Congressman Eric Sorensen | Official U.S. House headshot
Congressman Eric Sorensen | Official U.S. House headshot
WASHINGTON, DC – Congressman Eric Sorensen (IL-17) announced federal funding from the Economic Development Administration (EDA) to support local tech-industry partnerships and create jobs. The funding will be used to invest in programs that provide resources for regional innovators, entrepreneurs, and startups.
“To create neighborhoods where local business thrives and good-paying jobs support families for years to come, I’ll always work to connect communities directly to the resources that drive innovation and fuel growth,” said Sorensen. “This grant program is designed to do just that by uplifting entrepreneurs and creating jobs in places like Central and Northwestern Illinois.”
Funding comes from the EDA’s Build to Scale (B2S) program, which supports efforts to strengthen regional economies by investing in local scalable startups, helping communities and regions grow technology-driven businesses, create high-skill, high-wage jobs, and build the industries of the future.
The FY 2023 B2S program is 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.
The deadline to apply is 11:59 p.m. ET on July 28, 2023. If you would like to request a letter of support, please contact Congressman Sorensen’s Rock Island office at (309) 786-3406.
Click here to learn more about the FY 2023 B2S Build to Scale Program.
Original source can be found here.
Alerts Sign-up