Project Grant ED20HDQ0200049

The New Orleans Business Alliance (NOLABA) will receive $800,000 through September 2024 under a Project Grant from the Department of Commerce Economic Development Administration's BUILD TO SCALE federal grant program. NOLABA will establish the OurNOLA Fund, a $10 million equity-based investment fund to democratize investment access for millennials, Black, Indigenous, and people of color. The Fund will appeal nationally to non-accredited investors to invest minimum amounts of $500 each,...

The Economic Development Administration awarded a $2.17 million Project Grant to Vilcap, Inc. to develop lasting investment infrastructure for technology startups led by founders of color in the Southeast region of the United States. Under the Resource Invests initiative funded through the agency's BUILD TO SCALE program (CFDA #11.024), Vilcap will work with the Black Innovation Alliance from November 2022 to April 2024 to launch infrastructure and a replicable model to improve...

The Department of Commerce Economic Development Administration awarded a $450,000 project grant to the Birmingham Business Alliance Foundation on May 20, 2021 under the Economic Adjustment Assistance (EAA) program. The grant will fund market intelligence studies in Birmingham, AL to support the city's economic development efforts. The EAA program provides technical and planning assistance to regions facing adverse economic changes, and this award will help Birmingham assess business and industry...

The Alabama Department of Economic and Community Affairs (ADECA) was awarded a $1 million Project Grant from the Department of Commerce Economic Development Administration (EDA) under the Economic Adjustment Assistance (EAA) program. The EAA program provides technical, planning, and infrastructure assistance to address adverse economic changes. With this November 1, 2021 award, ADECA will use the funding to develop a comprehensive statewide plan through May 1, 2024 to strengthen Alabama's...

The Department of Commerce Economic Development Administration (EDA) awarded a $1.5 million Project Grant to Innovate Mississippi under the BUILD TO SCALE federal grant program (CFDA 11.024) to develop the statewide ecosystem through the COBuilders Accelerator Project. The grant will fund a coordinated virtual accelerator unlocking resources like mentors, service providers, and investment capital across underrepresented regions in Mississippi. Over a 24-month period starting November 1, 2022,...

This $1.2 million project grant from the Department of Commerce Economic Development Administration's BUILD TO SCALE program will fund the Charlotte Community Capital Access Investment Initiative. Over three years, the University of North Carolina at Charlotte will engage multiple university and community resources to identify new local capital sources, educate underrepresented potential angel investors, and ensure 120 emerging entrepreneurs are fully prepared for investment. Specifically, the...

The Auburn University was awarded a $1.3 million project grant from the Department of Commerce Economic Development Administration under the BUILD TO SCALE federal grant program (CFDA 11.024). The three-year grant will fund Auburn University's expansion of its new venture accelerator programming to the Auburn-Opelika metropolitan statistical area. Key services include virtual entrepreneurship curriculum delivery through a flipped-classroom cohort model, one-on-one counseling for aspiring...

The South Carolina State-Wide Investment Accelerator Project will receive $2.1 million from the Department of Commerce Economic Development Administration under the BUILD TO SCALE federal grant program (CFDA 11.024) from November 2022 through October 2025. The funding will support organizing, launching and operating a statewide investment accelerator program with stakeholders to identify an accelerator contractor, recruit and deliver programming twice annually for early-stage startup cohorts,...

The Appalachian Regional Commission (ARC) awarded a $642,910 Project Grant under the Appalachian Area Development program (CFDA 23.002) to Opportunity Alabama Inc., a non-profit organization focused on community revitalization, historic preservation, and economic development initiatives in Alabama. The funding supports Opportunity Alabama's efforts to drive impactful development by connecting projects, investors, and communities, with a particular emphasis on revitalizing historic areas and...

The Department of Commerce Economic Development Administration awarded $750,000 to the Business Council of Alabama Inc. under the Economic Adjustment Assistance (EAA) program on April 29, 2021. The EAA program provides technical, planning, and infrastructure assistance to regions experiencing adverse economic changes. For this Project Grant, the Business Council of Alabama will use the $750,000 to deliver services that support Alabama's economic recovery and adjustment efforts in response to...