Grant

November 30-December 6, 2018

  • $1,837,500 in two Economic Adjustment Assistance projects as follows:
    • $1,800,000 to the Guam Contractors Association Trades Academy, Inc., Tamuning/Guam County, Guam, to amend an existing grant to support the construction of a building to be used as a workforce training facility in Tamuning, Guam. The development will provide workforce development and training to the area and allow residents to have access to higher skill and pay employment opportunities. The grantees estimate that this investment will help create 445 jobs.
    • $37,500 to the City of Salisbury/Wicomico County, Maryland, to fund a study to assess the physical and economic feasibility of a multi-user port along the Wicomico River. A multi-user port can help enhance water borne commerce and the area economy by offering not only offload services but opportunities for local industry to export, which will strengthen the regional economy.
  • $21,000,000.44 in Forty (40) 2018 Regional Innovation Strategies Projects as follows:
    • $750,000 in RIS i6 Challenge funds to Vilcap, Inc., Washington, DC, to fund the Village Capital Ecosystem Mapping, Development, and Networking Project to identify barriers to access for ecosystem leaders in five key areas across the U.S. with a specific preference for those working with entrepreneurs in Opportunity Zones. This process will identify existing gaps in resources and curate better matches among investors and founders. By partnering with local ecosystem leaders, this process will link local resources with Village Capital's national networks to maximize support for founders and improve long-term viability.
    • $750,000 in RIS i6 Challenge funds to the Pennsylvania State University, University Park/Centre County, Pennsylvania, to fund the Penn State Entrepreneurship and Startup Services Initiative to expand three essential components of the Pennsylvania State University's (PSU) Startup Services Hub (SSH): an Entrepreneurship Assistance Legal Clinic (E-ship Legal Clinic), an IP Assistance Legal Clinic (IP Legal Clinic), and a Startup Leadership Network. Having the ability to bolster these three important startup support services will bring in much needed capital to grow the entrepreneurial ecosystem in Central Pennsylvania and expand outreach of legal services to Pennsylvania's Rural T region.
    • $750,000 in RIS i6 Challenge funds to the Exponential Impact, Colorado Springs/El Paso County, Colorado, to fund the Exponential Impact Seed to Scale Program to assist entrepreneurs with access to capital, mentors, workforce and graduated workspace in El Paso County, Colorado. The initiative is addressing the local and regional need for entrepreneurship infrastructure support to accelerate business and job creation in the region. This project will allow partnerships with private firms, local governments, non-profits and nearby universities to leverage experience, skills and investment capital to ensure these newly created ventures have the tools and access needed to start successful private-sector endeavors.
    • $750,000 in RIS i6 Challenge funds to the Department of Commerce, Baltimore, Maryland, to support the Maryland Department of Commerce in partnership with federal lab tech transfer offices, county economic development organizations, and military alliances with expanding the recently piloted Maryland Defense Technology Commercialization (DefTech) Center from a successful initiative to a statewide network. The DefTech's unique programs focus on educating entrepreneurs in the process of creating new products and supporting them with connections across the defense innovation cluster. DefTech supports strengthening the entrepreneurial ecosystem by helping to create new dual-use technologies that can be more rapidly deployed to the marketplace and diversify Maryland's economy.
    • $750,000 in RIS i6 Challenge funds to the Northeast Indiana Innovation Center, Inc., Fort Wayne/Allen County, Tennessee, to fund the Indiana Connected Health Internet of Things (IoT) Lab, a collaborative development center in Northeast Indiana. Individuals and groups with innovative IoT ideas will have the resources, tools, and networks to develop ideas into new products, new or expanded businesses, and new markets. This investment will help engage healthcare companies, IoT supplier companies, and applied-research universities and lead Indiana Economic Development organizations reaching global markets.
