SCRA Startup Grant

Grow-NY is an unprecedented food and agriculture business competition funded by Empire State Development that identifies, supports, and funds the top food, beverage, and agriculture innovations across the globe. Finalists receive dedicated mentorship and business development support and compete for a $1 million top prize. Winning companies commit to making a positive impact in the growing startup hub located in New York state’s Finger Lakes, Central NY, and Southern Tier regions.

The Seed Capital Matching Fund provides a source of matching grant funds to assist new, startup, and emerging small businesses located within Southwest Virginia’s e-Region and to attract new small businesses from outside the region to locate here. Since the program was established in 2017, more than 200 new business startups have been assisted in the region by the Seed Capital program and hundreds of full-time and part-time jobs have been created. The applicant must have dollar-for-dollar matching funds from one or more other sources in at least an amount sufficient to match funds requested from VCEDA. No applicant can be approved for more than $10,000 under this program.

The Arkansas Economic Development Commission (AEDC) provides limited financial support for the transfer and deployment of innovative technology. AEDC will fund up to $3,750 of costs associated with transferring new or existing technology from a qualified applicant — such as a public or private enterprise, laboratory, college or university — to an enterprise based in Arkansas. Up to $5,000 of total project costs will be considered, with the first $2,500 funded by the Authority; the remaining $2,500 is cost-shared equally (50:50) between the Authority and the enterprise. Each enterprise is eligible to receive assistance for two technology transfer projects per year. Projects are evaluated on a competitive basis.

The InStore Forgivable Loan Program provides Philadelphia retail, food, and selected personal service businesses with forgivable loans of $50,000 to $100,000 to purchase equipment and make interior improvements to their commercial space. Administered by the City of Philadelphia's Department of Commerce and expanded in 2022 with funding from the Neighborhood Preservation Initiative, the program is designed to boost economic development on historically underserved commercial corridors. No payment or interest is collected on the loan for five years, and the full loan is forgiven at the end of that period as long as the business remains open and operating at the same location, effectively functioning as a grant for qualifying businesses. To apply, businesses must be located in a low-to-moderate income community on an eligible commercial corridor, registered and licensed with the city, and current on city business taxes. A limited number of projects are approved each year, with priority given to businesses that provide affordable goods and services to the community and increase activity in commercial corridors that have historically received limited private investment.

The SBIG program provides a meaningful return on investment from the Commonwealth to encourage individuals or special purpose entities (created for the purpose of investing in small businesses) to make cash investments in Virginia’s small businesses for working capital, growth, and expansion. SBIG grants are awarded to eligible Investors that have invested in eligible small businesses. They are not grants awarded to the small business that received the investment.