MBDA-OBD-2021-2006868 NOFO - MBE Equity Multiplier ProjectReport.pdf

MBE Equity Multiplier Project

TABLE OF CONTENTS

I. Funding Opportunity Description 3

A. Program Objective 3 B. Program Priorities 3 C. Program Authority 7

II. Award Information 7 A. Funding Availability 7 B. Project/Award Period 7 C. Type of Funding Instrument 7

III. Eligibility Information 8 A. Eligible Applicants 8 B. Cost Sharing or Matching Requirement 8 C. Other Criteria that Affect Eligibility 8

IV. Application and Submission Information 8 A. Address to Request Application Package 8 B. Content and Form of Application 8 C. Unique Entity Identifier and System for Award Management (SAM) 13 D. Submission Dates and Times 13 E. Intergovernmental Review 14 F. Funding Restrictions 14 G. Other Submission Requirements 14

V. Application Review Information 17 A. Evaluation Criteria 17 B. Review and Selection Process 20 C. Selection Factors 21 D. Anticipated Announcement and Award Dates 22

VI. Award Administration Information 22 A. Award Notices 22 B. Administrative and National Policy Requirements 22 C. Reporting 23

VII. Agency Contacts 24 VIII. Other Information 24

Notice of Federal Funding Page 1 of 37

NOTICE OF FUNDING OPPORTUNITY

EXECUTIVE SUMMARY

Federal Agency Name(s): Minority Business Development Agency (MBDA), Minority Business Development Agency (MBDA), Department of Commerce

Funding Opportunity Title: MBE Equity Multiplier Project

Announcement Type: Initial

Funding Opportunity Number: MBDA-OBD-2021-2006868

Catalog of Federal Domestic Assistance (CFDA) Number: 11.802, Minority Business Resource Development

Dates: Complete applications will be accepted in Grants.gov up to 11:59 p.m. Eastern Standard Time on June 30, 2021. Applications received after this time will not be reviewed or considered for funding under this Announcement.

Funding Opportunity Description: This notice requests applications for programs aligned with the Minority Business Development Agency’s (MBDA) strategic plans and mission goals to service minority business enterprises (MBEs). This notice also provides the public with information and guidelines on how MBDA will select proposals and administer discretionary Federal assistance under this Broad Agency Announcement (BAA).

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FULL ANNOUNCEMENT TEXT

I. Funding Opportunity Description

A. Program Objective

The Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, will provide Federal assistance to support innovative projects seeking to promote and ensure the growth of minority enterprises. The MBDA Minority Business Enterprise (MBE) Equity Multiplier Project will facilitate technical assistance to MBEs related to accessing capital. In accordance with Executive Order 11625 and 15 U.S.C. § 1512, MBDA is soliciting competitive applications from eligible organizations for the operation of MBDA MBE Equity Multiplier Projects as described in this Broad Agency Announcement (BAA). MBDA anticipates awarding approximately one (1) individual cooperative agreement pursuant to this BAA.

The Minority Business Development Agency (MBDA) provides Federal assistance in support of innovative projects that promote and seek to resolve the challenges faced by minority enterprises. The funds to be awarded by this program are not congressionally directed funds or designated for existing funded awards. In the Fiscal Year 2021 appropriations bill, Congress authorized MBDA to foster, promote, and develop minority business enterprise, through grants, contracts, and other agreements with public or private organizations. See Consolidated Appropriations Act of 2021, Pub. L. No. 116-260 (December 27, 2020). MBDA is authorized pursuant to Executive Order 11625 to provide financial assistance to public and private organizations so that they may render technical and management assistance to minority business enterprises and defray all or part of the costs of pilot or demonstration projects conducted by public or private agencies or organizations that are designed to overcome the special challenges of minority business enterprises.

B. Program Priorities

MBDA leads Federal Government efforts to promote the growth and global competitiveness of MBEs. MBDA has established key priorities designed to overcome the unique challenges faced by MBEs. The primary drivers of this project are (i) capacity building and venture capital readiness, (ii) increasing access to equity and venture investment and investors, (iii) technical business services; and (iv) job creation. The MBE Equity Multiplier Project aims to create a more diverse economy and drive economic prosperity for founders of color. This program supports competitive proposals that seek to support entrepreneurship and accelerate MBE growth nationally via technical assistance for

Notice of Federal Funding Page 3 of 37 equity investment. Competitive proposals will outline how the project will strengthen economic competitiveness through increasing the flow of equity capital to minority communities and leverage the strengths of partnerships to help create new enterprises, commercialize technology, and create jobs.

