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Capital Challenge

The FY22 Capital Challenge seeks to increase access to capital in communities where risk capital is in short supply. View the FY22 Capital Challenge grantees here.

The Capital Challenge provides operational support for:

  • the formation, launch, or scale of investment funds that seek to invest their capital in scalable startups;
  • organizations with a goal to expand capital deployment within a community, region, or regional industry (e.g., angel networks or investor training programs); and
  • practice equity-based investing, whether through traditional or hybrid models, or by supporting an initiative whose participants practice equity-based investing (in contrast to debt-based investing, which is not supported under the Capital Challenge).

Capital Challenge grants are not allowed to be used as investment capital. The Capital Challenge invites organizations to submit competitive proposals from organizations that, ultimately, seek to augment investment in technology-based companies in their community, region, or combination of regions that are aligned with high-growth industrial clusters.

The Capital Challenge plans to award up to $7 million in grants in FY22.


Past Awards

2022202120202019 SFS2018 SFS2017 SFS2016 SFS2015 SFS2014 SFS

Office of Innovation and Entrepreneurship (OIE)

Build To Scale (B2S)
formerly Regional Innovation Strategies Program (RIS)

SPRINT Challenge

STEM Talent Challenge

Accelerate R2 Network Challenge

National Advisory Council on Innovation & Entrepreneurship (NACIE)

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