The MBDA Capital Readiness Program seeks applicants who will help close the gaps in entrepreneurial opportunities for socially and economically disadvantaged individual (SEDI) entrepreneurs and help unleash a new era of business growth, hiring, and wealth. This notice requests applications from qualified organizations that have the expertise to provide technical assistance for entrepreneurs starting or scaling their businesses who are seeking various forms of capital.
The competition seeks applicants and proposals that will design and offer activities or services that address 3 core program pillars - Capacity Building, Access to Capital, and Access to Networks. The proposed activities may resemble the service models of incubators (focusing on early-stage technical assistance for new entrepreneurs) or accelerators (providing emerging-stage technical assistance to businesses ready to expand or scale), or provide a combination of both service models. Given the widespread need for support for early-stage services for entrepreneurs, MBDA encourages applicants to include services for new entrepreneurs and/or businesses in the early stages of the business lifecycle as part of its offerings.
Applicants must demonstrate a plan to drive SEDI participation in their program and target the needs of one or more subgroups within the definition of SEDI.
This Program aims to fund applicants who provide SEDI entrepreneurs with the resources and technical assistance necessary to launch and scale investable businesses that may successfully access capital through SSBCI, other government programs, or other sources of capital. (For this Program, “Capital” is defined as equity investments, debt, or grants.) MBDA expects participants in technical assistance funded by this Program to be SEDI owned businesses that are applying, have previously applied, or plan to apply to an SSBCI capital program or other government program that supports small businesses.
For information about funded services, see p. 10 of the NOFO listed in Supporting Documents below.
Estimated Total Program Funding: