Small businesses are the backbone of the economy, and in 2023, grants will be instrumental in helping them thrive. The challenge is finding the right grant to apply for. To that end, we have compiled a list of the top 5 small business 2023 grants that entrepreneurs should be aware of.
1. SBA Small Business Innovation Research Grant
The Small Business Administration (SBA) provides the Small Business Innovation Research (SBIR) Grant to small businesses that have a promising technology that can be commercialized. The grant is highly competitive, but it offers up to $1.5 million in funding to small businesses in the research and development phase.
2. The USDA Rural Business Development Grant
The United States Department of Agriculture (USDA) Rural Business Development Grant is available to small businesses in rural areas with less than 50 employees. The grant provides funding for training, technical assistance, and economic development planning.
3. National Science Foundation Small Business Technology Transfer Grants
The NSF Small Business Technology Transfer (STTR) grant is designed for startups and other small businesses that are engaged in research and development of innovative technology. The grant provides up to $1 million in funding over a period of two years.
4. NASA Small Business Innovation Research Program
The National Aeronautics and Space Administration (NASA) provides the Small Business Innovation Research (SBIR) grant to businesses with innovative ideas and potential to meet NASA’s research needs. The grant offers funding up to $1.5 million over a period of two years.
5. The Economic Development Administration i6 Challenge
The Economic Development Administration (EDA) i6 Challenge grant is designed to support programs that foster innovation and commercialization of technology. The i6 Challenge offers up to $1 million in funding for programs that can generate economic growth and spur job creation.
In conclusion, small businesses have many grant options available to them. The grants listed here are just a few of the top possibilities for small businesses in 2023. Entrepreneurs should research and investigate all of their options to determine which grant is the best fit for their needs. With the right grant, small businesses can receive the funding they need to succeed and grow.
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