2021 Build to Scale Program

The 2021 Build to Scale Program is a notice of funding opportunity from the U.S. Economic Development Administration (EDA) to support regional innovation initiatives. The program aims to accelerate high-quality job growth, create more economic opportunities, and support the future of the next generation of industry-leading companies. The program invites organizations that aid companies in developing the next generation of technologies to apply for funding. There are two separate competitions under this program: the Venture Challenge and the Capital Challenge. The Venture Challenge supports entrepreneurship and accelerates company growth, while the Capital Challenge provides operational support for the formation, launch, or scale of investment funds. Eligible applicants include states, Indian tribes, cities, and other political subdivisions of states, as well as nonprofit organizations, institutions of higher education, public-private partnerships, and economic development organizations. Some key points to consider: • The program requires a 1:1 match, meaning that applicants must demonstrate a commitment of at least one dollar of matching share for every dollar of federal funds requested. • The maximum federal share for Venture Challenge Build awards is $750,000, and for Venture Challenge Scale awards is $1,500,000. • The maximum federal share for Capital Challenge awards is $400,000. • The period of performance for awards is typically three years, with an anticipated start date of October 1, 2021. • Applicants must submit a project narrative, budget narrative and staffing plan, matching share commitment letters, and other required documents as part of their application.