This program is intended to provide direct technical assistance to MBEs that receive or are seeking equity investment or a hybrid model of investment; applicants to this BAA will provide technical assistance to MBEs, including, for example: evaluation of companies with high growth as a central factor of their investment strategy; technical business services and investor engagement activities; Form D filings; investment materials, such as CIM (Confidential Information Memorandums), pitch decks, financial models, company profiles, financial related legal support, financial/equity agreements, term sheets and closing documents, due diligence, market analyses, valuations; customer acquisitions; business acquisitions; merger assistance; technology and location identification; e-commerce; and other investor readiness tools. This program leverages community resources and investment and maximizes opportunities for the development of emerging, high growth minority entrepreneurs in a myriad of industries.

Note: Project must be located in the U.S. or any U.S. territory, including Guam, Puerto Rico, and the Virgin Islands. MBDA is not authorized to provide awards to individuals under this BAA, and applications from individuals will not be considered under this request. Award funds cannot be used to make investments in individual businesses.

MBDA anticipates making one (1) award under this announcement, with a federal funding amount of approximately $300,000.

1. Agency Requirements for the Project

a) Alignment to MBDA Mission – Each proposed project should align with, compliment, and support MBDA’s mission to promote the growth and global competitiveness of America’s MBE community.

b) Service Location - MBDA seeks to fund projects located in the defined locations;

however, a Project may serve U.S. minority business enterprises located in any U.S. state or territory.

c) Services – Funded projects must align with the MBDA program objectives and priorities (I.A. and I.B. above). The projects must provide technical business services (technical assistance) as described in the “Program Priorities” section to MBE clients that support capacity building.

d) Performance – Funded projects shall be monitored on a regular basis to track progress.

The defined measures and goals are aligned to key outputs, outcomes, and impact under this

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e) MBE Service Recipients - Organizations that are owned or controlled by the following persons or groups of persons are considered MBEs for the purpose of this BAA: African- American, Hispanic-American, Asian American and Pacific Islander, Native American (including Alaska Natives, Alaska Native Corporations and Tribal entities), Asian Indian American, and Hasidic Jewish American. See 15 C.F.R. §§ 1400.1, 1400.2 and Executive Order 11625 (1969).

2. Performance Measures and Goals – In order to remain consistent with the Agency’s mission, applications should allow for the measurement of the growth of MBEs, especially as it relates to equity growth. Applicants should plan projects that allow them to set measures and goals in the areas noted below, in addition to any others, and then to report their performance based on the goals and measures set. These goals shall determine performance achievement and outcomes that result in direct benefit(s) to the clients served and alignment to the program priorities.

• Number of MBE entrepreneurs/startups participating in program.

• Number of business concepts reviewed.

• Number of outreach events (includes pitch competitions, virtual workshops, boot camps, entrepreneurial education training, meet ups, networking, demo days, etc.)

• Dollar Amount of verified investment capital raised and/or received;

• Dollar Amount of verified capital raised through grants (state, local or SBIR/STTR) or Loans (including minority banks), Corporate Entities or Private Foundations;

• Comparison of annual business revenue growth before and after investment (percentages);

• Number of meetings conducted with MBEs;

• Number of investor meetings (high-revenue clients or SBIR/STTR grant program managers, foundations, family offices, angel investors);

• Number of completed SBIR/STTR award applications;

• Number of business mergers and/or acquisitions; and

• Number of jobs created and retained.

Definitions of Measures:

Dollar Amount of verified equity capital raised and received - Dollar amount of equity committed to or secured for an MBE or by an MBE with the applicant’s assistance.

Dollar Amount of verified capital raised through loans, grants (state, local or SBIR/STTR) or Loans (including minority banks), Corporate Entities or Private Foundations - Dollar amount of loans or grants committed to or secured for an MBE or by an MBE as a result of the

Notice of Federal Funding Page 5 of 37 engagement in the MBE Equity Multiplier program.

Comparison of annual business revenue growth before and after investment (for annual tracking A data point or data set showing the amount of annual business sales for an MBE participating in the MBE Equity Multiplier Program at the onset in comparison to the annual business sales for the MBE at the end of the project and after investment.

Number of meetings conducted with MBEs - Number of meetings provided to each MBE program participant where direct technical business support is provided by the program or partners, including mentoring and coaching sessions

Number of investor meetings - The number of events or engagements with potential investors on behalf of or with MBEs and high-revenue clients or SBIR/STTR grant program managers, foundations, family offices, or angel investors.

Number of completed SBIR/STTR applications – Number of applications completed on behalf of MBEs and/or number of applications where MBE Equity Multiplier program provided substantial assistance in completing the SBIR/STTR applications.

Number of Business Mergers or Acquisitions- Number of MBEs assisted with mergers or with acquisitions of another company during the performance period.

Number of jobs created – Number of new full time and/or part time employment opportunities reported on the MBE client’s payroll during the funding year. Persons on paid sick leave, paid holiday, and paid vacations are included as employees, as are salaried officers and executives of corporations. However, proprietors and partners of unincorporated businesses are not considered employees under this definition.

