The Erie County Gaming Revenue Authority (ECGRA) has pledged up to $3.9 million through 2017 to spark small business growth. The organization is now accepting applications for two grant programs as part of its Ignite Erie initiative.
Ignite Erie aims to spur inner-city small business development, build industry-university collaborations for business acceleration, and offer a broader spectrum of financing products for starting, growing and reinventing small businesses.
Under its Inner-city Small Business Development program, ECGRA is committing $150,000 over three years to seed one organization with the mission, capacity and knowledge to tap into the unrealized potential of inner-city markets and entrepreneurs.
“Small business development in impoverished census tracts is at the heart of improving commercial corridors and revitalizing neighborhoods,” said ECGRA Executive Director Perry Wood in a statement. “If we can find one key organization to mastermind and drive a business-focused revitalization strategy, we may change the trajectory of Erie’s inner city and its residents.”
ECGRA is soliciting grant applications from eligible organizations that can develop a cohesive strategy to revitalize the inner city one neighborhood at a time. Applicants will need to demonstrate their ability to work collaboratively with banks, developers and small-business owners to ignite commercial activities in Erie.
ECGRA is also investing up to $750,000 over three years to create an industry-university ecosystem to support local entrepreneurs.
“Across the country, universities are collaborating with each other, startup entrepreneurs, small businesses, manufacturing, labor, healthcare and local government to create an atmosphere conducive to innovation,” said Wood. “While Erie can’t boast federal labs, major research institutions or tech clusters, we are strong in applied sciences and manufacturing. Erie’s entrepreneurial spirit will be ignited when our university community comes together and leads an effort to bring the applied sciences to local industry, basement tinkerers and ambitious students.”
For this Industry + University Business Acceleration Collaboration program, applicants must have clearly established ties to local industry and collaborative university partnerships that complement their organization’s research and development strengths in service to the entrepreneur.
Both grant programs require a 1:1 cash match. Applications are due by 4:30 p.m. Thursday, January 22.
A third Ignite Erie program, launching later this year, will inject up to $3 million in mission-related investments in Erie County small businesses.
Source: Erie County Gaming Revenue Authority
Writer: Elise Vider