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Find similar grantsInvestMS Venture Capital Program is sponsored by Mississippi Development Authority. Provides equity support to small businesses by investing in venture capital funds that support startups, aiming to attract and retain high-growth businesses in Mississippi.
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Mississippi Development Authority deploying funds for small business | Mississippi Development Authority Mississippi Development Authority deploying funds for small business Mississippi approved for $86 million in funding Funds will help operate four programs Jackson, Miss.
(July 12, 2023) – The Mississippi Development Authority and U.S. Treasury Department announced that the State Small Business Credit Initiative has been approved for up to $86 million. The SSBCI will operate four programs to support Mississippi small businesses and startups: a loan participation program, a loan guarantee program, and two equity/venture capital programs.
The loan participation program, known as the Mississippi CDFI Small Business Loan Fund, has been allocated $45 million to provide funds in the form of a loan to community development financial institutions to support lending to Mississippi small businesses and startups. This program aims to increase access to capital for small businesses in Mississippi and promote economic growth and job creation.
The Mississippi Venture Capital Program administered by Innovate Mississippi has been allocated $15 million to provide equity support to small businesses by investing in venture capital funds that support startups. This program aims to attract and retain high-growth businesses in Mississippi by providing access to the capital they need to grow and create jobs.
The SSBCI Direct Program in Mississippi is an initiative with a budget of $11 million, focused on Pre-Seed, Seed and Series A stage startups. Larger deals can receive up to $3 million with an SSBCI match of up to $1 million, while the remaining funds are allocated for SSBCI deals with a match of up to $500,000.
It’s important to note that Mississippi’s SSBCI Direct Program will not serve as the lead investor and requires a lead investor’s participation in a funding round. Additionally, the state will operate a $15 million loan guarantee program with guarantees of up to 80 percent, aiming to expand access to capital for underserved small businesses.
For further information about the SSBCI and the available programs for Mississippi’s small businesses and startups, please email ssbci@mississippi. org or go to at https://www. innovate.
ms/ssbci . “Mississippi’s economy is booming, unemployment is at an all-time low, and now is the ideal time to start and grow a small business in our state. We’re incredibly excited to see these funds invested into local communities to support Mississippi-grown small businesses.
The future of our state’s economy is being charted today by innovative entrepreneurs and I greatly look forward to seeing their continued success. ” – Gov. Tate Reeves “The SSBCI will provide critical funding to support Mississippi small businesses and startups, and we are thrilled to see these programs become a reality.
By investing in these Mississippi companies, we will generate new job opportunities and spur even more economic growth in communities throughout our state. ” – MDA Deputy Executive Director Laura Hipp “This program is a great way to multiply the impact of venture capital investments because it relies on a private investor putting their capital at risk – but then doubling the amount and impact of that investment.
” – Tony Jeff, President and CEO of Innovate Mississippi Mississippi Development Authority is the state’s lead economic and community development agency. MDA focuses on new business recruitment, existing business expansion, workforce training and tourism promotion. For more information, visit MDA’s website at mississippi.
org. Contact Us Using The Form Below
According to the current listing, eligibility includes: Venture capital funds supporting startups in Mississippi. Confirm the full requirements in the official notice before applying.
InvestMS Venture Capital Program is funded by Mississippi Development Authority. Verify program details on the funder's official page before applying.
This opportunity targets applicants in Mississippi. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
Cultural Heritage Grant Program (Mississippi Delta National Heritage Area) is sponsored by Mississippi Delta National Heritage Area (MDNHA) (with support from the National Park Service and the Mississippi Development Authority). This program aims to preserve, perpetuate, and celebrate the Mississippi Delta’s heritage by fostering collaboration that strengthens Delta communities and their economies. Grants help bring local stories to life, strengthen community identity, and enhance cultural heritage tourism throughout the region. Successful applications must align with one or more of MDNHA's five cultural heritage themes.
Mississippi Small Business Development Grant is a grant from the Mississippi Development Authority that funds economic development organizations and local governments to develop industrial sites across Mississippi. Ready Sites — publicly owned properties with at least 20 developable acres — are eligible for grants up to $50,000, while Premier Sites of 100+ acres with intermodal access qualify for up to $250,000. A minimum 50-50 match from other sources is required. Eligible activities include engineering and due diligence services, environmental assessments, utility expansion, road and rail infrastructure, and on-site demolition. Eligible applicants include counties, municipalities, and public or private nonprofit economic development entities.