Number of jobs retained –Number of existing full time and/or part time employment positions retained and reported on the MBE client’s payroll during the funding year. Job retention pertains to maintaining the status quo of persons employed by the client in lieu of subjective and objective decisions made by the client to reduce its workforce due to economic conditions, lack of capital, failure to secure necessary contracts and/or sales (documentation will be needed to show that the client did not reduce the workforce as a result of the Project operations). Note, persons on paid sick leave, paid holiday, and paid vacations are included as employees, as are salaried officers and executives of corporations.

However, proprietors and partners of unincorporated businesses are not considered employees under this definition.

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Note: The applicant should be able to track their metrics in a technologically readable format. Applicant should include a description of their CRM systems. If one does not exist, applicant should include any purchases of such systems in narrative and budget.

C. Program Authority

In the Fiscal Year 2021 appropriations bill, Congress authorized the Department of Commerce through MBDA to provide funding to foster, promote and develop minority business enterprises through grants, contracts, and other agreements with public or private organizations. See Consolidated Appropriations Act of 2021, Pub. L. No. 116-260 (December 27, 2020). MBDA is authorized pursuant to Executive Order 11625 to provide financial assistance to public and private organizations so that they may render technical and management assistance to minority business enterprises and defray all or part of the costs of pilot or demonstration projects conducted by public or private agencies or organizations which are designed to overcome the special challenges of minority business enterprises.

II. Award Information

A. Funding Availability

MBDA expects to expend approximately $300,000 in fiscal year (FY) 2021 funds for one (1) financial assistance award under this BAA. MBDA anticipates that up to $300,000 will be available in FY 2022 to support continuation funding for this project. The funding amounts referenced in this NOFO are subject to the availability of appropriated funds.

Publication of this BAA does not obligate the U.S. Department of Commerce or MBDA to award any specific cooperative agreement or to obligate all or any part of available funds.

B. Project/Award Period

MBDA will issue an award for a two-year term, to be funded one year at a time, from September 1, 2021 through August 31, 2023. Funding for the second year is contingent upon satisfactory performance in the prior year (Year 1) based on proposed goals and maintenance of program priorities. Receipt of funding also is contingent upon the availability of funds from Congress, satisfactory performance, and continued relevance to program objectives and will be at the sole discretion of the Department of Commerce.

C. Type of Funding Instrument

Selected applicant(s) will receive funding through a cooperative agreement under this Announcement. After the award is made, MBDA staff may assist the project by means of a post-award conference, ongoing collaboration, and communication.

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III. Eligibility Information

A. Eligible Applicants

Eligible applicants include: For-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, commercial organizations, state and local government entities, Tribal governmental entities, and quasi-government entities.

B. Cost Sharing or Matching Requirement

Applicants have a 33% cost share requirement. Applicants must demonstrate at the time of application, a matching share of 33% of the total project. Funds from other financial assistance awards may be used only if allowed by statute. Applicants must submit a commitment letter from any organization providing matching funds. In-kind contributions may be used but must contribute directly to the project (such as equipment or space). A provider of matching share may not serve as a contractor under the award for which it provides a matching share. The entity providing a matching share may not be paid by the award recipient with award funds. The matching share cannot be provided as an investment into MBEs.

C. Other Criteria that Affect Eligibility

None.

IV. Application and Submission Information

A. Address to Request Application Package

All application materials and forms are available at the grants.gov website (http://www.grants.gov). Helpful competition materials such as FAQs can be found on the MBDA Internet Portal (www.mbda.gov).

B. Content and Form of Application

General Requirements: The applicant must provide sufficient information for the agency to make a determination of merit of the proposal. Each applicant’s proposal must describe in detail the programmatic deliverables that address “Agency Requirements for the Project” (See Section I.B.1 above) as well as meet content requirements below.

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1. Content Requirements

a) A Complete Application - An application must be submitted for each proposal under this Announcement. Applications should include the elements for each section as described below in order to be eligible for maximum consideration. Applications that fail to include all the necessary elements will not be reviewed or considered and may be disqualified (see Section V. Application Review Information). A complete application should contain the following:

(1) Title Page (One (1) page limit) At a minimum, the application title page must provide the applicant’s name, address, telephone number, email address, date of submission, and the Funding Opportunity Number.

Applicants are also encouraged to provide the following additional information: project’s title, total budget, start and end dates, and the names, affiliations, complete mailing addresses, email addresses, and telephone numbers of all persons affiliated with the proposal.

(2) Table of Contents (One (1) page limit) Under the Table of Contents, applicants should outline the full contents of the application and provide corresponding page numbers. All pages of the application must be consecutively numbered.

(3) Applicant Narrative (Ten (10) page limit) A detailed narrative with defined sections as described below.

a) Project Description: The applicant should fully describe and explain the project being proposed, including:

(1) A detailed description of the services that will be provided to MBEs and how those are aligned with MBDA’s objectives and priorities (IA, IB).

