The Small Medium Business Growth Fund offers approximately $2 million dollars in total grants aimed to retain, grow and propel innovation in district-based small businesses by supporting large scale capital improvements, critical equipment purchasing, and technological advancements within industries related to green innovation, experiential retail, incubators, immersive entertainment and professional services.
Donor Name: Washington Area Community Investment Fund
State: Washington D.C.
Type of Grant: Grant
Deadline: 07/21/2023
Size of the Grant: up to $100,000
Details:
Eligible Business Types
- Experiential Retail
- Awards to support experiential retail and immersive experiences that utilize emerging technologies to provide unique experiences or activities for customers
- (Ex- AR for experiential marketing, Point of Sale (POS) upgrades to unify in-store and online sales data; purchasing of smart mirrors to allow customers to choose an item from the store, take it to the virtual dressing room, and see what the product looks like on their own body—no changing clothes required)
- Professional Services
- Awards to support professional services that are proposing innovative projects that modernize their processes and allow them to compete regionally and nationally against large competitors
- Accounting, advertising/marketing, legal services, dental clinics
- Health Technology
- Awards to support businesses producing goods or services that utilize technology (e. IT systems, algorithms, artificial intelligence (AI), integrated smart technology, and equipment to help innovate healthcare systems and accessibility
- Green Innovation
- Awards to support for profit businesses, hybrid enterprises, and b-corporations that prioritize social and green innovation at the core
- (Ex. renewable energy and textile recycling companies)
- Immersive Entertainment
- Markets
- Must be a reoccurring fresh food market in wards 5,7,8 only. This does not include storefronts
- Incubator
- Awards to support brick-and-mortar spaces that allow 3+ smaller businesses to operate with them. These businesses within them can rotate
- These can be non-profits
Funding Information
Grants of up to $100,000 will be awarded.
Uses of funds
- Capital improvements to existing property owned or leased by the grantee
- Digital technology upgrades for the grantee’s business
- Acquiring or improving equipment for the grantee’s business.
Eligibility Criteria
- Must show proof of an active DC-based business license
- If existing business: The business must be headquartered in DC, independently owned, and operated
- Must operate out of a physical space (cannot be a home)
- Have no more than 100 employees
- Must generate $15 million dollars in revenue or less
- Must have site control (a lease or a deed)
- Cannot be a previous recipient of Great Streets Retail Small Business, Locally Made Manufacturing, Neighborhood Prosperity Fund or Small Medium Business Growth Fund.
For more information, visit WACIF.
