The Delaware Division of Small Business (DSB) unveiled a revamped and reimagined Encouraging Development, Growth and Expansion (EDGE) grant program. EDGE 2.0 is a competitive grant fund of $1.15 million designed to take small businesses to the next level.
“After months of thoughtful conversations, we are excited to finally share the details about EDGE 2.0,” CJ Bell, DSB Director, said. “This modern version of EDGE creates clear pathways to scale, driven by collaboration with resource partners across Delaware’s innovation ecosystem.”
Since its implementation, EDGE has awarded $8 million in grants to 120 small businesses. EDGE 2.0 still features two established tracks, Entrepreneur and STEM, but now includes a pitch competition where finalists compete for scaled, flexible funding based on the strength of their pitch and application.
“Delaware small businesses are integral to our economy, and we’re committed to supporting them every step of the way,” Governor Matt Meyer said. “EDGE 2.0 will make it easier for new businesses to apply and add a new level of funding flexibility, opening doors to more Delaware entrepreneurs and making it easier for small businesses in every community to thrive.”
Changes to the grant funding process include a new, streamlined online submission option and no set number of winners or set amount awarded to each recipient. There is now a new More Money – Entrepreneur Track which offers up to $400,000 available fund, an increase of 60 percent and a STEM Track which offers up to $750,000 available funds, an increase of 50 percent.
There will be up to ten Entrepreneur finalists and up to eight STEM finalists invited to pitch. Finalists and awardees will receive additional post-pitch in-kind services and supports to help them grow. This includes membership in networking organizations and expedited pathways to DSB funding programs plus more. With EDGE 2.0, businesses that employ 15 or fewer full-time employees and have fewer than $700,000 in assets are now eligible to apply.
“What remains the same is that EDGE 2.0 remains focused on helping Delaware business owners who want to start a new business or who have been around less than seven years,” Bell said. “This is when most small businesses need the most support. Additionally, businesses must be majority located in Delaware. The grant requires that 51 percent of the business must be located in the state.
Applications will be accepted from August 8 to September 5. A webinar on how to fill out the application including proposal templates will be held on August 6 at 10 AM. Register by clicking here. Support materials including the proposal templates, scoring rubric and recordings of the webinars will be available at the SBA website in the next two weeks. Applicants are encouraged to work with a DSB Regional Business Manager for initial guidance and feedback on how to improve their application before submission.
EDGE 2.0 funding can be used for purchasing equipment that can increase production capacity, improving building infrastructure, obtaining rental space or contracting for web design or a marketing campaign. Purchasing property is not an eligible expense.
“EDGE 2.0 is built to back bold ideas and the people ready to lead them,” Bell said.
Milford area businesses who have received EDGE grants in the past include Bayside Gymnastics, Parker Group, G&R Campground, Studio B, My Sister’s Fault, The Berry Patch, Brimming Horn Meadery, and Dolce Bakery and Coffee Shop