    • $750,000 in RIS i6 Challenge funds to the Medical Center of the Americas Foundation, El Paso/El Paso, Texas, to support the Medical Center for the Americas Foundation (MCA) with establishing the “MCA Innovation Center: Activating Tech Entrepreneurship.” This EDA investment will expand program reach and impact, and launch and scale high-tech startups across the County of El Paso, thereby creating impact with the growth of new companies, living wage jobs, and technology based industry development. The project will: develop a broad-based culture of idea generation as a way to nurture the growth of commercializable ideas; support high growth startups that have the potential to drive job and value creation in the region; and connect economic development strategies and technology commercialization resources within the County.
    • $750,000 in RIS i6 Challenge funds to Elevate Ventures, Inc., Indianapolis/Marion County, Tennessee, to support Elevate Ventures, Inc. with establishing the Elevate Ventures Indiana Statewide University Entrepreneurial Support System (SUESS), to provide sub-awards for entrepreneurial educational programs and resources to be established at, or accessed by, university-based startups and entrepreneurs across the State of Indiana. The goal of the SEUSS is to provide qualified Indiana-based institutions of higher education startups and entrepreneurs with resources that will enable them to move their scalable technology from idea through the technology readiness levels (TRLs) to commercialization and to develop a robust investment pipeline for the Indiana Statewide University Fund, as part of the SEUSS sustainability plan.
    • $750,000 in RIS i6 Challenge funds to the HealthShare Exchange of Southeastern Pennsylvania, Philadelphia/Philadelphia County, Pennsylvania, to support the HealthShare Exchange (HSX) of Southern Pennsylvnia with accelerating the HSX MarketStreet Platform to stimulate healthcare innovation and job creation. The Platform comprises of three components: the expansion and bolstering of the HSX MarketStreet Platform and process; a series of events and programs, at both the regional and national level, to create awareness of HSX MarketStreet and grow a vibrant ecosystem; and undertake marketing activities to collaborate with regional resources to maximize the number of participants in HSX MarketStreet, which will drive innovation and economic growth.
    • $750,000 in RIS i6 Challenge funds to the Research foundation for the State University of New York, Binghamton/Broome County, New York, to fund the Binghamton Acceleration of Cleantech Entrepreneurial and Economic Development (XCEED) Initiative to invigorate the growth of a Cleantech innovation cluster in the Greater Binghamton area of Upstate New York. Capitalizing on Binghamton University and Binghamton Incubator Program resources, XCEED will address these ecosystem gaps through novel entrepreneurship mentoring and support programming. The project will create jobs, launch new products and services, and help retain the region’s assets while reinventing its economic identity.
    • $750,000 in RIS i6 Challenge funds to the Greater Phoenix Economic Council, Phoenix/Maricopa County, Arizona, to fund the WearTech Research and Commercialization Center Development Project. The project will entail development of a business cluster to support entrepreneurial business enterprises within the medical equipment and device technology industry.
    • $750,000 in RIS i6 Challenge funds to the South Carolina Research Authority, Columbia/Richland County, South Carolina, to support the South Carolina Research Authority (SCRA) with establishing the South Carolina Medical Device Alliance (MDA). This multi-stakeholder partnership comprised of Clemson University (CU), Medical University of South Carolina (MUSC), and industry leaders, will form a regional innovation cluster to grow the economic impact of this sector through job creation and startup formation, as well as to attract international businesses to South Carolina. The MDA will advance technologies to market by designing solutions, determining initial commercial feasibility, de-risking innovations with multidisciplinary teams, and launching startups that have been rigorously evaluated by seasoned industry experts.
    • $749,839 in RIS i6 Challenge funds to the New Jersey Innovation Institute, Inc., Newark/Essex County, New Jersey, to fund the New Jersey Biopharmaceuticals Innovation and Enterprise Development Center/Foundry to forge an innovation commons and bring together a network of partners to expand a nascent innovation cluster in New Jersey in biopharmaceuticals (including cell and gene therapies and biologics). This network will: scout and match emerging research discoveries at top universities in the region and throughout the U.S. with top talent in New Jersey; nurture and curate new ventures with both technical and business support; and connect and expand the innovation ecosystem to support increasing economic activity within New Jersey, which will ensure a continuum for new and growing businesses in the cluster.
