Calling Sussex County Small Business to Apply for 2024 EDGE Grant

Are you the owner of a very small business in Sussex County? Have you been in operation for less than 7 years? Or maybe you aren’t in business yet but want to be, but you just don’t have the capital to get off the ground. Access to funding is one of the things that most startup and early-stage very small businesses say is one of the hardest things to come by, and one of the most critical needs they have.

The Delaware Division of Small Business (DSB) is helping many overcome this hurdle through its Encouraging Development, Growth and Expansion (EDGE) Program.

EDGE is a competition for grant funding. Five STEM (or tech-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. Since the program launch in 2019, DSB has awarded $5.6 million to 90 small businesses.

DSB begins accepting applications for the first round of the 2024 EDGE Grant Competition Feb. 1. The application period closes March 1, 2024. The application and required support materials along with recordings of webinars held in January, and FAQs can be found at de.gov/edge.

DSB is hoping to see more qualified Sussex County businesses apply, particularly in the STEM category. Since the beginning, just 12 award winners have been from Sussex, compared to 19 in Kent and 59 in NcCo.

To be eligible to apply for the EDGE competition, your small business must have been in operation for less than seven years (start-ups are eligible) and have 10 or fewer full-time or FTE employees (part time). Potential applicants are highly encouraged to connect with a Regional Business Manager for help with their applications.

“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.”

Small business owners can apply for funding to support expenses that help improve the company’s long-term chances of success and sustainability, such as purchasing needed equipment that can increase production capacity, improving building infrastructure, or contracting for website design or a marketing campaign to help acquire more customers. DSB matches a winning business’s investment on a 3-to-1 basis.

Past awardees have included a drone company in need of an indoor facility, a company developing a new product for next generation silicon solar cells, an outdoor beer garden, and an electrical company.

DSB operates the EDGE competition twice each year. After each round’s application closing date and a few rounds of internal evaluation, 16 finalists will pitch their grant proposals to a panel of expert judges four to six weeks later, and 10 winners will be notified soon after. A public awards ceremony takes place in the following weeks, though the winners names are kept tightly under wraps until then. If you are interested in learning more about EDGE or any of the services and programs the Division of Small Business offers, visit us at business.delaware.gov.