The Delaware Division of Small Business has recognized 15 small businesses with Encouraging Development, Growth and Expansion (EDGE) grants.
Gov. John Carney said in a news release the winners of the fourth round of EDGE grants include a company developing a system to address phantom limb pain for amputees, a producer of diagnostic tests for aquaculture, and a company working to become a supplier for home brewing materials.
“The EDGE Grant program is helping our state’s newest small businesses expand and innovate by providing much-needed capital assistance that these businesses may not have access to otherwise,” Carney said in the release. “The small businesses awarded a grant in this latest round of EDGE are creating unique solutions and products that set them apart from their competition. They represent the best Delaware has to offer, and we are excited to see how the grant funds help their businesses grow.”
According to the release, businesses that employ fewer than 10 individuals and have been operating for less than five years are eligible to apply for the grant funding. STEM-based companies could receive up to $100,000 for expenses and non-STEM businesses can be awarded up to $25,000.
EDGE is a matching grant program, according to the release, and the Division of Small Businesses will provide a 3-to-1 match. Funds can be used on expenses that aid the company’s long-term prospects of success, including marketing campaigns to develop a customer base or purchasing needed equipment to increase productivity.
“Small businesses are the backbone of Delaware’s economy, with over 25,000 companies that employ more than half of our state’s workers,” Secretary of State Jeff Bullock said. “The EDGE program assists these creative, driven entrepreneurs in acquiring the capital support they need to reach their full potential.”
The program, which was launched in 2019, has awarded 50 businesses $2.75 million from industries ranging from beer making to agribusiness to wearable technology.
This latest round of grant funding awards was opened in April with more than 100 businesses applying for aid. Of the finalists, 23 gave public presentations in front of an expert panel of judges at DelTech in Dover from Nov. 16-18.
Grant recipients include TheraV in Newark, which is working to help amputee patients alleviate post-amputatation therapy to reduce phantom pain, and CM Materials in Wilmington. CM Materials is a seed-stage company working to provide an efficient future for electromagnet components such as transformers, inductors, chokes, and filters.
Elyte Energy, Gaskiya Diagnositcs, and Kindwell in Wilmington received grants. ELyte Energy will use the money to develop a prototype of its hydrogen-based system to power recreational vehicles, and Gaskiya Diagnostics will purchase laboratory space and equipment. Kindwell will will use the grand for engineering and software upgrades.
Entrepreneur class winners include How Do You Brew in Smyrna, Key to Life Juice Bar, and Lean On Me Caregiving in Dover. Crossfit Petram in Middletown, One Way Insurance Group in Seaford, ONTrac in Middletown, and Pop In Artisan Pops in Middletown earned awards.
Sweets & Treats in Dover, The Berry Patch in Lincoln, and The Center for Grief and Trauman Therapy in Newark also earned awards.
This article was originally posted on Delaware awards EDGE grants to small businesses
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