This EDA investment funds the mississippi rural angel funds (MRAF) project, to create two regional angel funds increasing new equity-based investment in rural and underserved regions in mississippi
Ended Project Grant Awarded Last action
- Award ID
- ED22HDQ0240134
- Recipient
-
Innovate Mississippi UEI ML3GL7H3BVY6
- Awarding agency
-
Economic Development Administration
Department of Commerce
- Obligated
- $1,054,468
Award facts
- Assistance listing
- 11.024 BUILD TO SCALE
- Completion date
- Funding
-
- $527,234.00 Federal
- $527,234.00 Non-federal
- Place of performance
- Mississippi, USA
Award details come from USAspending.gov.
About this award
The Department of Commerce Economic Development Administration (EDA) awarded a $1,054,468 Project Grant to Innovate Mississippi under the BUILD TO SCALE federal grant program (CFDA #11.024) to establish two regional angel funds in rural Mississippi. Specifically, the grant will fund the Mississippi Rural Angel Funds project to create the North Delta/Oxford Angel Fund and the Mississippi River Region Angel Fund. These two angel funds will invest in 20 early-stage Mississippi startups over three years by targeting 80 investors. The project aims to address gaps in early-stage capital available to high-growth startups and entrepreneurs in underserved rural regions of Mississippi once implemented. By November 2025, this EDA grant aims to increase new equity-based investment in rural areas through the two regional angel funds.
Description
The project includes the creation of the north delta/oxford angel fund and the mississippi river region angel fund targeting 80 investors, investing in 20 mississippi early-stage startups over 3 years. Once implemented, the project will help address the GAP in early-stage capital available to high-growth startups and would-be entrepreneurs in rural mississippi.
Transactions
| Action | Federal | Non-federal | Date |
|---|---|---|---|
| Amendment | $263,617 | $263,617 | |
| Original award | $263,617 | $263,617 |
Quick answers
Who received award ED22HDQ0240134?
ED22HDQ0240134 was awarded to Innovate Mississippi by Economic Development Administration (Department of Commerce) on November 1, 2022.
How much is award ED22HDQ0240134 worth?
$1,054,468 has been obligated on ED22HDQ0240134: $527,234 in federal funding and $527,234 in non-federal funding.
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