(2) The narrative should provide a compelling justification for the project, articulate a clearly defined gap, and include how the proposed project will uniquely meet the need and the expected outcome(s) that will result from the proposed project.

(3) An implementation timeline is required to cover the entire period of performance.

This will be used to accomplish the project objectives and work requirements. Describe any factors that will contribute to leveraging available resources and improving landscape for founders of color receiving equity.

(4) The narrative should provide a detailed description of the project and should include how the proposed project will uniquely meet current or prospective needs and the expected outcome(s) that will result from the proposed project. The applicant’s description should explain an achievable solution and partnerships (if any) to include roles and responsibilities.

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A description of the target participants served, and the communities or region’s assets and opportunities should be included. The applicant should describe if the project has been previously piloted and demonstrate the achievability of the proposed solution.

(5) Identification and description of key stakeholders and partners that will be leveraged to accomplish the business development objectives. If the Applicant proposes to leverage third-party partnerships and their respective resources to accomplish the proposed project under this Announcement, the Applicant will need to provide proof of commitment by the third party as an attached document in the proposal.

(6) Specific marketing/engagement strategies to reach large quantities of MBEs, recruit MBE clients, and expand visibility of the services offered by the Applicant and MBDA. The applicant should provide an estimate of how many minority businesses will be impacted directly or indirectly.

b) Applicant Capability: The applicant must present information describing their experience and qualifications to carry out the proposal. The application should include the following information:

(1) Organization/Company Profile: A concise summary of the Applicant’s organization, its mission and programs, current and past experience with similar projects or services as those proposed, a list of previous or current projects or services relevant to the proposal. The applicant should state the role they currently or will play in the ecosystem of equity investment.

(2) Organizational Background. An overview that emphasizes the applicant’s knowledge of strategies in venture investing and capital raising as well how/why they are best positioned to support a new innovative ecosystem inclusive of MBEs.

(3) Organizational Structure. A chart showing the Applicant’s organizational structure and operational processes and procedures, including a functional statement noting the duties and/or responsibilities of all units of the organization during the period for which the proposal applies. Applicants also must provide a brief discussion outlining the reporting structure and/or governance of the Project and the financial operation of the organization.

(4) Biographies or Resumes for Major Participant(s). The Applicant should provide a one-page bio or resume showing relevant experience of the Applicant’s key leader(s), for example: President/CEO to oversee the success of the proposed project, Project Director to implement core activities of the product, Pitch Coach to manage and train MBEs on investor

Notice of Federal Funding Page 10 of 37 pitching.

(5) Proof of Capability. Applicants also are encouraged to provide proof of capability such as, but not limited to, public records of accomplishments, public citations, and/or letters of referrals/recommendations as attachments in the proposal.

c) Project Goals and Objectives: The applicant must provide a detailed list of project components and a statement of objectives for each component. This statement must include:

1) Clear objectives and specific approaches to achieving its project description and those objectives;.

(2) An implementation schedule that specifically outlines the coordination of all project components, organizational activities, timelines, relevant measures with expected outputs, projected outcomes and impact; and.

(3) Annual and quarterly goals.

(4) Supporting Documents Literature Cited (if applicable). The applicant may provide additional information that supports the proposed project. If submitted, literature cited in the proposal may support scoring under the Applicant Narrative – Project Description criterion as noted above.

(5) Standard Forms (SF) and Budget Narrative for 2 years The applicant must provide the required SF, attachments, and budget information as described in the section below.

(a) Standard Application Forms. Please refer to the application package available through www.Grants.gov. Please review each form to determine which is required with a submission.

Each applicant may not be required to submit all forms listed, depending on the project type or the applicant type.

(i) Signed SF-424. The SF-424 must be signed by the authorized representative.

Electronic signatures submitted through grants.gov satisfy this requirement. One form will cover all funding periods.

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(ii) SF-424A. Budget Information-Non-Construction Programs.

(iii) SF-424B. Assurances for Non-Construction Programs. Budget Narrative Must be completed and submitted for all non-construction applications.

(iv) SF-LLL Disclosure of Lobbying Activities.

(v) Commerce Department (CD)-511. Certification Regarding Lobbying. Certification regarding debarment, suspension, and other responsibility matters, drug free workplace requirements, and lobbying.

(b) Budget Breakdown. The applicant must submit the SF-424 (application package) and initial breakout via the SF-424A form (SF-424A non-construction, as appropriate). The applicant must indicate matching funds if provided in the appropriate areas of the SF-424 and SF424A. Costs must align.

(c) Budget Narrative. The applicant must provide a detailed justification for all budget items in sufficient detail to enable the proposal reviewers to evaluate the appropriateness of the funding requested (e.g. staffing, infrastructure, work activities, materials and supplies, equipment, etc.). The budget justification must be broken-out and detailed using the same budget categories as the SF-424A. All costs must align.

