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The grant award will fund a pilot program, the Foundry Initiative, to be administered by the university’s Division of Research + Economic & Community Development (RECD) at Block22 in downtown Pittsburg.
The grant award requires a 1:1 match from the university.
“The Foundry Initiative is a collaborative partnership with key communities, economic development entities, entrepreneurs, and industry leaders in Southeast Kansas,” said Shawn Naccarato, vice president of RECD.
It will begin in Crawford, Bourbon, Allen, and Neosho counties, then will expand to Wilson, Montgomery, Labette, and Cherokee counties. It will be available to businesses and entrepreneurs in key sectors, including advanced manufacturing, food and agriculture, and professional and technical services.
The goal is to strengthen the state economy by bolstering rural communities and adding jobs.
“We know that our Small Business Development Center (SBDC) provides valuable services to our Southeastern region,” Naccarato said. “With the FORGE grants, we’re really creating access to capital infusion opportunities for small business owners.”
Through an application process, the funding will provide market analysis, product prototyping, grant writing and social media services and training.
Of the $350,000, the initiative will reserve $225,000 for mini-grants and technical assistance grants.
"SBDC assists clients with business plans, cash flow projections, and general startup guidance, but there hasn’t been a way for us to help businesses take the next step -- until now,” Naccarato said. “This will be ideal for those who need technical assistance, consulting, or a piece of equipment they haven’t been able to access. Our Foundry Initiative can make that happen.”
Grants will be awarded in three phases. Details about the grant application process for existing small businesses and budding entrepreneurs will be available online by Aug. 29 at pittstate.edu/FORGEGrant
