Impact Washington Awarded a Small Business Innovation Fund (SBIF) Grant from the Washington State Department of Commerce
Bothell, WA (January 3, 2023) - Thanks to a grant from the Washington State Department of Commerce, Impact Washington-NIST MEP will provide the assistance that small manufacturing businesses desperately need to grow. Impact Washington's program is among the 22 projects conditionally awarded a Small Business Innovation Fund (SBIF) grant focused on increasing programs and services to help meet the needs of underserved communities, businesses, and entrepreneurs.
Impact Washington will offer manufacturing-focused consulting and training to enterprises owned by women, BIPOC, LGBTQIA+ entrepreneurs, indigenous-owned, and manufacturers in the state's underserved, low-income and rural parts.
Manufacturers who apply can receive up to 80 hours of consulting and training to meet their immediate need (s) – (up to $24,00 value). Grant funds cover the cost for a manufacturing expert to deliver technical assistance and help the small enterprise navigate its next level of development and growth.
"Through the Small Business Innovation Fund, many of Washington's manufacturers have an opportunity to expand and improve their business practices, said Miguel Moreno, Small Business Account Executive, Impact Washington-NIST MEP. "Without this focused effort and funds, many manufacturers would need more time to take that next leap. Providing this level of expert guidance, manufacturers can tackle what usually would seem like an insurmountable task. The SBIF program serves the manufacturing business, Washington State's manufacturing initiatives, and the economy."
Manufacturers who apply and receive Impact Washington's SBIF Grant Support can use it to offset a wide range of services such as process improvement strategies, developing a marketing plan, workforce recruitment planning, diversifying supply chain and sales strategies, addressing cybersecurity challenges, conducting research and development on innovative manufacturing processes or products, and much more.
"It is with enthusiasm that we offer our manufacturing expertise to these markets, shared Deloit R. Wolfe Jr., President, and Center Director, Impact Washington-NIST MEP. "The Department of Commerce SBIF Grant provides us with enough funding to cover the costs and offer 25-30 deserving manufacturers the solutions they need to continue building their business."
Impact Washington's Underserved SBIF Grant application process will open in early January, and project work will begin immediately.
If you have any questions about eligibility or accepted activities, please get in touch with Impact Washington at info@impactwashington.org
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The initial press release from the Washington State Department of Commerce can be found here