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Fedex Small Business Grant Contest
The FedEx Small Business Grant Contest provides a top prize of $50,000, along with funds towards print and business services. The contest will be reopening on February 16. In the past, it has been open to for-profit businesses in operation for at least six months with no more than 99 employees. Read the full rules and eligibility.
to learn about what youâll need to prepare to enter.
Free Government Money And Support
Almost every federal and state government is eager to promote their own startup ecosystem. How can you take advantage of this support?
For US-based companies, a good starting place is Grants.gov, where you can find a fairly comprehensive directory of federal grants, searchable by keyword, agency, funding-type, and date. For innovation research and technology transfer funding, Small Business Innovation Research and Small Business Technology Transfer are competitive programs that encourage domestic small businesses to engage in Federal Research/Research and Development with the potential for commercialization. GrantWatch centralizes data on US funding opportunities, but its focus is on the non-profit sector, which excludes many startups.
For non-federal grants, we suggest search for technology grants or innovation grants in connection with your local state or city. Also, look to your local Small Business Development Center. For state and municipal level resources, explore the Funding Opportunities provided by the EDA. Nerdwallet has compiled specific small-business grants for women, veterans, and minorities.
A number of companies specialize in helping companies leverage government support:
From all the diversity that is government-related grants, weve squeezed out a shortlist of grant programs related to the regions and industries that many of our portfolio companies are located in :
New York
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Orlando Downtown Commercial And Residential Building Improvement Program
This Orlando program provides business grants between $15,000 and $120,000 for organizations that make improvements to buildings within the downtown Orlando Community Redevelopment Agency boundaries. This program encourages the reuse of vacant or underutilized properties and hopes to improve the appearance and support the long-term viability of downtown Orlando.
Good For: Technology Companies
The federal research SBIR grant program is for entrepreneurs focused on innovations in technology that have the potential for commercialization. You can check its funding opportunities here. Focus areas from the past include clean and safe water, homeland security, land revitalization, green construction, advancement of health care, and more.
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How To Find Free Government Money Never Pay Back
In the US, the government gives away millions of dollars to the people who are in need as a grant. They provide this free money grant to the people who need it. If you also need the free money and want to get it, then you have to know about the grant and how you can proceed with it. You can get the information for the process and get the free money grant from the government that you have never to pay back.
State Government Grants For Small Business
State-level small business grants are generally geared toward that particular stateâs social or economic concerns. Theyâre meant to work in tandem with federal or other state grants, so youâll usually get less funding. That said, theyâre much more accessible due to lower competition. Also, many are matching grants: Instead of just providing the funds for you to use for a certain purpose, some will require that you match the money they give as well.
You can search for business grants in your own state and industry by looking at your states department of commerce website or grants portal. Below, we list some popular state grant programs and resources.
Also, an important note: While weâre listing state-specific government grants for small businesses, many of these run across multiple states, so donât give up if the grant looks right but your states donât match.
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Other Us Government Small Business Grants
- The US Economic Development Administration offers a variety of funding programs for projects that support regional economic development. Federal grant recipients receive funding for construction projects, construction planning, technology development research, and more.
- The National Institute of Health is offering a wide variety of funding grant opportunities for businesses developing biomedical research related to COVID-19.
- The Small Business Innovation Research and Small Business Technology Transfer programs offer funding for technological research for small companies, with the goal of promoting high-tech innovation.
- The US Department of Commerce Minority Business Development Agency has a wide variety of small business programs intended to assist with the growth and development of minority-owned businesses throughout the United States.
- The US Department of Energy clean energy grants are offered to businesses that have previously received SBIR or SBTT funding to assist in creating clean energy and to fund companies whose goals are to combat climate change.
- The US Department of Agricultures Rural eConnectivity Program is a grant program offering federal small business grants to companies and projects that assist rural communities in recovering economically from the impact of the COVID-19 pandemic, particularly in disadvantaged communities or that help to mitigate the effects of climate change within rural communities.
Real World Examples Of Government Grant Money In Action
Example: In 2007, a company called TruTouch Technologies received grant money to assist in the development of its invention, a device that detects blood-alcohol levels by shining infrared light on the skin.
