes with requirements the applicants need to follow.
The objective of Phase I is to establish the technical merit, feasibility, and commercial potential of the proposed R/R&D efforts and to determine the quality of performance of the small business awardee organization prior to providing further Federal support in Phase II. SBIR/STTR Phase I awards are generally $50,000 - $295,294 for 6 months (SBIR) or 1 year (STTR), without a waiver
The objective of Phase II is to continue the R/R&D efforts initiated in Phase I such as Prototype development. Funding is based on the results achieved in Phase I and the scientific and technical merit and commercial potential of the project proposed in Phase II. Typically, only Phase I awardees are eligible for a Phase II award. SBIR/STTR Phase II awards are generally $$500,000 to $1,972,282 for 2 years without a waiver
The objective of Phase III is for the small business to pursue commercialization objectives resulting from the Phase I/II R/R&D activities. The SBIR/STTR programs do not fund Phase III. At some Federal agencies, Phase III may involve follow-on non-SBIR/STTR funded R&D or production contracts for products, processes or services intended for use by the U.S. Government.
America’s Seed Fund Startup Expo (https://www.sbir.gov/startupexpo)
The U.S. Small Business Administration (SBA), Office of Investment and Innovation (OII) plays a substantial role in the Federal Lab-to-Market ecosystem, serving as the hub of the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs – also known as America’s Seed Fund. These highly competitive programs encourage domestic small businesses with the potential for commercialization to engage in Federal Research/Research and Development (R&D) and are an important resource for a wide-range of researchers, innovators, inventors, entrepreneurs, and startups working on big ideas. Applications were due by Feb. 24th
America’s Seed Fund Startup Expendables entrepreneurs with technology developed through the SBIR/STTR programs an opportunity to present their innovative ventures to leading members of the broader innovation ecosystem and the American Public.
USAID.gov-USAID is the world’s premier international development agency and a major force driving development results. USAID’s work propels U.S. national security and economic prosperity, demonstrates American generosity, and promotes a path to recipient self-reliance. The goal of foreign aid should be ending the need for its existence, and USAID provides development assistance to help countries on a development journey to self-reliance – looking at ways to help lift lives, build communities, and establish self-sufficiency.
Development Innovation Ventures Grant—Open on rolling basis. Keep in mind that thethree core principles are: (a) rigorous evidence of impact, (b) cost-effectiveness, and (c) a viable pathway to scale and sustainability via the market or public sector. DIV assesses each applicant through the lens of these principles, commensurate to the stage or type of funding sought.
USDA: Meat and Poultry Processing Expansion Program
Higher Blends Infrastructure Incentive Program (HBIIP) Current Closing Date for Applications:
Sep 30, 2024 Award Ceiling: $5,000,000
The requirements are to be in an area with 50,000 or less in population and a small business is defined as 500 employees or less.
Foundation Grant Directory Online - https://candid.org/