IEDC expands fund to boost entrepreneurial resources
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The Indiana Economic Development Corp. is making up to $1 million in additional funding through its Community Collaboration Fund available, the agency said Monday.
The funding is designed to support community-led projects that help accelerate entrepreneurial activity and resources throughout the state.
The IEDC launched the pilot phase of the program last year, awarding $500,000 to 16 projects that supported programming such as startup accelerators and pitch competitions, one-on-one coaching and group education, mentorship and entrepreneurial ecosystem navigation, and student entrepreneurial education.
The IEDC said those projects have served more than 1,100 entrepreneurs and hosted 60 events to fuel entrepreneurial education, connection, and acceleration.
“Indiana is leading the nation in cultivating a pro-ideation, pro-growth entrepreneurial ecosystem,” Indiana Secretary of Commerce David Rosenberg said in a news release. “Our team continues to invest in this ecosystem, creating new resources and bolstering support services for current and aspiring entrepreneurs and small business owners. The Community Collaboration Fund is yet another example of how Indiana is leading boldly and inspiring even more growth and success across the state.”
As part of the Community Collaboration Fund, entrepreneur support organizations, or ESOs, can apply for matching grants between $5,000-$40,000 to fill gaps in the entrepreneurial needs of their communities.
The IEDC said applications for the new round of funding can be submitted online and must be received by 8 p.m. on May 3.
Eligible projects must address entrepreneur education, connection or acceleration; be completed within one year of funds being awarded; provide at least a 25% match; be between two or more Indiana-based ESOs; provide direct entrepreneur support; and be a new initiative or expansion within the ecosystem.
The IEDC expects to make grant decisions by July 1.