The Nebraska Department of Economic Development has announced Innovation Fund Prototype Grants to provide financial assistance to individuals and businesses operating in Nebraska to support proof of concept activities.
Donor Name: Nebraska Department of Economic Development
State: Nebraska
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): Ongoing
Grants Size: $150,000
Grant Duration: 24 months
Details:
Funding Information
- Prototype grants are awarded at up to $150,000 per project.
- Applicants must be businesses operating in Nebraska that can provide a minimum of 50% of the grant request as matching funds. Projects qualifying as value-added agriculture require a reduced match of 25%.
- Grant funds are accessed via reimbursement. DED reimburses project costs at a rate of 66%, or 80% for value-added agriculture projects.
- Eligible applicants must submit an application form and provide a business plan, plus evidence of matching funds.
- If approved, the project must be completed and all funds drawn down within 24 months.
Eligible Use of Funds
Prototype grant funds must be used towards the development of a product. Examples of eligible costs include wages for employees or contractors, prototype materials and limited preapproved tooling or equipment costs. Applicants must provide a budget at the time of application that outlines anticipated project costs.
Eligible Matching Funds
Include any non-state source which are: private foundations, federal or local governments, quasi-governmental entities, commercial lending institutions, investors, or other sources provided they are not using funds appropriated by the Nebraska Legislature. Matching funds must be in the form of a cash match.
Eligible Businesses
Eligible recipients include any Nebraska-based corporation, limited liability company, partnership, registered limited partnership, sole proprietorship, business trust or other entity with fewer than 500 employees that is engaged in non-retail primary industries and is adding value to products or processes in Nebraska.
For more information, visit Nebraska Department of Economic Development.