From projects that increase access to capital to resources that increase disaster preparedness and relief, the Minority Business Development Agency is in search of innovative ideas that will benefit minority-owned businesses and will award up to $11.65 million in grants to fund and implement the projects across the country.
This year, the MBDA is including categories for formerly incarcerated persons and research projects to quantify and address the needs and challenges of minority businesses. “Recognizing the critical role of entrepreneurship in reducing recidivism and unemployment for released prisoners, the Agency saw an opportunity to support the Department of Commerce’s efforts to reduce crime, enhance public safety and improve the lives of all Americans through educational entrepreneurship programs,” MBDA said in a news release.
“We are excited to begin this year’s application process and look forward to receiving the proposals,” said Acting National Director Edith McCloud. “Minority-owned businesses contribute greatly to our economy, and through the BAA, we can work to meet the needs of this community with the ultimate goals of continued expansion, growth and job creation.”
Through its Broad Agency Announcement (BAA), which is designed to solicit proposals, the search is open to for-profit entities including sole-proprietorship, partnerships, limited liability companies, and corporations), non-profit organizations, institutions of higher education, commercial organizations, individuals, state and local government entities, or Indian Tribal governments.
The focal points of the BAAs are aligned with the Agency’s key priorities in support of minority-owned businesses. Priorities include:
- Access to Capital American Indian, Alaska Native, Native Hawaiian Entities and/or Initiatives
- Disaster Readiness
- Disaster Recovery
- Entrepreneurship Education Program for Formerly Incarcerated Persons
- Global Minority Women Economic Empowerment Initiative
- Historically Black Colleges & Universities Initiative
- Inclusive Infrastructure Initiative
- Space Commerce
- Sustainable Business Model
- Technology Transfer and Commercialization
- Virtual Business Centers
Two pre-application teleconferences to educate potential applicants about the federal funding opportunity announcement are scheduled for June 18 and 21 from 2:00 – 3:00 p.m. eastern time. Applicants are encouraged to attend at least one of the pre-application teleconferences.
Deadline to submit completed applications for the broad agency announcement ends July 11 at 11:59 p.m. For more information and to register for a pre-application teleconference visit www.mbda.gov/page/2018-mbda-broad-agency-announcement or www.mbda.gov.