The New York City Economic Development Corp. (NYCEDC) will be selecting early-stage companies using and developing advanced manufacturing technologies to receive up to $30,000 over the course of two years to support business growth in NYC.
To be eligible for the program businesses need to be using or developing advanced manufacturing technologies, be incorporated for a year, have less than 15 full-time employees, have generated revenues or piloted products and receive no institutional financing.
The NYCEDC is hosting this program to support the growth of companies in NYC while paying close attention to challenges early companies face in regards to advanced manufacturing space.
During the program companies will receive money in phases, starting with the largest sum of money in the beginning to aid in equipment purchasing and various other initial expenses. The NYCEDC will require companies participating in the program to provide quarterly updates on company evolution and productivity.
The companies will also be asked to attend events related to manufacturing organized by the NYCEDC to network with peers, industry executives and potential investors.
A link to the application form can be found below. All required documentation must be submitted by Dec. 14 to futureworksnycgrowth@edc.nyc
Companies that qualify for the second round will be announced in late December and will be required to submit additional information. The additional information will include an interview, a second application, two professional references, a detailed business plan with financial projections, past tax returns and financial statements and a questionnaire for background checks.
NYCEDC expects to choose recipients and award funding by mid-January.
More information can be found on their site and their application form
