On August 9, 2022, The Washington State Department of Commerce shared a news release announcing a new funding opportunity for non-profit organizations who assist underserved entrepreneurs and small businesses in Washington state. Organizations are invited to apply for up to $5 million each in grant funding through the Small Business Innovation Fund. According to the news release, this program aims “to fund proposals that will offer community-based programs and services tailored for the specific needs of BIPOC entrepreneurs, women-owned small businesses, and businesses located in underserved, low-income and rural areas.” The news release also lays out the following eligible uses of the funding:
- Funding small business incubator and accelerator programs
- Local procurement initiatives
- Small business competitiveness programs focused on hiring and retention
- Improvements and repairs to physical workspaces in response to public health requirements or acts of vandalism
- Projects that increase the aptitude of small businesses to succeed and thrive
The Washington State Department of Commerce is accepting applications through September 2, 2022. Download the RFP to begin your application here.
For more information about the Small Business Innovation Fund, visit the Department of Commerce website.