5 Best Startup Grants in the USA

Startup Grants in the USA

Millions of people wish to own a business, but only a few fulfill this wish. Some drop the idea because they feel it is too risky, while some say no because they don’t have money.

If you, too, wish to start a small business or a startup but don’t have money, you should read this post about startup grants. Before we move further, let’s discuss a startup.

What is a Startup

A startup is a company in its early stages of operations that is focused on developing a unique product or service and bringing it to market.

The goal of a startup is to promote creativity and the rapid development of ideas. However, to achieve this goal, startups need additional funding beyond the money invested by the owners.

Startup grants are financial awards given to entrepreneurs to help fund their startups. They are often provided by government entities, foundations, or corporations. The free money can be used to fulfill the business’s basic requirements and expand. Let’s discuss the best startup grants.

It is called free money because you don’t have to return it once your purpose gets fulfilled. However, startup grants are difficult to obtain as you must convince the grant giver.

Here are the 5 Startup Grants in the USA

1. Small Business Innovation Research Grant (SBIR)

The Small Business Innovation Research grant program is highly competitive. It is to help small businesses and startups to engage in federal research and development.

This program enables startups to explore their technological potential, develop innovative products, and make life easier.

Eligibility Requirements for Small Business Innovation Research Grant:

Only United States businesses are eligible to apply for this grant
An organized for-profit with a place of business in the United States
The business must be at least 51% owned and controlled by one or more individuals who are U.S. citizens or permanent residents.
The business must not employ more than 500 employees (including affiliates)

For more information, visit www.sbir.gov.

2. National Association for the Self-Employed (NASE) Growth Grants

The NASE growth grants are small business grants available for small businesses and startups. The funds issued under this grant can be used for marketing, training, investment in hardware and software, and anything that pushes growth.

This grant is available every quarter, and the organization has awarded nearly $1 million in funding until now. Up to $4,000 can be funded. However, you must be a NASE member to apply for this grant.

Selection Criteria for Evaluating NASE Grant Applications:

Review of identifiable business needs
Detailed use of the funds of the grant
The potential impact of the funding on the overall business growth and success
The potential of the funding to satisfy the identified business need

For more information, visit www.nase.org.

3. Small Business Technology Transfer (STTR) Grant

The Small Business Technology Transfer is a research and development grant for small businesses and startups.

The Small Business Technology Transfer grant is somewhat similar to the Small Business Innovation Research grant; however, the latter has different eligibility requirements.

Eligibility Requirements for Small Business Technology Transfer Grant:

The small business and the research institution must establish an intellectual property agreement detailing allocating intellectual property rights and rights to carry out follow-on research, development or commercialization activities.
Small businesses must perform at least 40% of R&D, and single-partnering research institutions must perform at least 30% of R&D.
Depending on the grant and the project’s requirements, the principal investigator can be primarily employed by either the small business or the partnering research institution.

For more information, visit www.sbir.gov/STTR.

4. FedEx Small Business Grant

The FedEx small business grant can be an option for small business owners and startups seeking funding to expand their operations.

The organization offers more than $250,000 to small businesses and startups annually. Business owners can get funding of $15,000 to $50,000.

The FedEx small business grant application opens in February, so you can apply during that period to get this funding.

For more information, visit www.fedex.com.

5. Caleb Brown Urban Excellence Community Grant

The Caleb Brown Urban Excellence Community grant is a business grant for entrepreneurs running startups or providing training and jobs in different fields.

The Caleb Brown Venture Capital and Consulting Project offer urban entrepreneurs with promising startup funding and valuable consulting services to help them grow their businesses. However, the exact number of consulting hours may vary.

Conclusion: Owning and running a business is every entrepreneur’s dream. This post provides information about startup grants, which can be used to get funding for your startup or small business.

Furthermore, each grant description has a website link for more information about the grant.

Grants for Medical