Jump to main content.

A bureau within the U.S. Department of Commerce
OIE Background

Office of Innovation and
Entrepreneurship (OIE)

Community Venture Foundation


Fayetteville, AR

Project Name

The NWA Venture Proof-of-Concept Expansion



Award Amount

Federal Share

Non-Federal Share



The Community Venture Foundation will utilize i6 funds and matching funds to build the public and private capacity to invent, improve, and bring to market new products and services through the expansion of an existing proof-of-concept center, located in Northwest Arkansas. The targeted region is located within the greater Ozarks Regional Innovation Cluster for retail, supply chain and food-related businesses. The anticipated impact of this initiative will be a broad-based culture of idea generation; an estimated 575 new ventures created, scaled, and sustained; 700+ high-wage jobs created; and increased global competitiveness through the commercialization of technologies and entrepreneurship.