The mbda capital readiness program (program) is designed to help close the entrepreneurship GAP between socially and economically disadvantaged individuals (sedi) and non-sedi

Ended Cooperative Agreement Awarded Last action

Award ID
MB23OBD0340330
Recipient
Awarding agency
Obligated
$5,686,940

Award facts

Assistance listing
11.034 MBDA Capital Readiness Program
Completion date
Funding
  • $4,945,166.00 Federal
  • $741,774.00 Non-federal
Funding agency
Minority Business Development Agency Department of Commerce
Place of performance
Mobile, AL 36602, USA

Award details come from USAspending.gov.

Description

As the agency reported it.

The recipients are were selected to: (1) help sedi entrepreneurs build capacity; (2) attract and provide access to capital opportunities; and (3) attract and provide access to networks. The proposed activities may resemble the service models of incubators (focusing on early-stage technical assistance for new entrepreneurs) or accelerators (providing emerging-stage technical assistance to businesses ready to expand or scale), or provide a combination of both service models.

Transactions

Action Federal Non-federal Date
Amendment $0 $0
Amendment $0 $0
Amendment $0 $0
Amendment $0 $0
Amendment $0 $0
Amendment $0 $0
Amendment $0 $0
Amendment $2,472,583 $370,887
Original award $2,472,583 $370,887

Subawards

Subrecipient Amount Awarded
Innovation Portal Inc. Innovation Portal will provide the personnel, facilities, and resources needed to plan and execute the following programs and services: Money Fest, Portal… $712,307
University Of South Alabama USA will provide the personnel, facilities, and resources needed to plan and execute 1 Minority Business Development (MBD) and 1 Minority Business Development… $280,568

Quick answers

Who received award MB23OBD0340330?

MB23OBD0340330 was awarded to Mobile Area Chamber Of Commerce Foundation, Inc. by National Oceanic and Atmospheric Administration (Department of Commerce) on September 1, 2023.

How much is award MB23OBD0340330 worth?

$5,686,940 has been obligated on MB23OBD0340330: $4,945,166 in federal funding and $741,774 in non-federal funding.

Which agency awarded MB23OBD0340330?

National Oceanic and Atmospheric Administration (Department of Commerce) awarded MB23OBD0340330, with funding from Minority Business Development Agency (Department of Commerce).

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