EDA i6 Challenge

The i6 Challenge is a new $12 million innovation competition administered by the Economic Development Administration (EDA) of the U.S. Department of Commerce, in partnership with the National Institutes of Health (NIH) and National Science Foundation (NSF). EDA will award up to $1 million to each of six winning teams with the most innovative ideas to drive technology commercialization and entrepreneurship in their regions. NIH and NSF will award a total of up to $6 million in supplemental funding to their SBIR grantees that are associated or partnered with the winning teams. We encourage entrepreneurs, investors, universities, foundations, and non-profits to participate in the i6 Challenge. The deadline for applications is July 15, 2010. For more information, email i6@doc.gov, check out our Frequently Asked Questions, and join the upcoming i6 Challenge conference call in June.

New rural small businesses program

Agriculture Secretary Tom Vilsack and U.S. Small Business (SBA) Administrator Karen G. Mills have announced that the two agencies have signed an agreement to encourage sustainable growth and development of rural small businesses. The announcement was made during the National Summit of Rural America, which gathered agricultural leaders, farmers, ranchers, community leaders, and residents of rural communities to share their vision and ideas that can help rebuild and revitalize rural America.

The agreement between the SBA and USDA is designed to reach out to people and places in rural areas and small communities with underserved financial needs. Prospective small businesses owned by minorities, women and veterans also are expected to benefit from this joint effort to encourage sustainable growth and development. USDA Rural Development's Rural Business Service will provide loan guarantees, loans and grants; the Small Business Administration will provide loan guarantees.

The MOU will remain in effect for three years. Under the agreement, USDA Rural Development and SBA will use their respective resources to provide small businesses in rural areas with loan guarantees and technical assistance to help build diverse and sustainable economies, reverse population decline, create and sustain jobs, and improve quality of life. The agreement is expected to:

• Improve opportunities for small businesses to start and grow;

• Improve coordination in the delivery and development of programs; and

• Increase the number of small business loans guaranteed by USDA and SBA.

News Release

Free Workshops Planned for Veteran-, Minority- and Women-Owned Small Businesses to Participate in Recovery Act Opportunities

The departments of General Services and Environmental Protection will hold free workshops in May to help veteran-, minority- and women-owned small businesses to identify potential business opportunities under the American Recovery and Reinvestment Act. Learn more.

Erie: Monday, May 24, 1 p.m. – 4 p.m., Gannon University Small Business
Development Center, 120 W. Ninth St

$200 million loan fund for small biz

[From Philanthropy Today] The banking giant Citigroup is teaming up with two nonprofit organizations on a $200-million loan fund for small firms in low- and moderate-income areas, The Washington Post writes.

Citigroup will put up $199-million for the Communities at Work Fund, with the rest coming from the Calvert Foundation, a nonprofit investment group, and the Opportunity Finance Network of community lenders. Calvert will manage the fund.

Youth Social Entrepreneurs

[From Philanthropy News Digest] Each year, YouthActionNet selects twenty young social entrepreneurs to participate in its Global Fellowship Program. Participants are chosen for the program based on their records of success in achieving positive change in their communities, their innovative approaches, and their ability to mobilize their peers and community members in support of their social change efforts.

The year-long fellowship program includes a seven-day leadership retreat, year-long skills-building programs and resources in leadership and organization management, and networking opportunities.

The program is open to all young people between the ages of 18 and 29 (as of September 1, 2010). Applicants must be the founder or co-founder of an existing organization, or a project within an organization, with a demonstrated one-year track record of leading societal change. Proficiency in English is required; applications must be submitted in English.

Applicants must be available to attend the program's full retreat, October 1-8, 2010, in Washington, D.C. (all expenses paid).

Visit the YouthActionNet Web site for complete program guidelines and an application form.

Contact:
Link to Complete RFP

Small biz and clean energy report

WASHINGTON – The Department of Energy today released a new report highlighting the benefits of the Recovery Act to small businesses throughout the clean, renewable energy industry and environmental management sector. The report found that as of early March 2010, small businesses have been selected to receive nearly $5.4 billion in funding across a number of Recovery Act and related programs, including loans, loan guarantees, grants, contracts and tax incentives, in partnership with the Department of Treasury. The report highlights 26 small businesses in a range of clean energy technologies, such as wind, solar, biofuels, along with critical new infrastructure, like Smart Grid, advanced batteries, energy storage, and energy efficiency tools. It also notes small businesses that are helping advance responsible environmental clean-up efforts.

Read the full report.

Scholarships for Federal careers

[From Philanthropy Today] The Robertson Foundation for Government is establishing a scholarship fund to encourage graduate students to pursue careers in federal service, The Washington Post reports.

The foundation, operated by heirs to the A&P supermarket fortune, will provide full financial support to students in the fields of national security, foreign policy, and international development who pledge to work at least three years for a federal agency within five years of graduating. The foundation will select four or five partner universities in the coming weeks, director Bill Robertson said.

The Robertson family was involved in a protracted donor-intent fight with Princeton University during the past decade over Princeton's use of a $35-million, 1961 gift intended to prepare students for careers in public service. The case was settled last year, with the university agreeing to pay some $60-million to the foundation.

Read a Chronicle of Philanthropy article about the Robertson/Princeton dispute.