Federal Grants Support Businesses Working Toward Major Technological Advancements

Innovating new technology and researching improvements in your field can require a lot of resources. Luckily, small business grants are available to help companies overcome these challenges and solve major problems that impact their communities and the world. Read on for some recent grant opportunities, including a major federal grant program that just announced a large funding round.

U.S. Department of Energy SBIR and STTR Grants

The U.S. Department of Energy just announced a $72 million funding round for small businesses pursuing projects related to clean energy, climate research, and technological advances. The funds are being dispersed to 296 projects across 44 states. The program is funded through the DOE’s SBIR and STTR grant programs. The awards just announced are for Phase I of the program; recipients will then have the opportunity to compete for larger Phase II awards to continue their research and development projects. Businesses have already been selected for this round of the program. But this annual fund is likely to continue accepting projects going forward. Additionally, some states have matching grants for projects receiving SBIR and STTR funds. So check your state’s website for details if you’ve been awarded an SBIR or STTR grant.

federal grants for businesses working on technological advancements

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Orange County BOOST Program

Orange County, Florida is launching a new grant program to support small businesses, home-based businesses, and gig workers. Funded through the American Rescue Plan Act, the Business Opportunities in Orange County for Support and Transformation (BOOST) program includes $26 million to support businesses hurt by the pandemic. Eligible businesses may receive up to $10,000. Home-based businesses can apply for up to $3,000. And gig workers may be eligible for up to $1,400. To qualify, all businesses must document at least a 25 percent drop in revenue between 2020 and 2023. The online application portal opens July 18. And the program will remain open until funds are depleted.

New Haven Equitable Entrepreneurial Ecosystem Grant

The Community Foundation for Greater New Haven in Connecticut is offering a $8.7 million grant program for local businesses. The New Haven Equitable Entrepreneurial Ecosystem Grant will award $6,000 grants to 750 small business owners throughout the Greater New Haven area over the next five years. Eligible uses for funds include new equipment purchases, marketing, payroll, inventory, or other operational expenses. The application portal is now accepting applications online. The website also features access to entrepreneurial support organizations that can guide applicants through the process.

USF Small Business Accelerator

The University of St. Francis Business Incubator in Joliet, Illinois is creating a new accelerator program to support small businesses. The new initiative is funded through a $500,000 U.S. Small Business Administration FY23 Congressional Community Project Grant. The USF Small Business Accelerator aims to help small businesses in underserved categories throughout the region. The accelerator will help businesses access funding, mentorship, training, and educational resources. Interested businesses can apply for funding via email.

Delaware Spark Grants and Rental Energy Assistance Grants

Energize Delaware is launching two new grant programs to support small businesses and landlords. The Spark Grants program will provide minority-owned small businesses with grants of up to $25,000. Recipients will also get a one-year membership to the Sustainable Business Network of Greater Philadelphia. Additionally, the Rental Energy Assistance Grant program will provide grants of up to $20,000 to residential landlords in an effort to improve the community’s relationship with landlords.

Small Business Deals

Revitalize Las Cruces Small Business Grant Program

Las Cruces, New Mexico and LiftFund are partnering to launch the Revitalize Las Cruces Small Business Grant Program. The $1 million fund aims to support small businesses negatively impacted by the pandemic. Eligible businesses can apply for grants of up to $25,000 to cover various expenses like payroll, working capital, rent, inventory, and operational costs. The city is hosting a bilingual virtual informational session to walk interested businesses through the application process on July 17. The application period is open now through July 28.

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Annie Pilon Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found exploring all that her home state of Michigan has to offer.

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