Posted at 7:00 AM
WASHINGTON (November 18, 2016) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) today announced the first round of winners of their Broad Agency Announcement (BAA) competition. The agency is providing more than $1.4 million dollars in grant money to fund the projects.
The BAA is designed as a vehicle for organizations to submit proposals for new programs, education, outreach, innovative projects, or sponsorships not addressed through the existing MBDA business center programs. The BAA grants run for one year and the agency has the option to extend the funding for an additional year at their discretion.
“We want to congratulate all of our winners,” said MBDA National Director Alejandra Y. Castillo. “The BAA is a new vehicle for us, and it’s one that we’re confident will impact minority business enterprises for the better. We are excited to see these projects take shape and to contribute the funding to make them a reality.”
BAA proposals must align with the Agency’s key priorities centered around supporting minority businesses that include: Inclusive Innovation, Commercialization and Entrepreneurship; Business and Economic Rehabilitation in the Gulf States; Federal Contracting Transition and Sustainability; MBE Community Business Access to Capital; and Business Innovation for the Next Generation.
A list of grant recipients includes:
U.S. Black Chamber Community Economic Development Corporation was awarded $665,000 to create the USBC Capital Pathways Program. The USBC Capital Pathways Program provides minority-owned firms with access to credit assessment services, a local network of chambers and strategic partners for specialized services, educational resources, and connections to capital funding sources for business expansion.
U.S. Black Chamber Community Economic Development Corporation was awarded $225,000 to launch the USBC Millennial Entrepreneurs Redefined program. The program provides entrepreneurs with educational resources, access to a local network of top entrepreneurs, and a collaborative learning environment to study the business marketplace and develop unique business ideas.
Rutgers University was awarded $407,668 to launch the Minority Tech Entrepreneurship, Innovation and Commercialization Initiative designed to increase the number of minority business enterprises engaged in federally-funded innovation and commercialization programs. It will include a national town hall, website and webinar series, and mentoring boot camp.
Emerging Technology Consortium was awarded $333,788 to launch a pilot to help improve the number and dollar value of contracts awarded to minority serving institutions (MSIs). The Path to Sustainability Contracting Initiative Project will evaluate existing programs and help develop new minority owned public private research partnerships.
USBC is scheduled to host a BAA Kick-Off event in New Orleans Nov. 25.
The BAA competition is open until June 21, 2017 and MBDA is still accepting proposals. For-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies and corporations), non-profit organizations, institutions of higher education, commercial organizations, individuals, state and local government entities, Indian Tribal governments are eligible to apply. For more information visit MBDA.gov or grants.gov.
About the Minority Business Development Agency (MBDA)
MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers. After 47 years of service, MBDA continues to be a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing programs and services that build size, scale and capacity through access to capital, contracts and markets. Follow us on Twitter @usmbda.