Small business EDGE grant applications due March 31

Young Delaware companies in need of funding to help expand their business can now apply to compete for an Encouraging Development, Growth and Expansion grant from the Division of Small Business.

EDGE grant applications from promising early-stage businesses throughout Delaware will be accepted through 5 p.m., Friday, March 31.

Businesses that are fewer than seven years old and employ no more than 10 people are eligible to apply for an EDGE grant. In previous rounds, businesses were required to be fewer than five years old, but DSB chose to expand this guideline to provide more small businesses with the opportunity to apply for funding.

“We know that it may take a few years for some small businesses to get off the ground, especially the businesses in our STEM category,” said Regina Mitchell, DSB director. “By expanding the number of years that eligible EDGE grant applicants have been in business, we are hopeful that even more Delaware start-up companies will be able to take advantage of the opportunity to apply.”

EDGE grants are awarded through a competitive selection process. Five STEM-based companies can receive up to $100,000 for eligible expenses, while five Entrepreneur Class (non-STEM) businesses can receive up to $50,000.

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.

Finalists will pitch their grant proposals to a panel of expert judges. Winners will be announced in the summer.

“Delaware entrepreneurs are passion-driven individuals ready to either start or grow their small business,” said Jeff Bullock, secretary of state. “Our role is to encourage and support them by providing significant capital through the EDGE grants program so that they reach their highest potential.”

Since EDGE launched in 2019, $4.3 million has been awarded to 70 promising Delaware small businesses in industries ranging from renewable energy technology to fitness centers to restaurants. This will be the seventh round of the program since its launch. For eligibility requirements, to download the grant application, and to connect with a regional business manager, business leaders can go to business.delaware.gov.