    • $749,802 in RIS i6 Challenge funds to the University of San Diego, San Diego/San Diego County, California, to support the University of San Diego with establishing the San Diego Regional Energy Innovation Network Expansion Project. The project will expand an incubator program to support entrepreneurial business enterprises in the early stages of development.
    • $748,244 in RIS i6 Challenge funds to the CLT Joules, Charlotte/Mecklenburg County, North Carolina, to support the Joules Accelerator and Research Triangle Cleantech Cluster (RTCC) with creating a Cleantech Commercialization Corridor (C3) comprised of three projects: a Cleantech Commercialization Committee, a new Cleantech Catalyst Accelerator, and an ecosystem engagement program featuring pitch events, symposiums and hackathons. C3 will provide: a platform for Cleantech startups to deliver solutions to North Carolina, a team to leverage the regional assets of the greater Charlotte and Research Triangle regions, and marketing events and application challenges across the region and the state. This investment will lead to increased entrepreneurship activity along the progression of technology-readiness levels, greater collaboration between municipalities, the creation of pilots and demonstration projects providing startups with market traction, export opportunities via industry connections, and the creation of new jobs.
    • $745,110 in RIS i6 Challenge funds to the Kansas State University, Manhattan/Riley County, Kansas, to support the Kansas State University with establishing the Global Food Systems (GFS) Economic Prosperity Accelerator to catalyze a number of initiatives to grow the knowledge-based food systems economy of Kansas. This project will focus on strategic capacity building, industry partnerships, business expansion, entrepreneurship and will help the development and commercialization of food and agricultural technologies, which will lead to long-lasting job creation throughout the region.
    • $724,295.55 in RIS i6 Challenge funds to the Southern Windsor County Incubator, Inc., Springfield/Windsor County, Vermont, to support the Southern Windsor County Incubator with establishing an integrated Innovation Campus in Springfield, VT. The Springfield Entrepreneurship Center offers a year-long residential startup program that brings innovative teams to the region and provides the catalyst for new economy business development and entrepreneurial aspiration. The Entrepreneurship Center is designed to bring new economy startups that are working at the intersection of data and technology to Springfield.
    • $731,250 in RIS i6 Challenge funds to the Tri-County Economic Development Corporation, Lakeside Park/Kenton County, Kentucky, to support the Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) with co-applicant Northern Kentucky University (NKU) in partnership with St. Elizabeth Healthcare, UpTech and the Northern Kentucky Area Development District (NKADD) with establishing the Northern Kentucky Health Innovation Initiative (NKY-HII) to create and attract companies, jobs and talent in the health innovation sector to the eight-county Northern Kentucky Region. By aligning the region’s top economic development, healthcare, university and startup accelerator assets, the NKY-HII will stimulate and commercialize health innovation.
    • $692,144 in RIS i6 Challenge funds to the University of Missouri System, Saint Louis/Saint Louis County, Missouri, to fund the Innovation Interchange of Greater St. Louis to incorporate a powerful online portal and programming to better connect the wealth of academic research expertise and resources with the industry sectors critical for economic growth in the region and across the bi-state area. The project will facilitate opportunities and provide support and resources for regional entrepreneurs and startups, and prepare and connect graduate students with internship and employment opportunities.
    • $675,607 in RIS i6 Challenge funds to the North Idaho College, Coeur D’Alene/Kootenai County, Idaho, to support the North Idaho College with establishing the North Idaho College Venture Center Experiential Entrepreneurship and Proof-of-Concept Lab Development Project to support entrepreneurial business enterprises in rural communities.
    • $576,302 in RIS i6 Challenge funds to the Winrock International Institute for Agricultural Development, Little Rock/Pulaski County, Arkansas, to fund the Innovation Fund Program to develop innovative businesses that can grow and scale quickly, thereby enhancing the entrepreneurial environment, creating new economic development, adding to job growth, and retaining talented young people in the state.
