Dover, Del. (September 2021) – Young Delaware companies in need of funding to help expand their business can now apply to compete for an Encouraging Development, Growth and Expansion (EDGE) Grant from the Division of Small Business. The division will be accepting EDGE Grant applications until September 30 from promising early-stage businesses throughout Delaware.
Businesses who are less than five years old and employ no more than 10 employees are eligible to apply for an EDGE Grant. The grants are awarded through a competitive selection process. STEM-based companies can receive up to $100,000 for eligible expenses while Entrepreneur Class (non-STEM) businesses can receive up to $25,000.
EDGE is a matching grant program. The Division of Small Business matches a winning business’s investment on a 3-to-1 basis. The business can spend EDGE grant funds on expenses that help improve the company’s long-term chances of success, such as a marketing campaign to help acquire more customers or purchasing a needed piece of equipment that can increase production capacity.
Applications for the competition round are being accepted until September 30 at 5 p.m. Finalists will pitch their grant proposals to a panel of expert judges with winners announced in early 2022.
Businesses should visit www.delbiz.com/edge for eligibility requirements, to download the grant application and to connect with a Regional Business Manager for assistance.