Nonprofits are key players in the startup ecosystem. They provide seed funding, mentorship and guidance, and relationships that are vital to future success.
However, not every nonprofit is created equal when it comes to offering startup support; some turn out to be more supportive than others. Hence, it is crucial for your startup to search diligently among nonprofit startup grants and find the one that fits your mission and stage of development.
In addition, it is important to check carefully the criteria of such nonprofit startup grants and see how you can increase your chances of success. In this article, we introduced a number of grants for women entrepreneurs and today we focus mainly on nonprofit startup grants.
So if you’re an entrepreneur looking for a non-profit organization that can help your startup thrive, read on! We will introduce below top 10 grants that can help your startup get off the ground.
1 & 2. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)
SBIR and STTR are two of the oldest and most established federal grant programs for small business research and development (R&D). These programs provide seed funding to promising new inventions from outside the typical start-up ecosystem.
SBIR funds are provided through the Department of Defense (DoD) and STTR funds are provided through the Department of Commerce. SBIR and STTR grants have been around for more than 30 years as governmental or in a way, nonprofit startup grants.
These programs were established to encourage innovative new technologies that could benefit the nation’s economy. The programs are open to both for-profit and not-for-profit entities.
However, SBIR-funded research must contribute to the defense or economic welfare of the United States that should be taken into account for interested startups.
3. US Economic Development Administration (EDA) Grants
The EDA supports various programs created to aid firms post-covid, as well as a number of grants that are sponsored on a state-by-state basis and broken down by industry.
Depending on the kind of business you have, the EDA offers a variety of funding possibilities. The EDA grants, for instance, provide money for tourism and outdoor recreation, help with statewide planning, and financial assistance for struggling firms, in addition to other pitching and entrepreneurial challenges you can take part in.
Direct application is available on their website.
The grant amounts range from $5,000 to $100,000, and are awarded on a competitive basis.
4. Rural Business Development Grants
Rural areas face unique challenges and challenges that are different than those faced by suburban and urban areas. Depending on the grant category of your nonprofit startup grants, you may be eligible for a Rural Business Development grant from the USDA’s Rural Development Program.
Numerous subsidies offered by the US Department of Agriculture are intended for small rural enterprises with less than 50 employees and annual revenue of $1 million.
Based on your company plan, you can apply for a variety of grants (such as whether you plan to use the money for training or technical assistance, acquisition of land or machinery, or community economic development).
However, you must somehow show how rural cities or towns would profit from your initiatives. Grants can be as high as $500,000.
5. National Institute of Health (NIH) Grants
If your startup aligns well with a specific area of research, you may be eligible for one of the NIH’s many grant programs.
The NIH Grants & Contracts office offers a variety of grant programs for the purposes of: fostering innovation in health care, supporting research that could lead to breakthroughs in disease prevention, treatment, and cures, and advancing scientific disciplines, including life sciences, physical sciences, mathematics, and social sciences.
The National Institute of Health supports a number of awards throughout the year for biotech, scientific, or pharmaceutical enterprises. On their website, you can look for research fellowships, grants, and other tools for professional growth.
6. FedEx Small Business Grant Contest
FedEx recently announced that they would offer $500,000 in small business grants to entrepreneurs across the country. The contest is open to all US-based small businesses and startups, and winners are selected by a panel of experts.
The stakes are high for FedEx’s small company competition with 3 grand prize winners taking home $50,000 apiece and 7 first-place winners earning $20,000.
Winners also get free software subscriptions, website audits, and other tools like financial or packaging counseling in addition to the cash prize.
7. Visa Everywhere Initiative
This is one of the nonprofit startup grants thorough which Visa tends to encourage more small businesses to accept credit cards, and to provide greater access to credit while reducing costs.
The Visa competitive grant program, which gives over $500k in total awards, is open to fintech startups. Eligible startups include those working with blockchain, bitcoin, digital wallets, alternative lending, merchant services and retail technologies, and more.
Five regional finalists are chosen by Visa, who pits them against one another in the global finals competition.
8. Amber Grant for Women
In order to provide awards to female entrepreneurs, the Amber Grant Foundation was established in 1998. Since then, the organization has given a woman-owned business $10,000 each month.
You can vote on their website to choose your favorite business for the final round, and one of the initial twelve winners will get an additional $25,000 prize. Through this chance, you can make money to expand your business and establish yourself as a powerful female leader and entrepreneur.
If you would like to apply, these are the things they will want to know about you and your business. Each month’s deadline must be met in order to be taken into account the following month.
More details on this and other nonprofit startup grants dedicated to women entrepreneurs can be found in this blog post.
9. Second Srvice Foundation
The mission of the Second Service Foundation, a 501(c)(3) nonprofit organization that was originally known as the StreetShares Foundation, is to encourage, inform, and assist the military business community.
The Second Service Foundation’s programs, which were introduced on Veterans Day 2016, give military community entrepreneurs across the country access to funding options, instructional materials, mentors, coaching, and networking opportunities.
Veterans who lack the resources to launch or expand their small enterprises can get a boost of much-needed financial support from our grant program, the Military Entrepreneur Challenge.
The Second Service Foundation is encouraging military community entrepreneurs to expand their enterprises, provide employment, and increase their social impact on the military community through the Military Entrepreneur Challenge.
So far, their nonprofit startup grants have educated more than 10,000 entrepreneurs in the US.
10. The Barstool Fund
You can submit your application at this link if you are a small business owner in need of assistance as a result of COVID’s effects.
They have been actively supporting startups through the covid crisis but are stopping their fundraising efforts even though COVID-19 is still having an impact on communities and small companies. They will continue to help individuals who are still in need.
Donors of this fund has contributed more than $35 million to support more than 600 small companies.
COVID-19’s severe effects are finally starting to lessen, and The Fund is getting ready to switch gears for its upcoming important mission.
Conclusion
Nonprofit startup grants are key funding methods in the startup ecosystem. They provide seed funding, mentorship and guidance, and relationships that are vital to future success.
However, not every nonprofit is created equal when it comes to offering startup support; some turn out to be more supportive than others.
So if you’re an entrepreneur looking for a non-profit organization that can help your startup thrive, read on! This article will cover five of the top grant programs available for nonprofits seeking to help entrepreneurs launch their new ventures.
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