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$11M in grants offered for ideas benefiting minority-owned businesses

$11M in grants offered for ideas benefiting minority-owned businesses


The U.S. Commerce Department is searching for innovative ideas to benefit minority-owned business, and it plans to deploy up to $11.65 million in grants to fund and implement projects.

The Minority Business Development Agency is soliciting proposals that will positively impact minority-owned businesses and the communities they serve. Ideas could range from projects to increase access to capital to resources for increased disaster preparedness.

The agency aims to equip minority-owned firms to create jobs, build scale and capacity, increase revenues, and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers.

The MBDA’s Broad Agency Announcement is open to for-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies and corporations), nonprofit organizations, institutions of higher education, commercial organizations, individuals, state and local government entities, or American Indian tribal governments.

“Minority business enterprises play a key role in our expanding economy as they not only provide over 7 million jobs in the United States but also contribute billions to the national GDP,” said Secretary of Commerce Wilbur Ross.

MBDA’s key priorities include:

  • Access to capital
  • American Indian, Alaska Native, Native Hawaiian entities and/or initiatives
  • Aquaculture
  • Disaster readiness
  • Disaster recovery
  • Entrepreneurship education program for formerly incarcerated persons
  • Global Minority Women Economic Empowerment Initiative
  • Historically Black Colleges & Universities Initiative
  • Inclusive Infrastructure Initiative
  • Research
  • Space commerce
  • Sustainable business model
  • Technology transfer and commercialization
  • Virtual business centers

A pre-application teleconference to educate potential applicants about the federal funding opportunity announcement is scheduled for 1-2 p.m. CDT on June 21. MBDA encourages applicants to attend a pre-application teleconference.

The deadline to submit completed applications for the broad agency announcement is 10:59 p.m. CDT on July 11. Applicants are encouraged to submit applications as soon as possible to receive funding for Fiscal Year 2018.

For more information and to register for a pre-application teleconference, visit the BAA page or MBDA.

Categories: News Updates


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