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News and Announcements

  • Submitted on 08 February 2016

    25 Grants Issued through the Regional Innovation Strategies Program to Spur Capacity-Building and Access to Capital for Innovators and Entrepreneurs

    WASHINGTON – Today, U.S. Secretary of Commerce Penny Pritzker announced the 25 awardees that will receive $10 million under the Economic Development Administration’s (EDA) 2015 Regional Innovation Strategies (RIS) program. The 2015 RIS program is managed by EDA’s Office of Innovation and Entrepreneurship (OIE) and is designed to advance innovation and capacity-building activities in regions across the country through two different competitions: the i6 Challenge and the Seed Fund Support (SFS) Grants competition.

  • Submitted on 07 February 2016

  • Submitted on 02 February 2016

    The National Institute of Standards and Technology (NIST) today opened a competition to award new cooperative funding agreements for its Hollings Manufacturing Extension Partnership (MEP) centers in 12 states and Puerto Rico. The competition continues a multiyear effort to update the program’s funding structure to better match manufacturing industry needs with resources in MEP's nationwide network. The MEP centers help small and mid-sized U.S. manufacturers create and retain jobs, increase profits and save time and money.

  • Submitted on 01 February 2016

  • Submitted on 26 January 2016

    During the week of September 19, 2016, on the occasion of the 71st Session of the UN General Assembly, Bloomberg Philanthropies and the U.S. Department of Commerce will co-host the second U.S.-Africa Business Forum, a day focused on increased trade and investment between the U.S. and African nations. The U.S.-Africa Business Forum will build on the progress of the inaugural Forum, held during the 2014 U.S.-Africa Leaders Summit with the participation of nearly 50 heads of state or government and more than 150 global CEOs – to further develop trade and business opportunities between the United States and Africa. 

  • Submitted on 19 January 2016

    Last week, U.S. Secretary of Commerce Penny Pritzker and Minority Business Development Agency (MBDA) Director Alejandra Y. Castillo hosted a roundtable with local minority business leaders in New Orleans to discuss the tremendous growth of minority-owned businesses and their impact on the local and national economy. The roundtable also addressed the challenges and opportunities of doing business in the Gulf Coast as the region continues to rebuild from Hurricanes Katrina and Rita, and the effects of the 2010 Deepwater Horizon Oil Spill.

  • Submitted on 19 January 2016

    The Presidential Ambassadors for Global Entrepreneurship (PAGE) initiative announced today that NASA will become the fifth interagency member to the join the growing partnership.  NASA will work closely with PAGE members who focus their efforts towards supporting entrepreneurship in the science and technology sectors.

    “NASA has long captured the dreams of a nation and represented a whole universe of possibilities for entrepreneurs,” said U.S. Secretary of Commerce Penny Pritzker, who also chairs the PAGE initiative on behalf of President Obama. “I am really thrilled that Administrator Bolden and NASA have agreed to start working with us on our mission to help aspiring entrepreneurs grow their ideas into businesses.”

  • Submitted on 29 December 2015

    To help minority-owned small businesses navigate the evolving lending landscape and secure the right financing they need to grow, Funding Circle, the world's leading marketplace for business financing, has partnered with the Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce.

    Through the partnership, Funding Circle's small business experts will deliver a range of original financial education programs to minority business owners through MBDA's national business center network. The materials will focus on access to alternative capital, business strategy and every business owner's right to fair and transparent financing, as outlined in the Small Business Borrowers' Bill of Rights.

  • Submitted on 10 December 2015

    U.S. Secretary of Commerce Penny Pritzker today delivered remarks and chaired a meeting of the Gulf Coast Ecosystem Restoration Council in Biloxi, Mississippi. During the meeting, the Council approved the Initial Funded Priorities List (FPL) totaling approximately $183 million of ecosystem restoration projects. Using funds from the settlement with Transocean Deepwater Inc., the Council is providing initial investments to address critical needs of 10 watersheds across the Gulf to help restore the region’s ecosystem and strengthen economic resilience. 

  • Submitted on 04 December 2015

    MBDA increasing push on policy development

    Agency welcomes new talent to senior leadership team

    The Department of Commerce, Minority Business Development Agency’s mission is to promote the growth of minority owned businesses through the advancement of public and private sector programs, policy, and research. In the upcoming year, the Agency will continue to build on its programs and services with an expanded focus on policy.


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