States – Delaware

Delaware Resources

Delaware Innovation Fund  

Delaware Innovation Fund
1601 Concord Pike
Suite 82
Wilmington, DE 19803
(302) 777-1616
info@innovationcapital.com

Purpose of Initiative

The Delaware Innovation Fund (DIF) is a $10 million private economic development and venture capital entity established in 1995. The DIF provides counsel, education and selective early-stage investment capital to encourage the growth of seed, start-up and early-stage high technology companies in Delaware and the surrounding Mid-Atlantic region.

The DIF provides early-stage investment funding in either the form of equity capital, long-term debt with royalty-based payback, or convertible debentures.

Eligibility

Information about eligibility is not available.

Application Process

The DIF reviews the business plan of potential portfolio companies when making funding decisions. The business plan should include a technology description, financial results and projections, information on the status of any intellectual property, profiles of the company’s management and board of directors and finally, a market strategy. Business plans should be submitted in hard copy and electronically for consideration.

To request an application, send a copy of your company’s business plan to DIF via email.

Award Details

Initial investments made by the Delaware Innovation Fund fall into two categories; 1) Demonstration funding with investments from $25,000-$50,000 and 2) Commercialization funding of $50,000-$500,000.

Delaware Strategic Fund

Kenneth R. Anderson
Entrepreneurial & Small Business Support Director
Delaware Economic Development Office
Kenneth.R.Anderson@state.de.us

Purpose of Initiative

The Delaware Strategic Fund represents the primary funding source used by the Delaware Economic Development Office (DEDO) to provide low-interest loans and grants to businesses located or looking to relocate to the State of Delaware.

Funds may be used for the following purposes: (1) retention and expansion of existing firms; (2) recruitment of new firms; (3) formation of new businesses; and (4) environmental assessment and remediation of certified brownfields.

The Delaware Strategic Fund supports business research that will bring innovative new products, jobs and revenue to Delaware. The Fund represents the primary funding source used for Small Business Innovation Research (SBIR) Bridge Grants. This support is an important part of the Governor’s vision to usher in a new economic era in Delaware. Our efforts are helping to launch new entrepreneurial ventures in Delaware.

Eligibility

Businesses that demonstrate the potential to create employment opportunities for Delawareans are eligible to apply.

Application Process

Please contact DEDO for inquiries and application assistance. The Strategic Fund application is available here.

Award Details

No information was found on the amount of funding supplied.

Delaware EPSCoR

Donald Sparks
Project Director
Delaware Environmental Institute
221 Academy St., Suite 250
Newark, DE 19716
(302) 831-4335
dlsparks@udel.edu 

Purpose of Initiative

EPSCoR, the Experimental Program to Stimulate Competitive Research, is a federal grant program led by the National Science Foundation (NSF) to help states develop their research capabilities and institutions.

Three goals drive Delaware’s EPSCoR program:

  • Engage science, engineering, economics and policy experts in a vibrant, globally competitive, research and education community to address environmental and energy challenges and capture the economic and society benefits of the research.
  • Develop a new and diverse generation of science, technology, and policy experts through targeted education programs, engaging public audiences, and building capacity for the communication of science and policy.
  • Manage the grant with a focus on long-term sustainability, building competitive research teams, and integrating new initiatives into the fabric of our institutions.

Program funds are used to hire new research faculty; provide education opportunities for K-12, undergraduate and graduate students; purchase research instrumentation; catalyze new research initiatives; and create networking opportunities across the participating organizations.

Two distinguishing features of the program are its integration of ethics, policy, economics, legal/regulatory knowledge, and discovery research and its emphasis on collaboration with local and regional government agencies, industry, and nonprofit organizations.

Eligibility

Delaware EPSCoR provides grants to researchers at Delaware universities in order to encourage exploration of new approaches to monitoring ecosystem health and addressing environmental concerns.

EPSCoR also awards seed grants annually to investigators whose projects aim to solve environmental problems in Delaware. Awardees are chosen based on the quality of the science being proposed, the applicability of the research to state environmental issues and EPSCoR themes, the strength of the collaborations and whether the grantee is a first-time recipient of EPSCoR funding.

Application Process

The Delaware EPSCoR program provides funding opportunities to researchers working on projects that advance the mission of the program. For information about core center fee waivers and seed grants click here.

Seed grant proposals are solicited annually during the fall semester.

Award Details

Seed grants are typically in the $50,000 range and help researchers set the stage for applications to larger federal funding programs.

Updated March 2018, Kristin Stiner

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