Seeking to positively impact minority-owned businesses and communities, the Minority Business Development Agency (MBDA) within the Department of Commerce is calling for proposals offering innovative ideas focusing on a range of areas that will assist them in meeting their goals, as published in their Broad Agency Announcement (BAA) this past week.
“We are excited to begin this year’s application process and look forward to receiving the proposals,” said Acting National Director Edith McCloud in a press statement. “Minority-owned businesses contribute greatly to our economy, and through the BAA, we can work to meet the needs of this community with the ultimate goals of continued expansion, growth and job creation.”
The BAA is open to for-profit entities (including but not limited to sole-proprietorships, partnerships, limited liability companies and corporations), non-profit organizations, institutions of higher education, commercial organizations, individuals, state and local government entities, or Indian Tribal governments. Proposed projects range from increasing access to capital to gaining resources that improve disaster preparedness and relief. The goal is to solicit proposals that will positively impact minority-owned businesses and the communities they serve.
The focal points of the BAAs are aligned with the Agency’s key priorities in support of minority-owned businesses. Priorities include:
- Access to Capital
- American Indian, Alaska Native, Native Hawaiian Entities and/or Initiatives
- Aquaculture
- Disaster Readiness
- Disaster Recovery
- Entrepreneurship Education Program for Formerly Incarcerated Persons
- Global Minority Women Economic Empowerment Initiative
- Historically Black Colleges & Universities Initiative
- Inclusive Infrastructure Initiative
- Research
- Space Commerce
- Sustainable Business Model
- Technology Transfer and Commercialization
- Virtual Business Centers
MBDA now includes BAA categories for formerly incarcerated persons and research projects to quantify and address the needs and challenges of minority-owned businesses. It recognizes the important role that entrepreneurship has in reducing recidivism and unemployment for released prisoners by improving the lives of all Americans through educational entrepreneurship programs. Crime reduction and improved public safety are also top priorities.
Two pre-application teleconferences to educate potential applicants about the federal funding opportunity announcement are scheduled for June 18 and 21, 2018 from 2:00 – 3:00 pm Eastern Time. MBDA encourages applicants to attend at least one of the pre-application teleconferences.
The deadline to submit completed applications for the broad agency announcement is 11:59 pm Eastern Time on July 11, 2018.
Applicants are encouraged to submit applications as soon as possible to receive funding for Fiscal Year 2018.
