By Kathie Callahan Brady and MINA IZADJOO, PHD | May 17, 2018
Mina Izadjoo, PhD and her team grow more than cells in her lab at the Frederick Innovative Technology Center, Inc. (FITCI) on Metropolitan Court. She helps nurture the next generation of scientists. Dr. Izadjoo is President and Chief Science Officer of Integrated Pharma Services (IPS). She is the... Read more
There is an ongoing debate exploring whether entrepreneurs are born or molded by their experiences. Some believe the entrepreneurial spirit is a deep-seated innate gene that you either have or you don’t. Being an entrepreneur means you’re willing and excited at the prospect of jumping into... Read more
Ethereum, a leader in the burgeoning crypto currency market, awarded Frederick-based start-up Decentralized Derivatives Association (DDA) a $100K grant for research and development. DDA was invited to apply just two months after its establishment in October 2017, based on beta market response to... Read more
By TAKA AMANO and Kathie Callahan Brady | May 2, 2018
Taka Amano logged enough trips between his native Japan and the US, his adopted homeland, to circle the globe more than 50 times. He’s not a pilot, just a self-described “science nerd” who spun an Interdisciplinary Studies degree into a successful consulting firm, helping companies in both... Read more
Mike Herod and Jarred Nicholls are vampire hunters, of sorts. They target the sneaky, power-sucking drain of electronic devices – such as game consoles, printers, televisions, and appliances – that silently siphon energy out of homes and businesses. Now, they are recruiting early adopters to... Read more
By Dr. Xiaonao Liu, CEO, Nanobiofab | April 17, 2018
On Sunday April 8th 2018, Dr. Xiaonao Liu was awarded first place in the US Eastern Entrepreneurship Contest, hosted by the Center for US-China Technology, Innovation, and Development. This contest which took place in our nation’s capital, Washington DC, is an annual competition for all... Read more
Margot Connor has global ambitions for her company, RoosterBio Inc. But she expects that it will stay connected to its Frederick roots.Connor, RoosterBio’s CEO, said the company will likely open locations in other areas as it looks to grow.“We want to address all markets,” Connor said.But she... Read more
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U.S. DEPARTMENT OF COMMERCE ANNOUNCES 51 “BUILD TO SCALE” GRANTS TOTALING $47 MILLIONTO FUEL INNOVATION AND TECH-BASED ECONOMIC DEVELOPMENT
Contact: EDA Public Affairs Department, (202) 482-4085
October 5, 2022
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding 51 “Build to Scale” grants – totaling $47 million – to organizations that support technology entrepreneurs, catalyze innovation and fuel economic growth.
EDA’s “Build to Scale” program provides annual grants that aim to accelerate technology entrepreneurship by increasing inclusive access to entrepreneurial support and startup capital. The 2022 awardees will leverage an additional $48 million in matching funds from a variety of private and public sector sources. These EDA investments support advanced manufacturing, bioscience, clean energy and blue economy clusters in regions throughout the United States.
"Strengthening technology ecosystems are a critical key to the Biden Administration's efforts to build a stronger America,” said Secretary of Commerce Gina Raimondo. “Innovation and entrepreneurship have long been keys to American success and will continue to strengthen our collective economic and national security, as well as individual prosperity and well-being.”
"EDA is proud to partner with this year's 'Build to Scale' grantees as they invest in entrepreneurs and create equitable access to capital in their communities," said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. "These projects will give the next generation of industry-leading companies a seminal boost that will result in job creation and private investment – potentially transforming a regional economy and creating economic opportunity beyond what we can foresee.”
The 2022 Build to Scale program was comprised of two competitions––the Venture Challenge and the Capital Challenge. The Venture Challenge supports programs that enable high-growth technology entrepreneurship and foster inclusive access to proven entrepreneurship support models. The Capital Challenge increases access to capital in communities where risk capital is in short supply by providing operational support for early-stage investment funds, networks, and training programs that focus on both traditional and hybrid equity-based financing.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.