Developing a strong grant package or preparing for a pitch competition takes lots of dedication. As an entrepreneur, you will need to carve out enough time to effectively complete applications and rehearse for pitch competitions. The best advise for applying for grants: Don’t wait until the last minute to apply. When you wait for the deadline to submit your application, you will miss the opportunity to think critically about your business needs and prepare the best application package.
Therefore, if you are serious about completing grants for your business, follow these steps to stay on track of deadlines:
- Post the grant deadline on your calendar;
- Provide yourself with a first draft due date for completing your application;
- Share your application with friends for feedback;
- Prepare your final application and submit, before the deadline.
This week’s listing of funding opportunities features grants and pitch opportunities to help you position your business for more remarkable growth and scalability.
Michigan Offers Grants to Grow Your Business
Michigan recently announced the Growing MI Business Grant Program that will provide $409 million to support Michigan businesses. Businesses operating in Michigan will qualify for grants of up to $5 million. To be eligible, businesses such as entertainment venues, gyms, hotels, restaurants and barbers must have been in operation by Oct. 1, 2019. However, businesses established between Oct. 1, 2019, and May 31, 2020, are eligible for grants covering up to 25 percent of their costs. For more information, visit here. Applications are due on March 31.
IdeaFest Pitch Competition
Startup founders can pitch their business idea to a panel of judges at the IdeaFest Pitch Competition. The 20 finalists will compete to be awarded $5,000 for first place, $3,000 for second place and $2,000 for third place. Competition winners also will receive 25 hours of free business consulting from The Launch Place, an organization supporting entrepreneurs with business development and investment funding. More information is available here. Apply by April 8.
Fearless Strivers Grant Initiative
Did you know that Black women seeking startup financing receive less than one percent of VC funding? Fearless Fund supports women-led startups with pre-seed, seed or Series A financing. The organization’s new initiative, Fearless Strivers, will award 11 women-owned businesses with $10,000 grants, mentorship and digital resources to sustain an online business presence. Information is available here. The grant is available to businesses operating in Atlanta, Birmingham, Dayton, New Orleans, New York City, Los Angeles or St. Louis. Application deadlines are the last day of every month with the final due Dec. 31.