The Live Free and Start Business Incubator Education and Acceleration Grant Program will help nonprofit business incubators provide education and acceleration programs to startups and small businesses across New Hampshire. Eligible applicants can apply for up to $20,000 in grant funds. Applications are due Friday, September 2, 2016 by 4:00 p.m.
Program
The Live Free and Start Business Incubator Education and Acceleration Grant Program will help nonprofit business incubators provide education and acceleration programs to startups and small businesses across New Hampshire. Live Free and Start recognizes the important role education plays in supporting the growth of NH’s innovation economy and job creation.
Funding for this program was provided pursuant to HB1 (2015) and is available for programs during Fiscal Year 2017 (July 1, 2016 – June 30, 2017). While Live Free and Start intends for this program to be flexible, we require the funds be used to support new or existing education and acceleration programs. Eligible applicants can apply for up to $20,000 in grant funds. Please note all funds must be spent by June 30, 2017.
Eligible Recipients
Nonprofit business incubators operating in New Hampshire are eligible to apply. Eligible incubators must provide educational and technical assistance, an array of business support resources, shared basic office services and equipment, and onsite co-working membership opportunities for businesses.
Application Timeline
• Applications available August 12, 2016
• Applications due Friday, September 2, 2016 by 4:00 p.m.
• Award decision September 16, 2016
Applications will be reviewed by a grant review committee comprised of members of the Live Free and Start Advisory Council and staff. This committee will review all submissions based on the criteria outlined in the application. The Business Finance Authority’s Director of Entrepreneurship will coordinate the review process with the committee.
Application
All applications will be completed and submitted via email to Liz Gray at lizg@nhbfa.com.
The following outline details what information is required on the application.
Narrative Requirements:
- The executive summary must include:
- Brief organizational history
- Mission statement
- Region of the state you serve
- Description of the type of small businesses and startups your incubator currently supports
- Current number of incubator company tenants and estimated number of businesses that you currently serve through programming
- Detailed description of how your incubator will use the grant funds to support education and acceleration programs for current and prospective incubator members
- Description of how this funding will help your incubator support Live Free and Start’s mission to make NH an even better place for tech businesses to start, connect and succeed
- Grant amount you are requesting
- Expected number of businesses you plan to serve as a result of receiving these funds
- A budget with line items for the use of the grant funding and detailed timeline of when funds will be spent.
A completed application requires the following attachments:
- List of Board of Directors
- IRS tax determination letter
- Current organizational chart and budget
- Most recent copy of IRS 990 Form
- Certificate of Good Standing
Other Conditions
Successful applicants will be required to:
- Execute a grant agreement with Live Free and Start / NH Business Finance Authority
- Cross promote Live Free and Start on incubator’s website
- Maintain updates to the Live Free and Start events calendar of all appropriate educational workshops and seminars occurring at the incubator to help keep businesses connected and aware of educational opportunities available to them statewide.
- Provide a final report on the use of the funds to Live Free and Start by June 30, 2017.
