Angel Insights Blog
Monday, March 09, 2020
Angel Capital Association Signs Letter of Support for Regional Funding Program
By: Pat Gouhin, Chief Executive Officer
The Angel Capital Association along with the Association of University Research Parks, International Business Innovation Association, SSTI, University Economic Development Association, Association of Public & Land-grant Universities, Center for American Entrepreneurship, National Venture Capital Association and Technology Councils of North America recently pledged their support for the Regional Innovation Program (RIS; now Build-to-Scale) within the Department of Commerce. The RI Program encourages and supports the development of regional innovation strategies by funding flexible awards with a 1:1 match. This program received funding of $33 million in Fiscal Year 2020.
The RI Program funds local organizations that are growing jobs and economies through science, technology, innovation and entrepreneurship. While federally funded research facilitates inventions, these discoveries often do not leave the lab and enter the marketplace. The RI Program helps state and local innovation economies leverage existing resources and regional collaboration to fill this gap—transforming discoveries into new solutions, products and companies. This in turn supports job creation in high-growth industries.
As the Commerce, Justice, Science and Related Agencies Appropriations bill for Fiscal Year 2021 is developed, supporting organizations are seeking $50 million for the Regional Innovation (RI) Program. This level of funding for the program will catalyze and expand initiatives that are cultivating entrepreneurship, growing new startups, and bringing new products and ideas to market—efforts that are crucial in building and maintaining the U.S. competitive edge.
Learn more about the full impact of the RI program in 2019 and the proposal for fiscal year 2021 in the response letters to the Commerce-Justice-Science (CJS) appropriations subcommittees:
- Innovation coalition letter to the Senate CJS subcommittee
- Innovation coalition letter to the House CJS subcommittee
For even more on this program, access the recent ACA webinar, Funding for Your Region.
Tags: Public Policy Angel investing
