The ESO Development Fund is available to Winston-Salem based Entrepreneurial Support Organizations. ESOs must be a 501(c)3 and the organization’s core functions must cater to Winston-Salem based early-stage companies. The ESO Development Fund will grant up to $50,000 annually to ESOs to advance the following operations, programs, or initiatives:
CAPACITY BUILDING FOR OPERATIONS
Applications that support the growth and/or increased capacity of ESOs to serve more startups will be accepted.
NEW PROGRAM DEVELOPMENT AND DEPLOYMENT
The types of new programs that we will consider are ones that are recurring and educational in nature. Programs that are most attractive will be those that have definitive programming time windows, and cater, in a direct manner, to the advancement of multiple early-stage companies.
NEW RESOURCE DEPLOYMENT
We define a resource as a tool that an early-stage company can utilize to aid in its growth. For example, an ESO adopts and provides a software tool to its respective companies that aids in the improvement of their business development processes and practices.
NEW RECURRING EVENT OFFERING
The goal of a new recurring event must be to provide a space that aids in further cultivating the Winston-Salem startup community. While involving local founders in the development and deployment of a grant proposal is required, their involvement in this type of proposal is going to be especially strict.
ACTIVITIES THAT ARE AIMED AT IMPROVING EARLY-STAGE FUNDRAISING
The types of proposals that we will consider are ones that are recurring and, in some way, spotlight or help to improve local early-stage companies’ chances of raising capital. An ESO can do this via educational offerings or through events and programs that are aimed at augmenting investor awareness of local early-stage companies.
ECOSYSTEM-WIDE MARKETING
This type of proposal must be geared towards an ESOs marketing efforts as it relates to core organizational activities. Example, an ESO that is looking to promote its accelerator program to help drive more applicants. The secondary requirement is that the marketing efforts must also promote, in a wider way, the Winston-Salem Entrepreneurial Ecosystem and Startup Community.
GRANT TIMEFRAME
Application Window: November-December
Grant Recipients Notified: January
Grant Cycle: One Year with Quarterly, Need-Based Incremental Payments
APPLICATION QUESTIONS
- Amount of Grant Funds you are seeking.
- Comprehensive description of how the grant funds will be utilized.
- Outline of the implementation timeline for your grant proposal, including important milestones and expected outcomes.
- Budget breakdown that specifies how the grant funds will be utilized.
- Your organization’s business formation documents.
- (Optional) Letter of recommendation from a founder you are currently assisting or have assisted in the past. The letter should highlight the effectiveness of your proposal in supporting the advancement of the startups you assist.