581390 - BOOST for Business Innovation - Second Stage Growth - Economic Gardening
Funding Opportunity Details

Rural Revitalization

Final Application Deadline: Oct 25, 2024 4:00 PM

Description

• Description

  The Rural Innovation Grant program aims to support creative ideas that address current issues and challenges faced by rural communities associated with the themes of community investment, growth, and connection. The word “innovation” is derived from the Latin verb innovare, which means to renew. At its root, innovation means to improve or to replace something, such as a process, a product, or a service. It is the concept of bringing creativity into implementation with a definitive outcome. This grant is designed to support the implementation stage of projects.  
   
  This grant program will assist local stage two growth companies with identifying new markets. The program will use sophisticated tools for strategic research combined with analytical frameworks to help local companies scale up and create jobs and wealth in rural communities. Companies will be connected to a team of specialists through the National Center for Economic Gardening who use corporate tools like database research, search engine optimization, geographic information systems, and listening posts to find new markets, provide competitive intelligence, identify industry trends, assess digital marketing efforts, and find qualified leads. 
   
  The program, defined in Iowa Administrative Code, is administered by the Center for Rural Revitalization, a division of the Iowa Economic Development Authority (IEDA), in consultation with the Governor’s Empower Rural Iowa Initiative Task Force.
   
  TIMELINE 
  September 3, 2024 | Application Window Opens  
  Application available through IowaGrants.gov 
   
  September 5, 2024 | Grant Informational Webinar
  Register for the webinar to be held on Thursday, September 5, at 10am CT. The webinar will be recorded and posted on the grant website.  
   
  October 25, 2024 | Application Deadline
  Deadline to submit an application for funding is  4pm CT on October 25. 
   
  November 25, 2024 | Funding Decision Notification
  Applicants notified of funding decisions by November 25. 
   
  December 1, 2024 - June 30, 2026 | Funding Period
  All project activities and incurred expenses must occur within the eligible contracted funding period of  December 1, 2024 - June 30, 2026. Funding is awarded on a reimbursement basis after expenses have been incurred for approved project activities.  
    
  FUNDING 
  Grant Request Amount 
  Grant recipients will be awarded up to $5,000. A portion of the total project cost must be used to contract with the National Center for Economic Gardening for eligible one-time project expenses that are incurred and expended within the eligible funding period. 
  Match Requirement 
  Applicants are required to demonstrate investment by providing a minimum of 1:1/2 cash match. For example, an applicant that requests $5,000 in grant funds must have at least $2,500 in cash match. The cash match must be secured, dedicated to eligible expenses, a legitimate part of the proposed project and must be expended within the eligible funding period. The 1:1/2 match requirement may be raised through a combination of public and private sources but may not include in-kind donations of goods or services, unsecured funding, or loans. While the minimum match requirement is 1:1/2, competitive proposals will demonstrate broad-based financial support for their project and that public funding sources have been adequately leveraged to seek and obtain private dollars. 

  • Cash match constitutes actual cash contributed to direct project expenses by the applicant or other funding sources.
  • Funding from state government that is already being used as match from another program,including other funds from IEDA, cannot be used to meet the match requirement.

  Funding Period 
  All project activities and incurred expenses must occur within the eligible contracted funding period, December 1, 2024 – June 30, 2026. Funding is awarded to grant recipients on a reimbursement basis after expenses have been incurred for approved project activities within the eligible funding period. Expenses that are incurred before or after the eligible funding period are not eligible for reimbursement. 

  Disbursement of Funds 
  Disbursements will be made on a reimbursement basis. Disbursement claims must be for an amount equal to or greater than $500 per request. All claims must be made through IowaGrants.gov. To receive funds, the applicant must be in good standing with the Iowa Department of Revenue. 
  When submitting a claim, the following items are required. 

  • A claim including:
    • A detailed description of the expenditures and the corresponding amounts-Product invoices and proof of payment for any equipment, supplies or materials purchased-Invoices and proof of payment for any subcontractor payments
  • A status report for the claim period.
  • The IEDA may request additional documentation as needed.

