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Expanding programming through ‘Build to Scale’ grant

October 18, 2022//by Hutch
Expanding programming through ‘Build to Scale’ grant

New programming and expanded support is coming to Hutch thanks to a “Build to Scale” grant.

Awarded by the U.S. Department of Commerce’s Economic Development Administration (EDA), Build to Scale” grants accelerate tech entrepreneurship by increasing inclusive access to entrepreneurial support and startup capital.

“EDA is proud to partner with this year’s ‘Build to Scale’ grantees as they invest in entrepreneurs and create equitable access to capital in their communities,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo in a release from EDA. “These projects will give the next generation of industry-leading companies a seminal boost that will result in job creation and private investment – potentially transforming a regional economy and creating economic opportunity beyond what we can foresee.”

Our joint grant with the Baltimore Development Corporation is one of 51 grants. The EDA is awarding $47 million in grants as part of the program.

$48 million in matching funds is available from private and public sector sources.

“We’re excited and honored to receive this grant award from the EDA with our partner BDC. Collaborative funding partnerships are integral in closing the gap for access and opportunity for people of color and women. This funding will allow Hutch to scale our ability to grow. We’re creating thriving ecosystems of companies positioned to deliver and compete in the federal marketplace,” Fearless CEO and Hutch Founder, Delali Dzirasa said.

With our “Build to Scale” grant, we plan to build capacity to scale, growing 45 digital services firms by 2025. This funding enables us to nearly double the number of entrepreneurs we serve. We’re connecting mentors, digital services experts, and government administrators.

Our plans for our Build to Scale grant include:

  • Bootcamp Immersion Experiences:

    • Mini-accelerator programs in topic-specific areas such branding, strategic planning, proposal development, and more

  • Financial Aid:

    • Reduce the barriers remote participants experience to access coaching

  • Nationwide Partner Engagement:

    • Leverage a broad network of digital services firms to deploy our curriculum nationwide

  • Mentorship:

    • Each company will be paired with two mentors. A Domain Mentor within their targeted federal agency and a Capability Mentor within their technical capability

Hutch Program Manager, Stephanie Chin adds, “This grant directly aligns with GSA’s Equity Action Plan. The plan looks to integrate a higher level of diversity, equity, and inclusion into federal contracting. This paves the way for smaller, minority-owned businesses to compete for federal contracts. With Hutch support, our companies have been able to add 27 new jobs and generate $2.3 million of new revenue.”

Our partner on the award, BDC, is a nonprofit economic development organization for the City of Baltimore

BDC strives to grow a more equitable economy for the city. BDC promotes investment in neighborhoods affected by institutional racism and/or generational poverty. The organization works to retain, expand, and attract minority and women-owned businesses.

“We’re committed to building a more equitable and inclusive economy here in Baltimore as well as developing economic development strategies that are more diverse and inclusive. This grant from the EDA is an example of the types of funding we are trying to attract in Baltimore to support more entrepreneurs of color and provide them with the resources needed to build and scale successful businesses in the city. We’re excited about our partnership with Fearless and Hutch to work towards these goals,” said Colin Tarbert, President & CEO of BDC.

We expect to launch new programming in 2023.