Navigating US grant funding for startups
Entrepreneurs need more than an idea to launch a business and satisfy a pain point. They must be able to turn this idea into a feasible product or service that can be monetized. And unless you have an unlimited supply of resources in your back pocket, you aren’t going to get very far without funding. Funding is essential to small businesses, especially early stage startups.
We typically see early stage startups receive initial investments from private financial institutions or investment vehicles to create, build out, and scale product. But there are many other ways to win funding, like applying for small business grants.
In the US, there are both government and private small business grants available for founders to apply for. Small business grants are funds given to a business by an organization for a specific purpose. And unlike small business loans, grants don’t need to be repaid. Instead, they have restrictions on how you can use them.
Whether for the purpose growing and expanding your business or researching and developing new cutting-edge technology, everyone should know the ins and outs of US small business grants.
In this discussion, you will learn about the following:
- Private versus public grant funding options and navigating each
- Do’s and don’ts – managing the application process
- Experiences from entrepreneurs and benefits/challenges versus other early-stage funding option (bootstrapping, loans, angel investors)
Intended problem statements/panel questions:
- What is the difference between public and private funding? Advantages and disadvantages
- What does the grant application process look like? Smart tips? Multiple phases? Length?
- What are the best funding options for early stage startups and why?
- What was your funding experience like as an entrepreneur? If you were to do it over again, what changes would you make? Best resources?
- Ramona Cedeno, Founder and CEO at FiBrick
- Jenee Fortier, Directorof Grant Administration at Hello Alice
- Max Frischman, Director of Sales at Eagle Point Funding
- Mike Lee, the CEO of Fundica