The U.S. Economic Development Administration today announced the 50 organizations that will share in grants totaling $36.5 million to support programs that fuel innovation and tech-based economic development as part of the Build to Scale program. The 2021 awardees will leverage an additional $40 million in matching funds from a variety of private and public sector sources. SSTI has been a proponent of the Build to Scale program, which had not received any federal appropriations prior to the creation of SSTI’s Innovation Advocacy Council.
The 50 organizations hail from 26 states and include venture development organizations, state agencies, nonprofits, institutions of higher education, and other entrepreneurship-focused organizations. The FY 2021 Build to Scale program was comprised of two competitions –– the Venture Challenge, which leverages regional strengths to accelerate innovation and job creation through high-growth technology entrepreneurship, and the Capital Challenge, which increases access to capital in communities where risk capital is in short supply by providing operational support for early-stage investment funds, angel capital networks, or investor training programs.
The full list of recipients is available here, and SSTI is happy to recognize a number of members among the winners, including:
2021 Venture Challenge Grant Recipients:
- Arizona Commerce Authority, Phoenix, Arizona, $750,000
- Auburn University, Auburn, Alabama, $657,622
- Donald Danforth Plant Science Center, St. Louis, Missouri, $1.5 million
- FuzeHub, Albany, New York, $753,546
- Launch New York, Buffalo, New York, $750,000
- Louisiana Tech University, Ruston, Louisiana, $1.5 million
- Rev1 Ventures, Columbus, Ohio, $1.4 million
2021 Capital Challenge Grant Recipients:
- TechTown Detroit, Detroit, Michigan, $400,000
- University of South Carolina, Columbia, South Carolina, $400,000