In this edition of our newsletter, we explore the transformative impact of the CHIPS and Science Act and the Tech Hubs program on small businesses across America. The CHIPS Act, with over $5 billion in investments on semiconductor-related research, development, and manufacturing, works to enhance U.S. competitiveness, create jobs, and protect national security. Concurrently, the Tech Hubs program, now in its Phase two completion, is set to transform 31 designated regions into centers of innovation by attracting capital and fostering public-private collaboration.
As the Tech Hubs program draws private capital into urban and rural areas, small businesses in these regions can leverage their local expertise to attract funding and new business partnerships. Small businesses that focus on developing innovative materials can benefit directly from small grants, while those that focus in other sectors can indirectly gain by becoming part of the supply chain of larger companies attracted by the program. Additionally, with both programs driving innovation, the adoption of new technologies will become more accessible to small businesses, which can enable them to enhance efficiency and maintain relevance.
These initiatives will forge new pathways for small businesses. As we look ahead, we envision a landscape where small businesses flourish, fueled by collaboration, innovation, and the unwavering belief in the power of entrepreneurship! Founder Forward remains dedicated to providing guidance every step of the way, empowering our founders to navigate these new pathways of opportunity.
Community Highlights
Calling entrepreneurs who are building with sustainability in mind! Founder Forward is opening applications for a new cohort to take part in a six-week program that includes unrestricted capital of $5,000, one-on-one advising with industry professionals, and group advising with industry professionals with expertise in marketing, strategy, tech, finance, and more. We are focusing on Black, Latinx, and Indigenous founders in the Bronx. Apply by Monday, April 15!
Calling Asian or Pacific Islander (API) founders who are building and innovating for an aging population! Founder Forward is opening applications for a new cohort to take part in an impact day that will include an unrestricted capital of $4,500 and group advising with industry professionals. If you are an API founder, building solutions in the New Longevity space and interested in designing for an aging population, apply by Monday, April 15!
Our partners at Render Capital are hosting the Derby Tech Summit from April 30 to May 1, in Louisville, Kentucky. It will be two days power packed with networking events, workshops, and an investor reverse pitch – all curated for founders, investors, and community partners. The Summit will culminate with the 2024 Render Competition, set to award 12 high-growth startups with $1.2M in investments!
Funding Opportunities
The Institute for Local Self-Reliance (ILSR) is launching a BIPOC Community Composter Mini-Grant Program in coastal New England states, offering $100,000 in sub-grants to BIPOC-led or serving projects. Awardees will receive funding, hot composting training, a travel stipend to attend the 8th National Cultivating Community Composter Forum, and access to ILSR's Community Composter Coalition. The program aims to support schools, community gardens, and urban farms in historically excluded neighborhoods to meet food waste regulations. Applications close on Tuesday, April 2nd.
The American Dream Awards by Hello Alice spotlight small businesses with innovative solutions, community contributions, and commitment to sustainability. Open to all US for-profit businesses, recipients receive $1,000+, access to a small business accelerator, media coverage, and more. Apply by Tuesday, April 30th.
News, Guides, & Tools
The U.S. Economic Development Administration (EDA) has awarded Purdue University a grant of $525,901 to redefine industry clusters. This two-year project aims to revise industry clusters based on business and industry trends, occupations, and skills of today’s economy. The project will result in a website housing the new definitions, data dashboards, and an interactive mapping feature.
Why is this important? Updating industry cluster definitions will help businesses identify companies, technologies, and resources that relate to their industry, including both competitors and potential partners. This can lead to networking opportunities, geographic synergies, and increased eligibility for funding and grants that are specifically aimed at supporting businesses within a cluster. The project will also facilitate data collection and analysis, ensuring that planners and researchers are better equipped to examine trends and outlooks of the new economy.
Featured Founder of the Month
Brook LaFloe, Niniijaanis One of Ones
Our Featured Founder of the Month is Brook LaFloe, the innovative mind behind Niniijaanis One of Ones. Brook was born into the Eagle clan and grew up in the Twin Cities. Brook’s journey intertwines elements of her Indigenous heritage and her family’s deep roots in education, which have inspired her passion for cultural revitalization and local Indigenous economies.
Brook’s social enterprise, Niniijaanis, aims to decolonize early childhood education and improve educational and cultural equity. Niniijaanis offers culturally relevant learning materials and curriculum, which can be used by families in meaningful activities to educate children from a young age on Indigenous culture and practices. Through the One of Ones effort, Niniijaanis supports Indigenous artists, offering them a platform to sell their original, limited-edition items.
We are proud of Brook’s work and happy to support her expansion! For a deeper dive into the story behind Brook’s business, connect with her on Instagram and Facebook.