Community is our competitive advantage.

Welcome to the Ecosystem Builder's Edge. The month of May is devoted to helping you overcome the biggest barrier to creating impact as an ecosystem builder: funding. Over a 4 part email series and a special webinar in partnership with EcoMap, you'll learn how to unlock strategic funding opportunities to meet the needs of your community. Follow along and RSVP for the webinar below!

Demystifying Federal Funding Opportunities

Ecosystem builders play a crucial role in supporting innovation and entrepreneurship in our communities. This work involves creating and nurturing a vibrant ecosystem that provides the necessary resources and opportunities for innovators. One of the key requirements for this role is access to funding. We will explore the different federal funding opportunities available for ecosystem builders and how you can strategically secure funding to support your initiatives.

The federal government offers a wide range of funding programs for ecosystem building initiatives, primarily for non-profits, state/local governments, and research institutions. These programs often focus on areas such as healthcare, education, infrastructure, and economic development. Federal funding can be a significant source of support for ecosystem builders, providing the necessary resources to turn their ideas into reality.

Top Federal Funding Agencies for Ecosystem Builders

As an ecosystem builder, there are three primary agencies to build awareness of and a few others to sprinkle in.

US Economic Development Administration (EDA)
US Small Business Administration (SBA)
National Science Foundation (NSF)

Other agencies fund programs you may be interested in including the Department of Energy, Department of Labor and Department of Defense.

I've created a small database of federal funding opportunities for ecosystem builder's that I'm sharing just for Ecosystem Builder's Edge readers. Access the database here.

What is Federal Matching?

Federal grants often require matching funds, which means that the recipient organization must contribute a portion of the project costs from non-federal sources. This ensures that the organization has a vested interest in the project's success and demonstrates its ability to leverage additional resources. Depending on the period of performance for the grant, your matching funds will need to span the same time period and be available at the same pace you use the federal funding.

The matching requirement can vary depending on the specific grant program, but it typically ranges from 10% to 50% of the total project cost. For example, if a grant program requires a 20% match and the total project cost is $100,000, the recipient organization would need to document a contribution of $20,000 from its own funds or other non-federal sources such as local government, foundation or revenue resources, while the federal grant would cover the remaining $80,000.

Matching funds can come from various sources, including cash contributions, in-kind contributions (e.g., donated equipment, services, or facilities), and program income generated by the project itself. Typically you would aim for at least 50% of your match to come from cash and the remaining 50% can come from in-kind support. It's important to carefully review the specific matching requirements for each grant program and plan accordingly to obtain match commitment letters from your partners.

I'm new to Federal Grants, where do I start?

If you're new to federal grants, it's essential to understand the process and develop a strategic approach. Here are some steps to help you get started:

Identify Relevant Grant Programs: Conduct thorough research to identify grant programs that align with your organization's mission, goals, and initiatives. Utilize resources such as Grants.gov, agency websites, and funding databases to explore available opportunities.
Use the Ecosystem Builder's Edge list to get you started: Access the database here.
Understand Eligibility Requirements: Carefully review the eligibility criteria for each grant program, including the types of organizations that can apply, project focus areas, and any specific requirements or restrictions. You'll want to complete any required registrations such as Sam.gov at least 12 weeks prior to the submission deadline.
Develop a Grant Proposal Template: Create a grant proposal template that clearly outlines the required sections, font sizes, page length and other formatting instructions. Begin filling in your organization's boilerplate language on objectives, activities, timeline, budget, and expected outcomes. Ensure that your proposal addresses the specific requirements of the grant program and adapt your language to match that used in the request for proposal. Include any scoring criteria or evaluation rubric information as comments on each section to ensure you address them directly.
Build Partnerships and Collaborations: Collaboration can strengthen your grant application and increase your chances of success. Identify potential partners, such as other organizations, academic institutions, or community groups, that can contribute expertise, resources, or support to your effort. Consider that someone else may be a better lead organization and you can support as a sub-awardee, especially if you are new to grants. This is a great way to learn the process!
Attend Grant Writing Workshops or Seek Assistance: Consider attending grant workshops or seeking assistance from experienced grant writers or consultants. They can provide valuable guidance on the grant application process, proposal development, and best practices. I offer this service and love helping first time applicants learn the process.
Monitor Deadlines and Submit Applications on Time: Pay close attention to application deadlines and submission requirements. Allow sufficient time for proposal development, review, and submission to ensure a well-prepared and timely application.
Stay Up-to-Date on Changes and Announcements: Monitor agency websites, newsletters, and announcements for updates on grant programs, changes in requirements, and new funding opportunities.

While federal grants can provide significant support, it's important to develop a sustainable funding strategy that incorporates diverse revenue streams. Consider exploring additional funding sources such as private foundations, corporate sponsorships, individual donors, and revenue-generating activities. By diversifying your funding sources, you can reduce the risk of becoming overly reliant on a single source and ensure long-term financial stability for your ecosystem building initiatives.

Stay tuned for the next installment of the Ecosystem Builder's Edge, where we'll dive into these complementary sources of funding.

Struggling to secure funding for your ecosystem? Join Amy Beaird & EcoMap for a FREE webinar on May 15th at 12pm EST! Learn to define your funding strategy, explore current opportunities, find diverse sources, and write winning applications. Register now.