(d) Required Travel Item(s). Each applicant should include travel costs for (2) key personnel to attend the events included below.

(i) Minority Enterprise Development Week (travel for Year 2 only, as event will be held virtually in Year 1)

(ii) National Training Conference (travel for Years 1 and 2)

All of the applicant’s proposed expenditures for the project must be broken-down into their individual units and discussed. The budget narrative must match the proposed line item budget (as found in the SF-424A). The budget narrative must also align with work activities, goals, staffing, and other proposed resources. Fringe benefits and other percentage item calculations must match the SF-424A for the proposal

The Office of Management and Budget (OMB) Uniform Guidance will be used to determine allowable costs and will apply to the entire amount of the award, including both the federal and non-federal costs. See Uniform Guidance: Administrative Requirements, Cost

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Principles, and Audit Requirements for Federal Awards (Uniform Guidance), 2 CFR Part 200 (2020).

Please refer to section VIII. “Other Information” of this Announcement for additional information pertaining to required travel.

(6) Format Requirements All pages should be single-spaced and should be composed in at least 11-point font with one-inch margins on 8-1/2-inch x 11-inch paper. The total proposal shall not exceed 20 pages, including the title page, table of contents, applicant narrative, literature cited, budget narrative, letters of support or letters of commitment (if any), and organizational structure.

The following items are not included in the 20-page limit: resumes/bios of key personnel and required forms. Failure to follow the requirements may result in the rejection of the application. Any PDF or other attachments that are included in an electronic application must meet the above format requirement when printed.

C. Unique Entity Identifier and System for Award Management (SAM)

Each applicant (unless the applicant is eligible for an exemption under 2 CFR § 25.110(b) or (c), or an exception approved under 2 CFR § 25.110(d)) is required to:

during which it has an active Federal award or an application or plan under consideration by MBDA (or any other Federal agency).

MBDA may not make a Federal award to an applicant until the applicant has complied with all applicable unique entity identifier and SAM requirements. If an applicant has not fully complied with the requirements by the time MBDA is ready to make the award, MBDA may determine that the applicant is not qualified to receive a Federal award and use that determination as a basis for making an award to another applicant.

D. Submission Dates and Times

All proposals must be received on or before June 30, 2021 at 11:59:59 pm Eastern Standard Time (E.S.T). Applications may be submitted starting from the publication date of this BAA up to the deadline above. Applications received after this time will not be reviewed or considered for funding. Applications must be submitted electronically via www.grants.gov. The electronic submission will receive a date and time stamp at www.grants.gov and will be processed after it is fully uploaded. Applicants should anticipate receiving confirmation of successful submission within forty-eight (48) hours. It is

Notice of Federal Funding Page 13 of 37 imperative that applicants obtain this confirmation as proof of successful submission.

Waiting to submit an application until the end of the competition period puts an application at risk; be sure to allow ample time.

E. Intergovernmental Review

Applications under this project are not subject to Executive Order 12372, Intergovernmental Review of Federal Programs.

F. Funding Restrictions

Applicants requesting an indirect cost rate (IDC) are required to submit a copy of their current and signed indirect cost rate agreement with the application package.

If an applicant does not have a current Facilities and Administrative (Indirect) Cost Rate Agreement that was negotiated and approved by the Department of Commerce (or by the applicable cognizant Federal agency), please provide a statement to this effect. The applicant must prepare and submit a cost allocation plan and rate proposal or a negotiated indirect cost rate as required by 2 CFR Part 200 “Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards.” See 2 CFR § 200.414. The allocation plan and the rate proposal must be submitted to MBDA (or applicable cognizant Federal agency) within ninety (90) days from the award start date.

Alternatively, in accordance with 2 CFR § 200.414(f), a non-Federal entity that does not have a current negotiated indirect cost rate may elect to charge a de minimis rate of 10 percent of modified total direct costs. Applicants proposing a 10 percent de minimis rate pursuant to 2 C.F.R. § 200.414(f) should note this election as part of the budget and budget narrative portion of the application.

Indirect costs proposed under the award must be clearly identified as a separate budget line item.

G. Other Submission Requirements

The time it takes to completely upload an application will vary depending on a number of factors, including the size of the application, the speed of the applicant’s Internet connection, and the time it takes www.grants.gov to process the application. If www.grants.gov rejects the application, the applicant must resubmit the entire application and receive a date and time stamp from www.grants.gov. The www.grants.gov time stamp will be considered the date and time of submission receipt. Before beginning to apply through www.grants.gov, please review the application instructions posted at

Notice of Federal Funding Page 14 of 37 www.grants.gov and in this BAA.

1. Grants.gov Registration - To submit an application through www.grants.gov, you must register for a user ID and password. This process can take between three to five business days and up to four weeks if all steps are not completed correctly. Information about the registration process can be found at http://www.grants.gov/applicants/get_registered.jsp.

