EDA has implemented a Tech Hubs and National Science Foundation (NSF) Engines benefit of designation with additional consideration for B2S proposals aligned with a Tech Hub’s or Engine’s strategy.
Please note that, unlike in past years, the FY24 B2S program will not have separate Venture and Capital challenges. However, the core goals of the program remain the same:
(1) to enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models;
and (2) to increase 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.
The Build to Scale (B2) program supports organizations that strengthen entrepreneurial ecosystems to support entrepreneurs as they build and scale technology-driven businesses—and the employees in the new, good jobs they create—to make and deliver new technology products and services.
Build to Scale (B2S) grants fund programs that support innovators, entrepreneurs, and startups transforming ideas into the critical, emerging technologies of the future.
The Build to Scale program aims to:
- build capacity for entrepreneurs and innovators to invent, improve, and bring to market new technology products and services;
- accelerate the growth of regional economies focused on industries of the future;
- empower communities to enable technology innovators and entrepreneurs to pilot and test their products and services; and
- equitably and inclusively increase access to capital for technology-enabled entrepreneurs.
FY24 Notice of Funding Opportunity
On Sept. 9, 2024, EDA launched the FY24 Notice of Funding Opportunity (NOFO) for the $50 million B2S program. EDA expects to make 40 to 50 awards, with expected award amounts spanning from the low hundreds of thousands of dollars up to $5 million. The deadline to apply is 4:59 p.m. Eastern Time on October 28, 2024.
Leaders identified AI, cloud computing, cybersecurity, advanced connectivity, and generative AI as the technologies they expect to enable the most growth for the industry this year. In fact, the surging popularity of AI seems to be driving a cycle of growth for the industry. Increased AI adoption necessitates investment in cloud, connectivity, and infrastructure modernization. As IT environments grow more complex and give rise to new potential attack vectors, cybersecurity spending increases concurrently.
Our team at Global Technology Education LLC is open for collaboration. Reach out with fresh innovative ideas via email, globaltechnologyeducation[at]gmail.com.