    • $519,956 in RIS i6 Challenge funds to the State Board for Community Colleges and Occupational Educational System, Pueblo/Pueblo County, Colorado, to fund the Southern Colorado Innovation Link (SCIL). The project will leverage a robust innovation and entrepreneurial ecosystem to encourage the development and commercialization of intellectual property, to support IIECM, to promote the success and growth of commerce, and foster sustained regional prosperity. This investment will help make Southern Colorado a preferred destination to incubate and grow innovative ideas, products and business through the coordination of resources, hands-on technical assistance, mentorship, experienced leadership, and access to capital. SCIL will build on the existing innovation clusters in Advanced Manufacturing (AM) and Infrastructure Engineering (IE).
    • $396,232 in RIS i6 Challenge funds to the Puerto Rico Science, Technology and Research Trust, Rio Piedras, Puerto Rico, to support the Puerto Rico Science, Technology, and Research Trust (Trust) with establishing the Resiliency and Business Innovation (RBI) Project. This investment will build a model for the mainland, and the world, on how to create innovation and economic opportunities after local disasters. There will be three primary components to the project: recruitment of entrepreneurs needing proof-of-concept for innovative technology development, conduct proof-of-concept research in collaboration with partner institutions of higher education and business and resiliency training and support provided.
    • $271,240 in RIS i6 Challenge funds to the Action Innovation Network, Inc., Fall River/Bristol County, Massachusetts, to support the Action Innovation Network with establishing the Plymouth Rock Project to identify, attract, land in incubators, and grow international high-growth, innovation-based technology startup companies in key sectors looking to establish a presence in the United States. This investment will be used to build capacity in Action's incubator network to effectively assist these international startups expand and develop new programs to build partnerships with international entrepreneurship centers and agencies to attract foreign startups. Further, these new relationships will provide cross-border opportunities for domestic companies looking to export their products and services.
    • $257,321 in RIS i6 Challenge funds to the Social Enterprise Greenhouse, Providence/ Providence County, Rhode Island, to support the Social Enterprise Greenhouse (SEG) with establishing the Building a Statewide, Inclusive Innovation Ecosystem which aims to develop a statewide innovation ecosystem that leverages the small size of the state and its cohesive networks and accessibility, and responds to current demographics and trends to fully maximize the potential of entrepreneurship and innovation in the State. Initial efforts will focus on four core activities: landscape and needs assessment, outreach and recruitment, business technical assistance and concierge and coaching. SEG will customize existing services and will develop new services as needed.
    • $300,000 in RIS Seed Fund Support Grant funds to the Bounce Innovation Hub, Akron/Summit County, Ohio to fund the Bounce Innovation Hub Fusion Fund to provide critical capital for innovation-based start-ups and companies with high growth potential in the software space. The Fusion Fund has a unique feature in that it provides access to facilities, mentors, and experienced resources available through the Bounce’s Innovation Hub which houses 300,000 square feet of state-of-the art maker-space, co-working space, conference space, office and laboratory space. This space is essential to accommodate the growth of our investment companies and provides an environment for early stage companies to network and have immediate and direct access to mentors and connections to resources within the building.
    • $300,000 in RIS Seed Fund Support Grant funds to Excell Partners, Inc., Rochester/Monroe County, New York, to fund the Excell Upstate NY Seed Fund to bring additional capital, strengthen due-diligence and deal-structuring capabilities to build the next generation of investor leadership in Upstate NY. The investment will enable Excell to provide access to capital to enhance the existing robust network of incubation and accelerator facilities, business support, and networking services. The project will strengthen and expand the network in terms of both capacity and geographic reach to support the ecosystem.
    • $300,000 in RIS Seed Fund Support Grant funds to the StartUpNV, Las Vegas/Clark County, Nevada, to fund the Southern Nevada Angel Conference Seed Fund Development Project. The project will entail the development of a seed fund program to support entrepreneurial business enterprises in the early stage of development.
