FY24 congressional community project funding innovate mississippi

The U.S. Small Business Administration (SBA) awarded a $944,000 Project Grant under the Congressional Grants program (CFDA 59.059) to Innovate Mississippi, a non-profit organization and community development corporation, to support small business development and entrepreneurship initiatives in Mississippi. This 2-year grant, awarded on August 1, 2024, will enable Innovate Mississippi to provide comprehensive entrepreneurship support services, including technical assistance, mentoring, networking opportunities, and access to capital for early-stage startups, with a particular focus on underserved and minority-owned businesses in rural regions of the state. The grant funding is expected to help accelerate at least 20 early-stage startups, establish two regional angel funds targeting 80 investors, and support technology-based small businesses in competing for SBIR and STTR programs, thereby fostering economic growth in underserved Mississippi regions.