Fiscal Year 2017 Regional Innovation Strategies Program Competition
EDA’s Office of Innovation and Entrepreneurship (OIE) leads the Regional Innovation Strategies (RIS) Program. Under the RIS Program, the centerpiece of the Regional Innovation Program authorized under Section 27 of Stevenson-Wydler (15 U.S.C. § 3722), EDA currently awards grants that build regional capacity to translate innovations into jobs (1) through proof-of-concept and commercialization assistance to innovators and entrepreneurs and (2) through operational support for organizations that provide essential early-stage risk capital to innovators and entrepreneurs. The RIS Program consists of two separate competitions: the i6 Challenge and Seed Fund Support (SFS) Grants competition. The i6 Challenge is a leading national initiative designed to support the creation of centers for innovation and entrepreneurship that increase the rate at which innovations, ideas, intellectual property, and research are translated into products, services, viable companies, and, ultimately, jobs. Through the SFS Grants competition, EDA provides funding for technical assistance to support the creation, launch, or expansion of equity-based, cluster-focused seed funds that invest regionally-managed risk capital in regionally-based startups with a potential for high growth.