May 03, 2010

$12 Million Available in New Federal “i6 Challenge” to Bring Innovative Ideas to Market

Entrepreneurs, investors, universities, and nonprofit organizations are inviteded to participate in the “i6 Challenge,” a new $12 million innovation competition administered by the Economic Development Administration of the U.S. Department of Commerce, in partnership with the National Institutes of Health and National Science Foundation.

EDA will award up to $1 million to each of six teams with the most innovative ideas to drive technology commercialization and entrepreneurship in their regions. Applicants must demonstrate a matching share of at least $500,000 from non-federal sources. NIH and NSF will award a total of up to $6 million in supplemental funding to their SBIR grantees that are associated or partnered with the winning teams.

The deadline for applications is July 15, 2010.

EDA will hold an online information session at 5:00 p.m. PDT on May 17, 2010. More details on the session will be posted at the i6 Challenge web site.