Eight SBDC Clients Win State EDGE Grants

The Delaware Division of Small Business recently awarded 10 businesses with capital from the EDGE Grant program.  Five STEM Class companies are receiving a total of $495,000 and five Entrepreneur Class businesses, $216,000. Out of the ten winners of the EDGE Grant recipients, eight of them were clients of the Delaware Small Business Development Center.

“Several companies that applied in the first round but were not successful took advantage of the opportunity to work with the Division’s business resource managers to strengthen their applications for this time around,” Division of Small Business Director, Damian DeStefano said. “That is what this program is about. The funding is incredibly important to those who win, but EDGE also provides a way for all applicants learn how to improve their businesses.”

“We’ve tried to make the process transparent and helped them find out what they could do better next time,” DeStefano said, acknowledging that while the division did receive more than 100 applications for this round, he’d like to see more quality applications from the southern part of the state. “It’s incumbent on us to spread the word through targeted marketing and raising awareness. Some of the people we’ve talked to are worried they don’t have something that’s fancy enough. We’ve given grants in both rounds to restaurants. That’s helping people understand when we say these are open to anyone and everyone.”

SBDC Client EDGE Round Two Recipients:

STEM Class Winners

· 2M LLC (Wilmington). The company makes an extremely fast-charging and safe battery, which can deliver a less-than-10-minute charge for E-mobility applications, such as enabling an electric vehicle to go 200 miles on a 10-minute charge. 2M will use the grant to scale up production to meet customer demand.

· 4th Phase Water Technologies (Wilmington). The company is focused on commercializing binder-free carbon nanotube sheets made using its proprietary processes. The company will use its grant to acquire additional lab equipment and for marketing.

· Lignolix (Wilmington). The company is developing sustainable products from biomass, such as that which is produced in beer manufacturing. It will use the grant to scale up its chemical process, increase production capacity, and attract larger commercial customers.

· MCET Technologies (Wilmington).  The company developed a way of integrating sensors into textiles that can be used to monitor a patient during physical rehabilitation. It will scale up manufacturing to increase production and expand applications.

· Veramorph Materials (Wilmington). The company developed a hydrogel-based system that allows the body to absorb pharmaceuticals more efficiently. It will use its grant for critical equipment for R&D services for pharmaceutical companies and to conduct toxicology studies.

Entrepreneur Class

· Best Music Coach (Dover). The company offers online music lessons for voice and various instruments including guitar and piano. It will use its grant to upgrade its online platform and add online learning materials.

· Dolce Bakery and Coffee Shop (Milford). The bakery cafe will use this grant to upgrade its equipment and market its new services and a second Milford location schedule to open later this year.

· WilmInvest (Wilmington). The company purchases and renovates single-family homes in Wilmington, which it leases to nonprofits and governmental entities to house families in need of housing and supportive services. It will use the grant to purchase and renovate additional homes.

 

The Delaware SBDC, a unit of the University of Delaware’s Office of Economic Innovation and Partnerships (OEIP), is funded in part through a cooperative agreement with the U.S. Small Business Administration (SBA) and the State of Delaware. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA or the sponsoring agencies. All programs and services are extended to the public on a nondiscriminatory basis. As equal opportunity/affirmative action employers, the SBA, the University of Delaware and the State of Delaware are all committed to assuring equal opportunity to all persons. The University of Delaware is an equal opportunity/affirmative action employer and Title IX institution. For the University’s complete non-discrimination statement, please visit http://www.udel.edu/home/legal-notices/. - powered by Enfold WordPress Theme