The uninvasive test takes 60 seconds to get results, as opposed to 20 minutes for a Breathalyzer.
The funding came from an IRS program that offered grants to businesses that demonstrated the potential to develop new therapies to treat chronic conditions or unmet medical needs, reducing longterm health care costs in the United States.
That was the public policy purpose. Said Dr. Trent Ridder, CTO of TruTouch, the grant recognizes our commitment to reducing the devastating medical costs caused by alcohol related accidents and injuries.
The company got almost a quarter million dollars in Round 1, and another $438,000 in Round 2 the second grant coming from the United States Army Medical Research and Materiel Command .
The point of this story is two-fold:
The fact is, while there is indeed some limited grant money available to business, it is not for individuals, not for startups, and also is very difficult to get.
Beyond SBIR/STTR, there are some other, less technical grants available through other federal agencies. You can find them at
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Consider Hiring A Grant Writer
Grant writing is an art, so consider hiring a grant writer. A grant writer will know what kind of language to use to make your application stand out, which can make quite the impact when you’re competing.
It’s worth noting that grant writers can be expensive. So, if you’re strapped for cash, you may want to hold off and consider taking some free grant writing courses instead.
Before applying to grant programs, ensure you’ve covered all your business’s legal bases and have a story to tell along with a business plan to show.
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About the Author
What Is A Business Grant
A business grant is a form of funding that doesnt need to be repaid. In other words, grants are essentially free money for your business. Grants, as you can see from the above list, can come from various places, including the federal or state government, large corporations, smaller nonprofits, private individuals, and more.
However, as you likely also gathered from our list of small business grants, there are typically several criteria that must be met to be eligible for a specific business grant. Grants are also incredibly competitiveâafter all, who wouldnt want free money? The uses of a business grant will vary depending on the specific grant, but may include helping you grow your business, retain or create jobs, or develop a new product or idea.
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Write And Submit A Grant Proposal
Various government small business grants exist that provide funding for a wide range of problems. Some of these government small business grants are discussed later in this article. Each grant has specific requirements you should ensure that your business can meet these requirements before investing time and money into creating a grant proposal. It often works best to hire a grant proposal writer because writing a grant proposal is a time-consuming and detailed process.
Top Places To Get Free Money To Start A Small Business
Small businesses can receive grant money from several sources. The exact opportunities you apply for may depend on your location, industry, and other factors. However, there are several federal grants, nonprofit opportunities, and state programs that may appeal widely to small businesses. Here are several common ones.
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Ben Franklin Technology Partners
Ben Franklin Technology Partners has been investing in startups in central and northern Pennsylvania for more than 30 years. Tech startups can potentially receive up to four yearly infusions of cash totaling around $500,000. Small manufacturers may be eligible for a one-time investment of up to $250,000. To learn more about eligibility, check out their website.
Scottish Wedding Industry Fund
This new fund aims to provide support to businesses whose main income comes from the wedding and civil partnerships industry, which has been significantly impacted as a result of the COVID-19 pandemic. Its provided by the Scottish Government and administered by Scottish Enterprise, South of Scotland Enterprise and Highlands and Islands Enterprise.
The fund offers a fixed grant amount based on turnover. The funding tiers are:
- A £5,000 grant for businesses with a pre-COVID-19 turnover between £10,000 and £49,999
- A £10,000 grant for businesses with a pre-COVID-19 turnover between £50,000 and £99,999
- A £15,000 grant for businesses with a pre-COVID-19 turnover between £100,000 £249,999
- A £25,000 grant for businesses with a pre-COVID-19 turnover of more than £250,000
The application form will be available from January 28 2021 at 12pm.
The Workplace Innovation Grant is paused until the new financial year.
Scottish-based businesses who want to introduce innovative practices in their workplace
The fund can contribute up to £5,000 towards activities that will allow a business to introduce new and innovative workplace practices. To get the grant, the project must fulfil at least two of the following three criteria:
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Colorado Export Development Grant
Colorado regularly ranks as one of the best states for startups and entrepreneurship, and the state government is helping to make sure that innovation continues in this state. Colorado offers government grants for many types of small and medium-sized businesses, especially businesses that are interested in international development or that are involved in advanced industries like robotics.