Before applying, your organization needs to register with Grants.gov, which requires appointing one or more Authorized Organization Representatives (AOR). Applicants should register as organizations, not individuals. You must register an Authorized Organizational Representative (AOR) for your organization. The AORs registered at www.grants.gov are the only officials with the authority to submit applications for your organization. Your organization may authorize multiple AORs for www.grants.gov purposes. Below are instructions for registering as an organization.

2. Electronic Submission - The electronic submission date is the date that applications have been submitted electronically and received by www.Grants.gov. Proof of timely submission shall be the official date and time that www.Grants.gov receives your application. You must save and print the proof of submission from/on www.Grants.gov. If problems occur while using www.Grants.gov, the applicant is advised to (i) print any error message received and (ii) call www.Grants.gov at 1-800-518-4726 for immediate assistance.

If you experience a grants.gov “systems issue” (technical problems or glitches with the grants.gov website) that you believe threatens your ability to complete a submission, you must (i) print any error message received and (ii) call the Grants.gov Contact Project at 1- 800-518-4726 for immediate assistance. Ensure that you obtain and document a case number regarding your communications with grants.gov.

Important note: problems with an applicant organization’s computer system or equipment are not considered “systems issues.” Similarly, an applicant’s failure to: (i) complete the required registration, (ii) ensure that a registered AOR submits the application, or (iii) receive an email message from grants.gov are not considered systems issues. A grants.gov “systems issue” is an issue occurring in connection with the operations of grants.gov system, such as the temporary loss of the service by grants.gov due to unexpected volume of traffic or failure of information technology systems, both of which are highly unlikely.

Confirmation of successful submission requires 48 hours. Applicants are advised to review the Grants.gov tutorial to minimize risk of an unsuccessful submission. Please visit http://www.grants.gov/web/grants/applicants/applicant-tools-and-tips.html.

3. Returning Grants.Gov Users - Organizations already registered with Grants.gov do not

Notice of Federal Funding Page 15 of 37 need to re-register, but the organization must maintain a current System for Award Management (SAM) registration (formerly Central Contractor Registration (CCR)). If the applicant’s SAM registration is not up-to-date the application will not be accepted by Grants.gov. An applicant’s CCR username will not work in SAM. Applicants must create a new SAM user account to renew or update registration. To obtain additional information and to verify that all required registrations are current, please visit www.sam.gov/portal/public/SAM. SAM is the official U.S. Government system that consolidated the capabilities of CCR Federal Agency Registration (FedReg), Online Representations and Certifications Application (ORCA), and Excluded Parties List System

(EPLS).

Potential applicants should begin registration early, as the complete registration process takes between three business days and three weeks. Before applying for a funding opportunity, your organization needs to register with grants.gov and assign one or more Authorized Organization Representatives (AOR). We recognize registration activities take extra time; however, this is part of the security process the U.S. Government must use to prevent fraud and abuse of funds. The Grants.gov application process is outlined below.

Obtain a DUNS Number. Call 1-866-705-5711 or access the Dun & Bradstreet website http://fedgov.dnb.com/webform (1-2 business days).

Register with SAM. Access https://www.sam.gov. You'll also need the authorizing official of your organization and an Employer Identification Number (EIN) (7-10 business days).

Create Grants.gov Username and Password. Complete your Authorized Organization Representative (AOR) profile and create your username and password. You will need to use your organization's DUNS Number (same day).

Authorize the AOR. Request approval, then your organization's E-Biz POC must log in to Grants.gov to confirm you as an AOR (same day).

Track AOR Status. Log in to Grants.gov and look at the Applicant welcome box for your current status (same day).

Download an application package. Use Notice of Funding Opportunity Number MBDA- OBD-2021-2006868 and Download a Grant Application Package (same day).

Complete your application package. Write your proposal and fill out ALL the required forms, fields, and certifications (allow 3 days).

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Submit your application package. Access your completed application package, ensure all the necessary information is entered, check the package for errors, then click the "Save & Submit" button on the cover page (3 days).

Track my application package. Enter the tracking number you received after Step 8 and click the "Submit Tracking Number(s)" button. Note, confirmation of successful submission may require 48 hours (allow 2 days).

www.grants.gov.

V. Application Review Information

A. Evaluation Criteria

The successful applicant will possess experience that is relevant and related to the area(s) covered by MBDA’s Priorities (see section I.B.). Each application will be evaluated based on “Agency Requirements for the Project” (see section I.B.1), and the evaluation criteria included below. It is also anticipated (although not mandatory) that the mission of the successful applicant organization will align with the mission of MBDA. The successful applicant also will ensure alignment of budget, resources, objectives, outcomes or goals, and timelines to accomplish the proposed project.

1. Applicant Narrative (65 points) - This section of the project proposal will be evaluated on the criteria identified below.

a) Project Description (25 Points). The applicant should fully describe and explain the project being proposed, including:

(1) A detailed description of services that will be provided to MBEs and how those services are aligned with MBDA’s priorities (IA, IB). (6 points)

(2) The narrative should provide a compelling justification for the project, articulate a clearly defined gap, and include how the proposed project will uniquely meet the need and the expected outcome(s) that will result from the proposed project. (6 Points)

(3) An implementation timeline is required to cover the entire period of performance.

This will be used to accomplish the project objectives and work requirements. Describe any factors that will contribute to leveraging available resources and improving landscape for founders of color receiving equity. (3 Points)

(4) The narrative should provide a detailed description of the project and should include how the proposed project will uniquely meet current or prospective needs and the expected outcome(s) that will result from the proposed project. The applicant’s description should

Notice of Federal Funding Page 17 of 37 explain an achievable solution and partnerships (if any) to include roles and responsibilities.

A description of the target participants served, and the communities or region’s assets and opportunities should be included. The applicant should describe if the project has been previously piloted and demonstrate the achievability of the proposed solution. (4 Points)

(5) Identification and description of key stakeholders and partners that will be leveraged to accomplish the objectives (if applicable). If the Applicant proposes to leverage third-party partnerships and their respective resources to accomplish the proposed project under this BAA, the Applicant will need to provide proof of commitment by the third party as an attached document in the proposal. (3 Points)

(6) Specific marketing/engagement strategies to reach large quantities of MBEs, recruit MBE clients, and expand visibility of the services offered by the applicant and MBDA. The applicant should provide an estimate of how many minority businesses will be impacted directly or indirectly. (3 Points)

b) Applicant Capability (25 points). The applicant must present information describing the experience and qualifications of the organization to carry out the proposal. The application should include the following information.

(1) Organization/Company Profile: A concise summary of the Applicant’s organization, its mission and programs, past experience with similar projects or services as those proposed, a list of previous or current projects or services relevant to the proposal. The applicant should state the role they currently or will play in the ecosystem of equity investment. (6 points)

(2) Organizational Background. An overview that emphasizes the applicant’s knowledge of strategies in venture investing and capital raising as well how/why they are best positioned to support a new innovative ecosystem inclusive of MBEs.(6 Points)

(3) Organizational Structure. A chart showing the Applicant’s organizational structure and operational processes and procedures, including a functional statement noting the duties and/or responsibilities of all units of the organization during the period for which the proposal applies. Applicants must also provide a brief discussion outlining the reporting structure and/or governance of the Project and the financial operation of the organization. (5 Points)

(4) Biographies or Resumes for Major Participant(s). The Applicant should provide a one-page bio or resume showing relevant experience of the Applicant’s key leader(s), for example, President/CEO to oversee the success of the proposed project, Project Director to implement core activities of the product, Pitch Coach to manage and train MBEs on investor pitching.. (3 Points)

(5) Proof of Capability. Applicants also are encouraged to provide proof of capability such as, but not limited to, public records of accomplishments, public citations, and/or letters of referrals/recommendations as attachments in the proposal. (5 Points)

Notice of Federal Funding Page 18 of 37

c) Project Goals and Objectives (15 points). The applicant must provide a detailed list of project components and a statement of objectives for each component. This statement must include:

(1) Clear objectives and specific approaches to achieving its project description and those objectives; (5 Points)

(2) An implementation schedule that specifically outlines the coordination of all project components, and organizational activities, timelines, relevant measures with expected outputs, projected outcomes and impact; (5 Points)

(3) Annual and quarterly goals. (5 Points)

Evaluation Criteria Points Project Description (up to 25 points) Applicant Capability (up to 25 points) Project Goals and Objectives (up to 15 points) Applicant Narrative Total 65 points

2. Applicant Budget (35 points) - This section of the proposal will use the Standard Forms and Budget Narrative to evaluate the cost-effectiveness and appropriateness of the funding requested. Applicants should ensure each budget item is described fully so that there is no ambiguity or question regarding its relevance or reasonableness to the project and its objectives.

a) Budget Breakdown (15 points). The applicant must submit the SF-424 (application package) and initial breakout via the SF-424A form (SF-424A non-construction, as appropriate). The applicant must indicate matching funds if provided in the appropriate areas of the SF-424 and SF424A. Costs must align.

b) Budget Narrative (20 points) The applicant must provide a detailed justification for all budget items in sufficient detail to enable the proposal reviewers to evaluate the appropriateness of the funding requested (e.g. staffing, infrastructure, work activities, materials and supplies, equipment, etc.). The budget should itemize in-kind funds and federal share to include a staffing plan for positions, titles, percentage of time dedicated to the project, and annual salaries charged to the project funded by federal and non-federal shares.

The budget justification must be detailed using the same budget categories as the SF-424A.

All costs must align.