    • $300,000 in RIS Seed Fund Support Grant funds to the Tampa Bay Wave, Inc., Tampa/Hillsborough County, Florida, to support two of the I-4 corridor region's most active tech startup organizations--Tampa Bay Wave and Starter Studio, which have partnered with two regional private early stage funds (Stage 1 Ventures and Kirenga Partners) to launch the I-4 Innovation Investors Collaborative (I4I2) - a regional investor collaborative focused on directly addressing the region's funding gaps. With a goal to catalyze early stage investment activity throughout Central Florida for local innovation-based, high-growth potential startups, I4I2 plans to: leverage established seed/early-stage funds and accelerators to launch a regional, collaborative seed fund model to serve Central Florida's innovative startups; educate regional accredited investor prospects about innovation-based investment opportunities to grow the region's investor pool; and pilot a minimum of 30 investments by accelerator seed funds in the collaborative that deploys at least $2 million during the three-year grant life.
    • $300,000 in RIS Seed Fund Support Grant funds to the Texas Tech University System, Lubbock/Lubbock County, Texas, to support the Innovation Hub at Texas Tech University (Texas Tech Research Park, Inc.) with establishing the Hub Fuel, A Seed Fund for Agriculture Technology (Ag-Tech) Startups to focus on the Ag-Tech eco-system which includes elements such as: natural resource sustainability, water and environment technologies, emerging contaminants and Nano-materials, satellite and atmospheric predictability, forecasting, sensor and chip IoT, software, packaging, imaging or mapping, big data analytics, supply chain technologies, smart electronics, recycling, food, logistics, wind engineering and mitigation, and plant and animal breeding and biotechnology in the West Texas region. Hub Fuel plans to invest in 25-35 Ag-Tech startups, investments ranging from $100k-$250K for three years. Follow on investment is anticipated in the median-size ranging between $500K-$1M+ with 300+ direct jobs created and another 270+ secondary jobs created or sustained.
    • $300,000 in RIS Seed Fund Support Grant funds to the California State University Fresno Foundation Inc., Fresno/Fresno County, California, to fund the Central Valley Regional Innovation Investment Fund Development Project. The project will entail the organization and implementation of a seed fund to support early stage entrepreneurial businesses.
    • $300,000 in RIS Seed Fund Support Grant funds to the Massachusetts Life Sciences Center, Waltham/Middlesex County, Massachusetts, to support the Massachusetts Life Sciences Center (MLSC), a quasi-state agency, with launching the operation of a new Massachusetts Gateway Cities Life Sciences Seed Fund. The fund will focus on early stage life sciences companies in the Gateway Cities outside of Greater Boston. The MLSC will assemble and coalesce regional partners through an annual convening where the MLSC will provide a forum for identifying the challenges and opportunities in life sciences in the targeted Gateway Cities and establish a plan for collaborative work. It will create opportunities to promote the region to investors, align resources to maximize impact, identify other gaps that might prevent life sciences innovation, and foster future economic growth and development in the region.
    • $300,000 in RIS Seed Fund Support Grant funds to the GoodCity NFP, Chicago, Illinois, to fund the GoodCity NFP INVEST Chicago Opportunity Fund, an equity- based, sustainable pool of capital, which will fund early-stage companies in Chicago’s designated Opportunity Zones. The investment will focus on technology, manufacturing, and other scalable startups that spring from the research and capacity development performed at surrounding universities: The University of Illinois, University of Chicago, Governor's State University, Illinois Institute of Technology, City Colleges of Chicago, Chicago State University, and Northwestern University. Additionally, the investment will help increase access to capital for startups and investing in community infrastructure such as shared offices, incubators, accelerators, and housing, it will result in 250-400 new jobs locally and serve as a replicable model for other metropolitan communities.
