Give Your Small Business an “EDGE” with funding from the Division of Small Business
Give Your Small Business an “EDGE” with funding from the Division of Small Business
Access to funding is one of the things that most startup and early-stage small businesses say is one of the hardest things to come by, and one of the most critical needs they have. The Delaware Division of Small Business (DSB) is helping many overcome this hurdle through its Encouraging Development, Growth and Expansion (EDGE) Program.
EDGE is a competition for grant funding. Five STEM-based companies can each receive up to $100,000 for eligible expenses while five Entrepreneur Class (non-STEM) businesses can each receive up to $50,000. Since the program launch in 2019, DSB has awarded $5.0 million to 80 small businesses.
The first round of the 2024 EDGE Grant Competition opens Feb. 1. To help potential applicants prepare, the Delaware Division of Small Business (DSB) is hosting two webinars.
The first is an informational webinar on Jan. 22nd at 2 p.m. The second, set for Jan. 23rd at 10 a.m., explains how to use our free business analytics tool, SizeUP Delaware, to strengthen your EDGE application. Registration is required, so go to de.gov/edge, or scan the QR codes in the attached flyer to sign up!
To be eligible to apply for the EDGE competition, your small business must have been in operation for less than seven years (start-ups are encouraged to apply!) and have 10 or fewer full-time or FTE employees (part time).
Small business owners can apply for funding to support expenses that help improve the company’s long-term chances of success and sustainability, such as purchasing needed equipment that can increase production capacity, improving building infrastructure, or contracting for website design or a marketing campaign to help acquire more customers. DSB matches a winning business’s investment on a 3-to-1 basis.
Past awardees have included a drone company in need of an indoor facility, a company developing a new product for next generation silicon solar cells, an outdoor beer garden, and an electrical company. For future rounds, DSB is particularly focused on increasing the number of applicants from Kent and Sussex Counties, especially in the STEM category.
DSB operates the EDGE competition twice each year. After each round’s application closing date and a few rounds of internal evaluation, finalists will pitch their grant proposals to a panel of expert judges approximately a month later, and while winners will be notified within a week. A public awards ceremony takes place within the following two months.
