The Division of Small Business’s (DSB) fall EDGE Grant Competition opens to begin accepting applications on Aug. 11.
EDGE – short for Encouraging Development, Growth and Expansion – is DSB’s flagship funding program, which has distributed $10.3M to 136 small businesses in the last 6 years.
The program has undergone several changes since it began in 2019. The current version features a total of $1.15M available in funding, and post award supports for finalists and winners.
“Delaware’s business landscape continues to evolve, and the EDGE competition is evolving with it,” said DSB Director CJ Bell. “We are giving business owners the tools they need not just to stay in business but scale and expand…to take that next step toward long-term sustainability.”
Changes to this year’s competition include making EDGE a one-day pitch and award event to be held Nov. 10th. The event will also include education, networking with small business vendors, and an opportunity for high impact small businesses to meet with Venture Capital (VC) firms in hopes of making matches between the two.
Eligibility for EDGE includes individuals who have not yet opened their business or have a business that has been in operation for less than seven years. The business must be majority located (51% or more) in Delaware and employ 15 or fewer full-time employees.
Business owners can apply in one of two categories: Entrepreneur (most businesses) or STEM. Applicants for the Entrepreneur track can apply for a portion of $400K in funding. Those in the STEM track can apply for a portion of a $750K pot.
Up to 10 Entrepreneur finalists and up to 8 STEM finalists will be selected to pitch. Finalists and awardees will receive additional post-pitch, in-kind services and/or post-award support to help them grow.
One of those tools is the recently launched DSB Recipient Network where prior EDGE winners as well as past recipients of other DSB funding streams gather to network, learn additional business strategies, and exchange ideas with others in the industry.
Applications for EDGE will be accepted from Tuesday Aug. 11 – Friday Sept. 11, at 4:00 p.m. Support materials including the proposal templates and scoring rubric will be placed on de.gov/edge.
Applicants are strongly encouraged to work with a DSB Business Manager for initial guidance and then feedback on how to improve their application before submission.
Funding for EDGE can be used for purchasing equipment that can increase production capacity, improving building infrastructure, obtaining rental space (purchasing property is not an eligible expense), or contracting for website design or a marketing campaign to help acquire more customers.
Learn more at de.gov/edge.
