Small business EDGE grant webinar set Sept. 8

The Division of Small Business is now accepting applications for EDGE grants, an innovative, competitive program to provide young Delaware companies with funds to help them expand their business.

Promising early-stage companies from throughout Delaware in need of funding to help expand their business may apply to compete for an Encouraging Development, Growth and Expansion grant  through Friday, Sept. 30.

Businesses that are fewer than five years old and employ no more than 10 people are eligible to apply for EDGE grants, which 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-based businesses can receive up to $50,000.

EDGE is a matching grant program. The Division of Small Business matches a winning business’s investment on a 3-to-1 basis.

The business can spend the money on expenses that help improve the company’s long-term chances of success, such as developing a marketing campaign to help acquire more customers or purchasing a needed piece of equipment that can increase production capacity.

An informational webinar on the EDGE application process is set for 10 a.m., Thursday, Sept. 8. Small business owners interested in applying for the grant competition can register for the webinar at business.delaware.gov/edge. Preregistration is required.

“Delaware has an amazing community of entrepreneurs who stake their future on following their passion and starting their own business,” said Secretary of State Jeff Bullock. “By providing significant capital to these early-stage companies, the State of Delaware is able to help them reach their potential, and show their owners that we value their efforts in starting and growing their businesses here in the First State.”

“The EDGE grant program has been very popular with Delaware small business owners, because these grants have helped promising small companies in a variety of industries reach the next level and compete with larger companies,” said Regina Mitchell, Division of Small Business acting director. “I encourage eligible small business owners interested in the program to reach out today to one of our regional business managers for help with the application process.”

One of the businesses that previously received funding is Hartlon. The company developed a bioresorbable vascular stent that is designed to eliminate pain, non-healing sores, and risk of limb amputation caused by poor blood flow below the knee. Hartlong was awarded a $100,000 STEM EDGE grant in the last round of funding. The company is using its grant for setting up a med-tech scientific advisory board, laboratory space, manufacturing services and demonstration of performance with a preclinical study.

“Winning the EDGE grant competition will be crucial in helping our company reach patients who can benefit the most from the life-changing healthcare technology we have developed,” said Jack Scanlon, co-founder of Hartlon. “We are grateful that the State of Delaware recognizes small, growing companies like ours and offers programs like the EDGE grant competition to help us reach our full potential.”

Since EDGE launched in 2019, $3.75 million has been awarded to 60 promising Delaware small businesses in industries ranging from renewable energy technology to fitness centers to restaurants. This will be the sixth round of the program since its launch. Finalists in this round will pitch their grant proposals to a panel of expert judges, with winners announced in the winter.