This EDA investment funds the accelerating rural entrepreneurs in SE minnesota project, to fund the expansion of red wing ignite (RWI) start-up and entrepreneurship support program

Ended Project Grant Awarded

Award ID
ED22HDQ0240171
Recipient
Awarding agency
Obligated
$3,921,194

Award facts

Assistance listing
11.024 BUILD TO SCALE
Completion date
Funding
  • $1,960,592.42 Federal
  • $1,960,601.30 Non-federal
Place of performance
Minnesota, USA

Award details come from USAspending.gov.

Description

As the agency reported it.

Red wing ignite will focus on three main activities: prioritizing regional coordination and expanding access to startup programs for rural and diverse founders; launching an accelerator to expedite growth of scalable tech startups; and building a robust and diverse network of supporters. The goal of this program is to advance the trajectory of more than 400 entrepreneurs, of which 25% will be from the targeted demographic groups over the grant term. While programs and services will be open to any entrepreneurs interested in developing ideas into a business, targeted outreach will be made to black, indigenous and people of color (BIPOC) communities, including tribal members affiliated with the prairie island indian community and students enrolled in the eight higher education institutions in the region.

Quick answers

Who received award ED22HDQ0240171?

ED22HDQ0240171 was awarded to Red Wing Ignite by Economic Development Administration (Department of Commerce) on September 21, 2022.

How much is award ED22HDQ0240171 worth?

$3,921,194 has been obligated on ED22HDQ0240171: $1,960,592 in federal funding and $1,960,601 in non-federal funding.

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