The Spark Grant can provide up to $10,000 to manufacturers located in Ben Franklin’s 32-county region
The Spark Grant Innovation Opportunity was created to invest in the sustainable growth of the region’s existing manufacturers and tech-based companies.
THE PROGRAM WILL HELP COMPANIES:
- create new innovative products or services to position them for growth
- develop or implement processes to improve operational efficiencies or to improve marketing/sales systems.
THE MONEY CAN BE USED TO PAY FOR:
- product or process development, including salaries, prototype materials, software purchases, etc.
- consultants to assist with product or process development/improvements.
Company Match
For each dollar Ben Franklin invests up to $10,000, the eligible company must provide a minimum of 1:1 cash or in-kind match. This can include matching grants from other sources such as local, state, or federal agencies.
Follow on Funding
At the completion of the Spark Grant, companies that need further funding can apply for Ben Franklin’s traditional investment programs. If additional Ben Franklin funding is obtained, the Spark Grant funding will be rolled into the total amount the client is seeking from Ben Franklin. In this scenario, the Spark Grant will be then subject to payback.
