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Introduction
Small business grants are a vital resource for entrepreneurs looking to start or expand their operations in Delaware. These grants provide financial assistance without the burden of repayment, enabling businesses to invest in growth, innovation, and sustainability.
Types of Grants Offered in Delaware
Delaware offers a diverse range of small business grants aimed at fostering economic development and innovation. These grants are designed to support businesses across various industries, including technology, manufacturing, and green initiatives.
Innovation Grants
These grants support businesses that are developing new technologies or innovative products. One notable program is the Delaware Innovation Space, which provides funding and resources for science-based startups. The Delaware Bioscience Center also offers grants and lab space for biotech companies.
Growth Grants
Targeted at businesses looking to expand their operations or enter new markets, the Delaware Division of Small Business offers EDGE Grants (Encouraging Development, Growth & Expansion). These grants provide up to $100,000 for eligible small businesses to support growth initiatives.
Sustainability Grants
Aimed at businesses implementing eco-friendly practices or developing sustainable products, Delaware's Green Energy Program, managed by the Delaware Department of Natural Resources and Environmental Control (DNREC), offers incentives and grants for renewable energy projects and energy efficiency improvements.
Community Development Grants
Designed to support businesses that contribute to community revitalization and development, the Delaware Main Street Program offers grants to small businesses located in downtown areas. This program aims to enhance economic growth and preserve the historic character of these areas.
Identifying and Applying for Grants in Delaware
Identifying the right grant for your business requires thorough research and an understanding of your business needs and goals. Begin by exploring state and local government websites, as well as private organizations that offer grant funding. Key resources include the Delaware Division of Small Business, the Delaware Economic Development Office, and the DNREC. Once you've identified potential grants, carefully review the eligibility criteria and application requirements. Remember: subsidies aren't just handed out, they are thoughtful programs developed to achieve a certain type of economic development. So before selecting the right subsidy for your company, make sure you know how your business matches the desired outcome the granting authority is looking to achieve.
Table of Small Business Grants in Delaware
| Program/Grant Name | Description | Target Audience | Application Period | Granting Authority |
|---|---|---|---|---|
| Delaware Innovation Fund | Provides seed funding for startups in tech and biotech | Tech and biotech startups | Varies | Delaware Economic Development Office (DEDO) |
| EDGE Grants | Supports early-stage businesses with high growth potential | Early-stage, high-growth potential firms | Biannual | DEDO |
| Brownfields Grants | Funds redevelopment of contaminated properties | Businesses redeveloping brownfields | Annual | Delaware Department of Natural Resources and Environmental Control (DNREC) |
| Main Street Program | Grants for downtown revitalization projects | Small businesses in downtown areas | Rolling | Downtown Delaware Program |
| Green Energy Program | Incentives for renewable energy projects | Small businesses implementing green energy | Quarterly | DNREC |
Local Grants in Specific Delaware Cities
In addition to state-wide grants, several Delaware cities offer local grants to support small businesses and community development:
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- Wilmington Strong Fund: Provides grants to small businesses impacted by economic downturns, especially those affected by the COVID-19 pandemic. This fund helps businesses maintain operations and retain employees.
- Downtown Development Districts (DDD) Program: Offers grants and rebates for businesses located in designated downtown areas to stimulate investment and economic growth. The Wilmington Downtown District is a key beneficiary of this program.
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- Dover First Start Business Grant: Targeted at new small businesses, this grant offers financial assistance to help cover startup costs, including marketing, equipment, and initial inventory.
- Dover Community Partnership Grants: These grants support local businesses that contribute to community development and revitalization efforts in Dover’s downtown area.
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- Newark Small Business Recovery Grants: Aimed at helping businesses recover from the impacts of the COVID-19 pandemic, these grants provide funding for operational expenses, marketing, and adaptation to new business models.
- Newark Downtown Business Grant: Supports businesses located in the downtown area with grants for facade improvements, signage, and interior renovations to enhance the aesthetic appeal and functionality of business premises.
Additional Insights
Successful grant applications often hinge on meticulous preparation and a clear demonstration of how the funds will be utilized to achieve business goals. Networking with other business owners, attending grant workshops, and seeking advice from business development centers like the Delaware Small Business Development Center (SBDC) can provide valuable insights and enhance your application.
FAQs on Small Business Grants in Delaware
Q: What types of businesses are eligible for grants in Delaware? A: Eligibility varies by grant but generally includes startups, small businesses, and businesses engaged in innovation, sustainability, and community development.
Q: How competitive are small business grants in Delaware? A: Grant competitiveness varies; some grants are highly competitive due to limited funds, while others may have less stringent requirements.
Q: Can I apply for multiple grants simultaneously? A: Yes, businesses can apply for multiple grants as long as they meet the eligibility criteria for each.
Getting Support
Numerous resources are available to help businesses in Delaware navigate the grant application process. Local Small Business Development Centers (SBDCs), the Delaware Economic Development Office, and business incubators offer guidance and support.
For more information, visit the Delaware Economic Development Office, Delaware Department of Natural Resources and Environmental Control, and Downtown Delaware Program.
How Scout Can Help Companies Apply for and Win Grants/Incentives
Scout provides expert guidance to businesses seeking grants, helping them identify suitable opportunities, prepare compelling applications, and comply with grant requirements. With a deep understanding of the grant landscape in Delaware, Scout can streamline the application process and increase the chances of success. Reach out to Scout to learn more and maximize your funding opportunities.
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