    • $300,000 in RIS Seed Fund Support Grant funds to the New Mexico Angels, Inc., Albuquerque/Bernalillo County, New Mexico, to fund the Educational Access to Capital Program and Seed Fund Program Expansion. These programs will be coordinated with state agencies and local chambers of commerce, and supported by a virtual office platform to provide much needed entrepreneurial services and investment capital to undeserved communities and rural communities located in New Mexico.
    • $300,000 in RIS Seed Fund Support Grant funds to Innovate Mississippi, Jackson/Hinds County, Mississippi, to support Innovate Mississippi with establishing the Formation of a New Seed Fund to support the Mississippi Telehealth Cluster. Innovate Mississippi works closely with the emerging Mississippi Telehealth Cluster and its various stakeholders and members to develop seed capital to support new technologies supporting the cluster and cluster growth.
    • $300,000 in RIS Seed Fund Support Grant funds to Launch New York Inc., Buffalo/Erie County, New York, to fund the Building Inclusive Capital Access Through an Investor Network to accelerate the growth of Upstate New York's investment and entrepreneurial community by augmenting traditional equity capital sources with a syndicate representing a diversity of investors and seed stage investment opportunities. The Investor Network provides open access to all accredited investors and the full array of entrepreneurs in the local ecosystem regardless of demographics, affiliation with a specific organization, geographic location, or industry sector. The open access approach will leverage digital technology to connect both existing and new stakeholders through outreach, education, dedicated investment expertise, syndication leadership, and collaboration.
    • $300,000 in RIS Seed Fund Support Grant funds to the Southside Business Technology Center, Inc., Danville, Virginia, to fund the Launch Place Seed Fund2 to Support Rural Entrepreneurship. The Launch Place (TLP) is a non-profit seeking to energize and diversify the Dan River Region's economy through entrepreneurship development and business consulting services. TLP's overall goal is to assist the region's transition from its historically industrial economy into a global innovation "idea" economy that recruits, retains, and develops entrepreneurial start-ups and expansions. TLP provides pre-seed, seed, and growth investments to both "home-grown" companies and companies from further away willing to establish operations in the Dan River Region.
    • $299,993 in RIS Seed Fund Support Grant funds to the Regents of the University of Michigan, Ann Arbor/Washtenaw County, Michigan, to fund the University of Michigan Monroe Brown Biomedical Seed Fund Expansion. The program will successfully translate academic research to market faces gaps in early-stage funding between the point of federally-funded research to investment in a technology startup, leading to increased follow-on funding, job growth and competitiveness of the growing biomedical innovation ecosystem in the Midwest region.
    • $299,864 in RIS Seed Fund Support Grant funds to the New Orleans BioInnovation Center, Inc., New Orleans/Orleans County, Louisiana, to support the New Orleans BioInnovation Center (NOBIC) with establishing the Louisiana Research Venture Fund. The fund will provide essential seed capital to innovation-based, high-growth businesses headed by Louisiana research institution faculty, staff, students, and alumni. The investment will provide early-stage capital and follow-on investments to businesses throughout Louisiana.
    • $299,750 in RIS Seed Fund Support Grant funds to the Arizona BioIndustry Association, Inc., Chandler/Arizona County, Arizona, to fund the Arizona Bioscience Cluster Sustainable Seed Fund Development Project. The project will entail the development of a seed fund to provide access to financial capital for early stage entrepreneurial business enterprises.
    • $249,998 in RIS Seed Fund Support Grant funds to the Ben Franklin Technology Partners of Southeastern Pennsylvania, Philadelphia/Philadelphia County, Pennsylvania, to support the creation, development and launch of the Greater PHL Opportunity Zones Seed Fund ("Fund") to provide capital, technical assistance and support to help technology-focused companies grow and commercialize their products in qualified Opportunity Zones. The vast majority of other Opportunity Zone funds and initiatives will focus on real estate without incorporating a focus on business creation and growth. The Fund will work with anchor institutions, intermediaries and investors to secure capital for investments in new technology-focused businesses in qualified Opportunity Zones. It is anticipated that the Fund will be $15-$20 million over five years.