MBDA accepting applications from qualified organizations to develop entrepreneurial programs for students and grow the number of MBEs
WASHINGTON (April 28, 2022) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) made a Broad Agency Announcement (BAA), totaling an estimated $1.8 million in federal grants, for qualified organizations to develop entrepreneurship programs for students at Minority Serving Institutions (MSIs).
“America’s road to prosperity runs through our minority business community. To reach our destination, we must look to the next generation of students and young entrepreneurs who will help lead the way,” said Secretary of Commerce Gina M. Raimondo. “MBDA’s investment in Minority Serving Institutions will prepare students to compete in the 21st century, both at home and abroad, while furthering the Department of Commerce’s mission to create a strong, diverse economy.”
Eligible Minority Serving Institutions include:
- Historically Black Colleges and Universities (HBCUs)
- Hispanic Serving Institutions (HSIs)
- Tribal Colleges and Universities (TCUs)
- Native Hawaiian Serving Institutions (NHSIs)
- Alaska Native Serving Institutions (ANSIs)
“MSIs have historically played an important role in supporting minority communities, giving graduates the tools and experience to enrich civic and economic life,” said Miguel Estién, Acting National Director of the Minority Business Development Agency. “Our mission is furthered through investments and partnerships with academia, business and community leaders who foster entrepreneurship on MSI campuses today, to prepare the future leaders of tomorrow.”
The grants will be for a two-year term but funded one year at a time. The funding amount for each award in Fiscal Year 2022 will be approximately $300,711. For the latest information on MBDA programs and announcements, please visit www.MBDA.gov.