ED22HDQ0240138
Project Grant
Overview
Grant Description
Purpose: This project aims to increase the capacity of Next-Generation Battle Creek Food Reimagined Investors (NEXT-GEN BCFRI) to vet, validate, and make critical seed and angel investments in compelling Western Michigan innovation-based, early stage, high-growth food manufacturing companies.
Activities to be performed: Specific proposal objectives are to (1) recruit and train new angel investors; (2) provide a path into pre-seed, and seed fund investment for trained individuals from diverse backgrounds; (3) increase the pool of trained angel investors for seed funds regionally; (4) increase access to capital for technology-enabled food processing entrepreneurs in the Midwest region by exposing new funds and fund managers to regional investment opportunities; and (5) use existing training sources and the statewide capital network for leverage.
Expected outcomes: High-level goals for this project are three-fold: (1) develop a training program and investment network of angel investors; (2) increase the availability of capital for early stage food manufacturing companies; and (3) foster innovation and economic growth in the Western Michigan region.
Activities to be performed: Specific proposal objectives are to (1) recruit and train new angel investors; (2) provide a path into pre-seed, and seed fund investment for trained individuals from diverse backgrounds; (3) increase the pool of trained angel investors for seed funds regionally; (4) increase access to capital for technology-enabled food processing entrepreneurs in the Midwest region by exposing new funds and fund managers to regional investment opportunities; and (5) use existing training sources and the statewide capital network for leverage.
Expected outcomes: High-level goals for this project are three-fold: (1) develop a training program and investment network of angel investors; (2) increase the availability of capital for early stage food manufacturing companies; and (3) foster innovation and economic growth in the Western Michigan region.
Awardee
Grant Program (CFDA)
Awarding / Funding Agency
Place of Performance
Battle Creek,
Michigan
49037-7345
United States
Geographic Scope
Single Zip Code
Related Opportunity
None
Battle Creek Unlimited was awarded
Project Grant ED22HDQ0240138
worth $147,750
from Economic Development Administration in November 2022 with work to be completed primarily in Battle Creek Michigan United States.
The grant
has a duration of 2 years and
was awarded through assistance program 11.024 BUILD TO SCALE.
$160,000 (52.0%) of this Project Grant was funded by non-federal sources.
Status
(Complete)
Last Modified 10/4/22
Period of Performance
11/1/22
Start Date
10/31/24
End Date
Funding Split
$147.8K
Federal Obligation
$160.0K
Non-Federal Obligation
$307.8K
Total Obligated
Activity Timeline
Additional Detail
Award ID FAIN
ED22HDQ0240138
SAI Number
ED22HDQ0240138_000
Award ID URI
SAI EXEMPT
Awardee Classifications
Nonprofit With 501(c)(3) IRS Status (Other Than An Institution Of Higher Education)
Awarding Office
1331K5 DEPT OF COMMERCE EDA
Funding Office
1331K5 DEPT OF COMMERCE EDA
Awardee UEI
MU7EGYXHZ2Z3
Awardee CAGE
84Z45
Performance District
03
Senators
Debbie Stabenow
Gary Peters
Gary Peters
Representative
Hillary Scholten
Budget Funding
| Federal Account | Budget Subfunction | Object Class | Total | Percentage |
|---|---|---|---|---|
| Economic Development Assistance Programs, Economic Development Administration, Commerce (013-2050) | Area and regional development | Grants, subsidies, and contributions (41.0) | $147,750 | 100% |
Modified: 10/4/22