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Delaware Division of Small Business Announces Milestone for EDGE Program

DOVER, DE — The Delaware Division of Small Business announced a significant milestone for its Encouraging Development, Growth and Expansion (EDGE) competition on Thursday. The program, designed to support small businesses in their formative years, awarded grants to ten more companies, bringing the total number of grant recipients to 100 since its inception in 2019.

Among the latest winners are diverse enterprises with innovative visions. These include a company tackling severe allergic diseases and cancer, a Wilmington-based startup developing an app to teach baseball to underserved children, a Seaford company expanding pie deliveries, and a Dover business opening a second location for infertility counseling.

“Since we launched the EDGE grant program in 2019, the aim has been to give small businesses an ‘edge’ over their competition,” said Governor John Carney. “I’ve been impressed every year with the innovation and creativity of business owners across the state, and what EDGE grant winners have done with their awards to advance their business.” Governor Carney expressed pride in delivering crucial funding to 100 small businesses and congratulated this year’s winners.

Deputy Secretary of State Kristopher Knight emphasized the importance of small businesses to Delaware’s economy. “Small businesses create economic diversity in our state by helping create new industries and markets,” Knight said. “They try new ideas which can spur development of new products and services, shining a spotlight on the place we call home.”

The EDGE program has distributed $6.51 million to promising Delaware small businesses since its launch. Companies eligible for these grants must be less than seven years old and employ no more than ten full-time employees. The grants are awarded through a competitive selection process. For this round, 14 finalists presented their proposals to an expert panel, resulting in ten awardees. Each round, five STEM-based companies receive up to $100,000, while five non-STEM businesses receive up to $50,000.

Regina Mitchell, Director of the Division of Small Business, praised the program’s impact. “Each awardee today, and each applicant who applied, had a story to tell about how they want to make our state, and the lives of the people who live here, better and easier through their proposals,” Mitchell said. “We’re excited for the winners and pleased to contribute to their journey.”

This milestone is particularly significant as it highlights the role of small businesses in driving economic growth and innovation. Programs like EDGE provide essential funding and support to startups, enabling them to develop new products, enter new markets, and create jobs. By investing in small businesses, Delaware fosters a more diverse and resilient economy capable of adapting to changing market conditions.

The success stories emerging from the EDGE program demonstrate the potential of small businesses to make meaningful contributions to their communities. From medical technology to local cuisine, these enterprises not only bring new products and services to market but also enhance the quality of life for Delaware residents.

As the state looks forward to the next round of the EDGE program, set to open in August, the continued support for small businesses will be crucial. These grants represent more than financial assistance; they are an investment in the future of Delaware’s economy and the well-being of its citizens.

The achievements of the EDGE program highlight the importance of nurturing small businesses and providing them with the resources they need to thrive. As these companies grow, they pave the way for innovation, job creation, and economic prosperity in Delaware.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.

How AI legalese decoder Can Help

The use of AI legalese decoder can be beneficial in this situation to ensure that the legal language and requirements surrounding the EDGE program are accurately interpreted and understood. AI legalese decoder can help small businesses navigate the application process for grants, understand the terms and conditions of receiving funding, and comply with any regulatory obligations that come with being a grant recipient.

By using AI legalese decoder, small businesses can easily translate complex legal documents and jargon into plain language, allowing them to make informed decisions and fully grasp the implications of participating in programs like EDGE. This can prevent misunderstandings, legal disputes, and compliance issues, ultimately helping small businesses make the most of the opportunities presented to them through initiatives like the EDGE program.

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