DSB Asks Sussex Small Businesses to Apply for EDGE Competition
The Delaware Division of Small Business (DSB) is hoping that promising early-stage Sussex County businesses will be interested in some grant funding to help them start or grow. The Fall 2023 Encouraging Development, Growth and Expansion (EDGE) program application period is now open through Sept. 29. DSB is accepting applications until 4 p.m. that day for this bi-annual initiative.
EDGE is a competition for grant funding. Five STEM-based companies can each receive up to $100,000 for eligible expenses while five Entrepreneur Class (non-STEM) businesses can each receive up to $50,000. This round, DSB is hoping to see a greater number of STEM applications coming from Kent and Sussex counties.
Businesses that are less than seven years old and employ no more than 10 employees are eligible to apply for an EDGE grant. Applicants already in business must have a physical location, where the majority of their operations are conducted, in Delaware. Don't have a business yet but are looking to start one? You're still eligible - but your primary location must be in the First State.
“We’re proud to be able to offer this opportunity to early-stage small businesses,” said DSB Director Regina Mitchell. “It’s a way to help level the playing field for those that don’t have access to the same level of capital that larger businesses do.”
Businesses should visit de.gov/edge for eligibility requirements, to download the grant application, supporting proposal templates, and to see frequently asked questions. They can also see recordings of the EDGE informational webinar, and webinar on how to use DSB's free business analytics and marketing tool, SizUp Delaware. Potential applicants are highly encouraged to connect with a Regional Business Manager for application assistance.
EDGE is a matching grant program. DSB matches a winning business’s investment on a 3-to-1 basis. The business can spend grant funds on expenses that help improve the company’s long-term chances of success, such as a marketing campaign to help acquire more customers or purchasing a needed piece of equipment that can increase production capacity.
Applications for the competition round will be accepted until Sept. 29 at 4 p.m. After several rounds of internal scoring, finalists will be invited to pitch their grant proposals to a panel of expert judges at the end of November. Winners will be notified in early December.
Since EDGE launched in 2019, $5.0 million has been awarded to 80 promising Delaware small businesses in industries ranging from renewable energy technology to fitness centers to restaurants. This will be the eighth round of the program since its launch.
To learn more about the Division and its programs, visit business.delaware.gov.