Please note: For Required Travel Item (s), each applicant should include travel costs for key personnel to attend the events listed below. In the event that the COVID-19 pandemic continues to cause limitations on travel and gatherings, these events will be virtual.

(1) Minority Enterprise Development Week Program (travel for Year 2 only, as event will

Notice of Federal Funding Page 19 of 37 be held virtually in Year 1)

(2) MBDA National Training Conference (travel for Years 1 and 2)

Evaluation Criteria Points Budget Breakdown (up to 15 points) Budget Narrative (up to 20 points) Applicant Budget Total 35 points

Total Available Application Points 100 points

All applications must adhere to the submission guidelines provided in this section and section IV.B.1.a), “A Complete Application.” Omissions will result in the deduction of points from the final score according to the table below up to and including disqualification of the entire application.

Mandatory Item: (Failure to Adhere Shall Result In) Title Page (5 Point Deduction) Table of Contents (5 Point Deduction) Applicant Narrative (Disqualification) Budget Narrative (Disqualification) Required Standard Forms (SF) and Attachments (Disqualification)

All project proposals will be evaluated and applicant(s) will be selected based on the level at which the proposal addresses the evaluation criteria above, less any points deducted for failure to include the mandatory items noted above.

B. Review and Selection Process

1. Initial Screening – Prior to the formal review process, each application will receive an initial administrative screening to ensure that all required forms, signatures, and documents are present. An application will not be evaluated by the review panel if:

a) The application is received after the closing date;

b) The application package is not complete;

c) The project synopsis/description fails to address program objectives (see Section I.B, “Program Priorities” and Section I.B.1, “Agency Requirements for the Project”);

d) The application falls within the scope of an existing MBDA competitive program or announcement for Federal Funding or duplicates a project previously awarded; or

e) The principal purpose of the activities in the application is to provide a direct benefit or service to MBDA and not to MBEs.

Notice of Federal Funding Page 20 of 37

2. MBDA Merit Review Panel - Each responsive application will receive an independent, merit review by a panel qualified to evaluate the applications submitted based on the published criteria. The review panel will consist of at least three (3) individuals, all of whom could be a combination of full-time federal employees and/or non-federal civilians at least one of whom will be an MBDA employee. Each reviewer shall evaluate and provide individual scores for each proposal based on the criteria set out in this Section (see Application Review Information, above) for a maximum of 100 points. The Applicant Narrative section of the application will be eligible for a total of 65 points, the Applicant Budget section will be eligible for 35 points. The review panel may discuss the application(s) but will not provide a consensus on scores for each applicant. Each application will be reviewed against the criteria individually (i.e., applications will not be compared to others).

The Chairperson of the merit review panel will be responsible for averaging reviewers’ scores, collating reviewer comments, and completing an evaluation. Applications that receive an overall average of 75 points or more will be considered for funding. Applications receiving an average score of 60 to 74 points will be given a second consideration for funding if the panel requests additional information or clarification and if the applicant is able to respond to the panel’s request for additional information/clarification within an allotted time. Thereafter, the merit review panel may rescore these applications.

Applications receiving fewer than 60 points will not be considered for funding.

C. Selection Factors

The applications receiving an initial average score of 75 points or higher or applications given a second consideration (as noted above) will be forwarded to the Program Manager for review and consideration of the merit panel evaluation and overall average score. Upon completion, the Program Manager will forward funding recommendations to the Selecting Official.

The MBDA National Director is the MBDA Selecting Official and makes the final recommendation to the Grants Officer regarding the funding of applications under this Announcement. The Selecting Official will recommend funding for applications evaluated as meritorious based on the final scores as prepared by the Merit Review Panel; however, the Selecting Official also may recommend an application for an award based on one or more of the following selection factors: the availability of funds, Presidential, Department of Commerce, or MBDA priorities; and and/or geographic region/area served by the Project.

Prior to making a final recommendation for funding to the Grants Officer, MBDA may

Notice of Federal Funding Page 21 of 37 conduct negotiations with an applicant regarding the elements of the application and/or may request that the applicant provide written clarifications regarding its application.

D. Anticipated Announcement and Award Dates

Anticipated time for processing awards is approximately ninety (90) days from the receipt of applications. MBDA anticipates that the awards under this NOFO will be made with start dates of September 1, 2021. Successful applicants may be eligible for pre-award costs.

VI. Award Administration Information

A. Award Notices

The notice of award (CD-450) is executed by the Department of Commerce Grants Officer and is the authorizing document. It is generally provided electronically via the Grants Online system to the Authorized Representative of the recipient organization. The Authorized Representative for a successful applicant will receive instructions from MBDA on how to access the Grants Online system to accept the award.

Anticipated time for processing the award is approximately ninety (90) days from the receipt of application(s). MBDA anticipates award(s) will be made with a start date of September 1, 2021.

MBDA will notify unsuccessful applicants, in writing, after a final selection has been made and after an offer has been accepted.