EDA: U.S. Department of Commerce Launches $38 Million Build to Scale Program to Fuel Innovation and Tech-Based Economic Development
Today, the U.S. Department of Commerce announced the opening of the Economic Development Administration’s (EDA) FY21 Build to Scale (B2S) program, which is designed to invest in regional economies through scalable startups. The Build to Scale program’s national competitions will deploy $38 million to further technology-based economic development initiatives that accelerate high-quality job growth, create more…
FDIC: First FDIC Chief Innovation Officer Appointed
Sultan Meghji to spearhead agency’s tech lab and financial innovation efforts The Federal Deposit Insurance Corporation (FDIC) today named Sultan Meghji as the agency’s first Chief Innovation Officer, charged with leading the FDIC’s efforts to promote the adoption of innovative technologies across the financial services sector. “As a recognized expert in financial technology, Sultan brings…
SBA: National Science and Technology Council and SBA Partner to Award $330,000 in Prizes in New Lab to Market Competition
The U.S. Small Business Administration partnered with the National Science and Technology Council’s Lab-to-Market subcommittee to award $330,000 in prizes to the winners of the new Lab-to-Market (L2M) Inclusive Innovation Ecosystem Prize Competition. The L2M prize competition recognizes the most impactful organizations, programs and ideas that support the research and development (R&D) innovation ecosystems, particularly those focused on underrepresented…
EDA: $2 Million in Grants Awarded to Drive Innovation and Entrepreneurship through Inaugural STEM Talent Challenge
Economic Development Administration’s Program Supports Efforts of Seven Organizations in Seven States WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced the seven grant recipients of the Economic Development Administration’s (EDA) STEM Talent Challenge to boost local science, technology, engineering, and math (STEM) talent. The inaugural STEM Talent Challenge funding opportunity kicked off in August 2020 to further build STEM…
FDIC: Eleven Companies Selected to Compete in Final Phase of Tech Sprint
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of 11 companies to compete in the third and final phase of the agency’s Rapid Phased Prototyping Competition, a tech sprint designed to develop an innovative new approach to financial reporting, particularly for community banks. The FDIC selected the following companies to continue to Phase…
CFPB: No Action Letter Issued to Upstart Network, Inc. to Facilitate the Use of Artificial Intelligence in Loan Pricing and Underwriting
The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Upstart Network, Inc. (Upstart), regarding its automated model for underwriting and pricing applicants for unsecured, closed-end loans. Issued under the updated NAL Policy from last year, NALs provide increased regulatory certainty that the Bureau will not bring a supervisory or enforcement action against…
Census Bureau: Virtual Summit to Highlight Data Innovations Scheduled for December 9-11
What: The U.S. Census Bureau is celebrating the fifth anniversary of The Opportunity Project (TOP) at its first-ever three day virtual conference, featuring more than 35 new products from the Census Bureau and industry collaborators. There will be 24 sessions at this year’s conference including keynotes, lightning talks and discussions on government innovation, open data strategy and technology for…
EDA: U.S. Department of Commerce Launches $25 Million SPRINT Challenge to Address Coronovirus Pandemic Through Entrepreneurship and Innovation
Today, U.S. Secretary of Commerce Wilbur Ross announced the opening of the Economic Development Administration’s (EDA) new Scaling Pandemic Resilience Through Innovation and Technology (SPRINT) Challenge, which will enable organizations across the country to address the economic, health, and safety risks caused by the coronavirus pandemic through entrepreneurship and innovation. The SPRINT Challenge is a…
SBA: $3 Million in Grants to Organizations Supporting Small Business Innovation and R&D Commercialization Awarded
The U.S. Small Business Administration granted 24 awards up to $125,000 each for specialized training, mentoring, and technical assistance for R&D-focused small businesses under the Federal and State Technology (FAST) Partnership Program administered by the SBA’s Office of Innovation and Technology. FAST seeks to improve outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)…
EDA: $10.2 Million Invested to Establish High-Tech Business Incubator at the Innovation Park in Tallahassee, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $10.2 million grant to the Leon County Research and Development Authority, Tallahassee, Florida, to build a 40,000 square-foot, high-tech business incubator within the Innovation Park of Tallahassee to aid in the formation and expansion of technology businesses,…