U.S. Department of Commerce - Minority Business Development Agency (MBDA)
06/30/21 11:59 PM EST Receipt
Cooperative agreement to a USA and territories nonprofit organization, for-profit, IHE, or state, local, or tribal government entity for innovative projects that promote business growth for Minority Business Enterprises (MBEs). Applicants are advised that required registrations must be completed prior to applying. The project aims to create a more diverse economy and drive economic prosperity for minority business leaders through capacity building, venture capital readiness, access to equity and venture investment and investors, and job creation.
The Minority Business Development Agency (MBDA) Minority Business Enterprise (MBE) Equity Multiplier Project will facilitate technical assistance to MBEs related to accessing capital. MBDA is authorized pursuant to Executive Order 11625 to provide financial assistance to public and private organizations so that they may render technical and management assistance to minority business enterprises and defray all or part of the costs of pilot or demonstration projects conducted by public or private agencies or organizations that are designed to overcome the special challenges of minority business enterprises.
MBDA leads Federal Government efforts to promote the growth and global competitiveness of MBEs. MBDA has established key priorities designed to overcome the unique challenges faced by MBEs. The primary drivers of this project are (i) capacity building and venture capital readiness, (ii) increasing access to equity and venture investment and investors, (iii) technical business services; and (iv) job creation. This program supports competitive proposals that seek to support entrepreneurship and accelerate MBE growth nationally via technical assistance for equity investment. Competitive proposals will outline how the project will strengthen economic competitiveness through increasing the flow of equity capital to minority communities and leverage the strengths of partnerships to help create new enterprises, commercialize technology, and create jobs.
This program is intended to provide direct technical assistance to MBEs that receive or are seeking equity investment or a hybrid model of investment; applicants to this BAA will provide technical assistance to MBEs, including, for example: evaluation of companies with high growth as a central factor of their investment strategy; technical business services and investor engagement activities; Form D filings; investment materials, such as CIM (Confidential Information Memorandums), pitch decks, financial models, company profiles, financial related legal support, financial/equity agreements, term sheets and closing documents, due diligence, market analyses, valuations; customer acquisitions; business acquisitions; merger assistance; technology and location identification; e-commerce; and other investor readiness tools. This program leverages community resources and investment and maximizes opportunities for the development of emerging, high growth minority entrepreneurs in a myriad of industries.
GrantWatch ID#: 196670
MBDA anticipates awarding approximately one (1) individual cooperative agreement.
MBDA will issue an award for a two-year term, to be funded one year at a time, from September 1, 2021 through August 31, 2023. Funding for the second year is contingent upon satisfactory performance in the prior year (Year 1) based on proposed goals and maintenance of program priorities.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
Prospective applicants may contact:
Ms. Nakita Chambers
MBDA Program Manager
U.S. Department of Commerce
**Due to the Agency’s maximum telework posture, applicants should notify the Agency Contact via telephone or email (not mail).
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