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MBDA Capital Readiness Program Grant Competition

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Business People

MBDA is seeking proposals for its $93.5 million Capital Readiness Program grant competition to help minority and other underserved entrepreneurs launch and scale their businesses. This Program will provide funding to incubators, accelerators, and other eligible organizations across the country with expertise to support underserved entrepreneurs by providing training and other critical resources, tools, and technical assistance to access capital.

Jumpstarting the next generation of entrepreneurs is essential, not only to spurring innovation, but also to building a more resilient economy that’s reflective of all Americans. That’s why this competition seeks proposals from applicants who will:

  1. serve minority, women, and other underserved populations;
  2. help entrepreneurs build capacity;
  3. attract and provide access to capital opportunities;
  4. provide access to networks.

MBDA encourages organizations that have not traditionally focused their services to meet the needs of underserved communities to form strategic alliances with entities that serve those communities to apply for this funding opportunity.

MBDA plans to fund proposals for up to $3 million over four years per grantee. The Capital Readiness Program is intended to serve entrepreneurs and businesses that are applying, have applied, or plan to apply to Treasury’s State Small Business Credit Initiative (SSBCI) or other government programs that support small businesses.

The following are categories of organizations eligible to apply for this funding opportunity:

  • Non-profit organizations;
  • Private sector entities (defined as entities that are not public sector entities). This includes, for example, for-profit entities of any type, including sole-proprietorships, partnerships, limited liability companies, and corporations, but does not include public sector entities such as Federal, State, Local, or Tribal Governments, agencies, or any of their instrumentalities;
  • Institutions of higher education;
  • A consortium of two or more of any of the above-mentioned eligible applicants. In a consortium application, there must be a designated lead applicant; the lead applicant would enter into the award agreement with MBDA and assume primary operational and financial responsibility for completing the project should an award be made.

 

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Frequently Asked Questions
Updated: February 2, 2023

Interested in sharing this opportunity with your network? Download our press kit!

 

Pre-Application Webinars

REGISTER HERE!

 

Program PrioritiesProgram Priorities
During this webinar, MBDA will provide general competition and funding opportunity information related to the Capital Readiness Program. MBDA will also discuss competition key dates and logistics. Participants will have an opportunity to participate in a live chat and ask questions.

→ View Webinar

→ Download Presentation Slides

 

 

Application Review Criteria Application Review Criteria
During this webinar, MBDA will provide an overview of the application review criteria that will be used to score applications for funding under the Capital Readiness Program.  Participants will have an opportunity to participate in a live chat and ask questions.

January 17, 2023 | 2:00 - 3:00 Eastern Time

→ View Webinar

→ Download Presentation Slides

 

Budget Best Practices and PitfallsBudget Best Practices and Pitfalls
MBDA will highlight best practices and pitfalls to avoid when developing the Capital Readiness Program budget and workplan. Participants will have an opportunity to participate in a live chat and ask questions.

January 24, 2023 | 2:00 - 3:00 Eastern Time

→ View Webinar

→ Download Presentation Slides

  

The MBDA Grant Application in 5 Steps

  1. Register your organization to apply for a MBDA grant. Register your business to obtain a Unique Entity ID number so that your application can be tracked. Next register with SAM. To do this, you will need to identify the authorizing official for your organization and an Employer Identification Number. These two numbers are needed to create a Grants.gov account
  2. Understand the Grant Announcement. Visit the specific grant page on MBDA.gov to learn more about the program and find frequently asked questions. Then, locate and download the grant application package from Grants.gov. 
  3. Attend pre-application webinars to learn more about the grant and requirements. All webinars are recorded and made available at mbda.gov for future reference. 
  4. Understand the evaluation process. Thoroughly read the announcement, paying special attention to key sections including eligibility, deadline, and selection process. Also, be sure to address all requirements outlined in the announcement.
  5. Prepare and Submit Application. When application is complete, log onto Grants.gov and submit application. Application MUST be submitted before deadline. After submission, print confirmation of submission.