Free Money For Education
When a person or a student wants to continue their study, or after a gap they want to return to their study, then the government surely help them to get the free money grant for education. Because education is the stone corner for the development of the nation. And the government always helps the people who want to study and do something for the nation. Even the US government expand its beneficial programs for education purposes.
Even many of the students can get free money grant from the government such as the preschool children, nursery education, private education, and the people who want to continue their education after a gap, or the engineering students, computer science students, medical students who want to continue their education the government always stand beside them. Even the government also organizes programs that help many people to start their studies again and encourage them to fulfill their dreams.
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Us Government Research And Development Funds
The U.S. government doesnt offer funds for you to start a business, but if youre in the business of health research or working on an environmental project, the Small Business Innovation Research and Small Business Technology Transfer programs may help. They offer small-business federal funds for research and development, awarded directly through federal agencies like the National Institutes of Health or the Department of Energy.
An easy way to search and find these research-oriented funds is to use the Grants.gov website. For small-business owners, this site can be overwhelming and difficult to navigate. However, if you use its advanced search tool, you can find a long list of health and environmental projects for which grants are available. Select all for most of the drop down boxes, and scroll down to the Search by Eligibility box and select small businesses. At press time, 790 grants existed for the keyword.
Us Department Of Agriculture Grants
USDA grants focus on agricultural development in rural areas. Some of the government grants offered include:
- Rural Economic Development Loan & Grant Program
- Rural Energy for America Program Renewable Energy Systems & Energy Efficiency Improvement Guaranteed Loans & Grants
- Rural Microentrepreneur Assistance Program
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Small Business Grants For Women
Here are some small business grants for women-owned businesses:
- Amber Grant for Women: Each month, the Amber Grant Foundation awards $10,000 to one women-owned business, and at the end of the year, one of the 12 monthly winners receives an additional $25,000 grant. The short application requires a $15 fee, and asks what you would do with the money.
- Cartier Womens Initiative: The Cartier Womens Initiative is a set of entrepreneurship programs for women business owners, including a fellowship program and several awards offering grants of $100,000.
- Tory Burch Foundation Fellows Program: This yearlong fellowship provides mentorship and business guidance to 50 women business owners, along with a $5,000 grant for business education.
If none of these grants are the right fit, or if you need more funding, consider small business loans for women.
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Competitive Small Business Grants
Financial assistance is sometimes available to all businesses that apply. But the following programs offer competitive grant funding opportunities to award the most deserving firms.
- FedEx Small Business Grant Contest: FedEx has run its annual small business grant contest since 2012, providing more than $1.5 million in cash and prizes. The program is open to entrepreneurs around the country, so it is a popular grant program with lots of competition.
- Visa Everywhere Initiative: Visa Everywhere is an annual grant contest for startups and fintech companies. The finals for this years contest are set to compete in Qatar this November. But applications should reopen again in 2023.
- U.S. Chamber of Commerce Dream Big Awards: The U.S. Chamber of Commerce is a nationwide organization empowering local chambers and business groups throughout the country. This grant program is open to U.S. small businesses, and local chambers of commerce are encouraged to connect with local members to help them apply.
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Us Economic Development Administration
The EDA is mandated to foster economic development in all US communities. Grant money is part of the solution and can be viewed on the EDA website, which is constantly being updated to reflect recent funding opportunities. For example, the most recent funding opportunity listed is the Fiscal Year 2020 Public Works and Economic Adjustment Assistance Programs. This grant provides $587 million in funding opportunities for small businesses affected by natural disasters in 2018. Clicking the link redirects you to the Grants.gov website, where you can view details about the grant.
National Association For The Self
The National Association for the Self-Employed Growth Grant was established in 2006. Over the years, NASE has awarded roughly $1,000,000 to entrepreneurs to help grow small businesses.
- Award amount: Up to $4,000
- How to apply: Visit NASE’s website for information on the grant and how to become an NASE member.
You must be a member of NASE to apply for this grant, but winners can receive up to $4,000 to go toward marketing, team growth, and other needs.
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