  ELIGIBILITY REQUIREMENTS 

  Eligible Applicants  
  An eligible applicant is a stage two growth company within the advanced manufacturing, value-added agriculture and food production, or information technology sectors. The company must be incorporated in the state of Iowa or authorized to do business and operating in the state of Iowa. The applicant will be responsible for submitting material during the funding application process and will be the entity legally obligated to the terms of an agreement if awarded funding. Partners and collaborating entities are not subject to the eligibility requirements but may be subject to financial and programmatic review during the selection process. 

  • Projects/programs must exist in and benefit a community in Iowa with a population of 20,000or fewer and not contiguous (sharing a common border) to a city with a population of 40,000 or greater or be in an Iowa county that is one of the88 least populous counties in the state.
  • Any eligible applicant will be allowed to submit one application per funding announcement. An applicant who has applied as the principal entity for an application may also be named as a partner on additional applications submitted but may not be named as a primary entity.
  • An eligible applicant must have:­ been in business for at least three (3)years ­ sales outside of Iowa or plans to expand sales outside the state 10 - 100 employees  sales over $1 million

  Eligible Use of Funding 
  Grant funds will be used to contract with the National Center for Economic Gardening for eligible one-time project expenses. Other eligible expenses include, but are not limited to, the following:  

  • Expenses related to increased sales into a new geographic market.
  • Enhanced website sales strategies.
  • Development and implementation expenses for an expanded distribution network.

  INELIGIBLE PROJECT ACTIVITIES AND EXPENSES 
  Funding for existing projects or programs that do not include significant expansion of the project or program are ineligible. The Grant Program does not support ongoing expenses for existing programs or projects.  

  Ineligible expenses include, but are not limited to:  

  • International or domestic travel (outside of Iowa)
  • Insurance
  • Conference or training expenses for program providers
  • Routine, reoccurring maintenance
  • Ongoing utilities
  • Budget shortfalls
  • Fundraising or benefit event activities
  • Lobbying activity

  ONLINE APPLICATION SUBMISSION 
  Applicants must apply via IowaGrants.gov, an online application portal. Applications will not be accepted in any other format. Late, incomplete, or ineligible applications will not be accepted. Applicants must create a login to view the full application for the program.  

  REVIEW PROCESS 
  Applications will be reviewed for completion, eligibility, and adherence to published guidelines. Applications are reviewed as submitted. New application information or subsequent application clarification submitted after a program deadline is not considered. Eligible applications will be referred to a competitive review by a volunteer panel that includes the Governor’s Empower Rural Iowa Initiative Task Force members and expert professionals (grant review committee). The grant review committee reserves the right to recommend conditional funding and partial funding of projects. Funding recommendations will be submitted by the committee to the executive director of the IEDA for consideration and approval. The applicant’s authorized official will receive award notification. All funding decisions are final.  

  SCORING RUBRIC 
  Eligibility Review 
  Applications must demonstrate evidence of the following: 

  • •Applicant is an eligible candidate.
  • •Funding request meets eligible project and expense requirements.
  • •Request is for no more than $5,000.
  • •Request includes proof of 1:1/2 cash match for grant request.
  • •Project duration does not exceed contract period.
  • •Application is complete and submitted through IowaGrants.gov.
  • •Applicant has included a letter of support from the local city or county government.
  • •Primary Applicant is not named as Primary Applicant on any other applications; however,can be named as partners on additional applications.

  Application Review  
  The Scoring Rubric will be used to evaluate applications. Each section has criteria and corresponding point values to ensure a fair review process. Extra consideration is provided to projects located in a community of 5,000 or fewer (additional 5 points). The rubric is on a scale of 130 points.  
  Shape

  CONTACT 
  Potential applicants are encouraged to review all published material and contact Empower Rural Iowa Director Robin Bostrom 515.348.6176 or rural@iowaeda.com, with questions well in advance of application deadlines.