2023 MBDA Capital Readiness Program

The summary for the 2023 MBDA Capital Readiness Program grant is detailed below. This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact. If any section is incomplete, please visit the website for the Department of Commerce, which is the U.S. government agency offering this grant.

2023 MBDA Capital Readiness Program: The MBDA Capital Readiness Program (Program) is designed to help close the entrepreneurship gap between socially and economically disadvantaged individuals (SEDI) and non-SEDI. This notice requests applications from qualified organizations that have the expertise to provide technical assistance for entrepreneurs starting or scaling their businesses who are seeking various forms of capital. Specifically, MBDA expects this Program to serve SEDI-owned businesses that are applying, have previously applied, or plan to apply to an SSBCI capital program or other government program that supports small businesses.

Federal Grant Title:	2023 MBDA Capital Readiness Program
Federal Agency Name:	Department of Commerce (DOC)
Grant Categories:	Other (see text field entitled "Explanation of Other Category of Funding Activity" for clarification)
Type of Opportunity:	Discretionary
Funding Opportunity Number:	MBDA-OBD-2023-2007775
Type of Funding:	Cooperative Agreement
CFDA Numbers:	11.802
CFDA Descriptions:	Information not provided
Current Application Deadline:	February 28th, 2023
Original Application Deadline:	February 28th, 2023
Posted Date:	December 21st, 2022
Creation Date:	December 21st, 2022
Archive Date:	March 30th, 2023
Total Program Funding:	$93,500,000
Maximum Federal Grant Award:	$3,000,000
Minimum Federal Grant Award:	$1
Expected Number of Awards:	46
Cost Sharing or Matching:	Yes
Last Updated:	January 3rd, 2023

Category Explanation: The MBDA Capital Readiness Program (Program) is designed to help close the entrepreneurship gap between socially and economically disadvantaged individuals (SEDI) and non-SEDI. This notice requests applications from qualified organizations that have the expertise to provide technical assistance for entrepreneurs starting or scaling their businesses who are seeking various forms of capital. Specifically, MBDA expects this Program to serve SEDI-owned businesses that are applying, have previously applied, or plan to apply to an SSBCI capital program or other government program that supports small businesses. The competition seeks applicants that: (1) help SEDI entrepreneurs build capacity; (2) attract and provide access to capital opportunities; and (3) attract and provide access to networks. See Section 1.A of the NOFO. The proposed activities may resemble the service models of incubators (focusing on early-stage technical assistance for new entrepreneurs) or accelerators (providing emerging-stage technical assistance to businesses ready to expand or scale), or provide a combination of both service models. Note: given the widespread need for support for early-stage services for entrepreneurs, MBDA encourages applicants to include services for new entrepreneurs and/or businesses in the early stages of the business lifecycle as part of its offerings. See Section I.A of the NOFO. Applicants must demonstrate a plan to drive SEDI participation in their program and target the needs of one or more subgroups within the definition of SEDI. Applicants who have not historically served SEDI populations must demonstrate a commitment from at least one SEDI-serving organization (such as a community-based organization or a Historically Black College or University (HBCU), Tribal College or University (TCU) or minority-serving institution (MSI)) to work with the applicant to increase the proposed activities’ ability to effectively serve SEDI groups and effectively target SEDI needs. The applicant must explain the role the SEDI-serving organization(s) will play in the proposal. Such roles could include, but are not limited to, ensuring that the applicant’s proposed activities and curricula address the needs of SEDI group(s), identifying potential barriers to SEDI.
Applicants Eligible for this Grant: Others (see text field entitled "Additional Information on Eligibility" for clarification.)
Additional Information on Eligibility: Eligible applicants are limited to:• 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, and• 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.MBDA is not authorized to provide cooperative agreements to individuals under this NOFO, and such requests will not be considered for funding.
Grant Announcement Contact: Joann Hill
Program Officer
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