Brief Description:

Small Business Innovation Fund: All of CLT

The Small Business Innovation Fund: All of CLT will make grants to small businesses to spur innovation and adaptation to the new reality of economic life with a highly contagious virus. Small businesses will need to invest in supplies, training, design, technology, operations, infrastructure or furnishings to adapt their operations or business models. Many will need to pivot their business model. Businesses will need to innovate to stay competitive and advance.

Description:

Small Business Innovation Fund: All of CLT

Charlotte is fortunate to have hundreds of restaurants, breweries, bakeries, coffee shops, salons, retailers, food trucks and other small businesses. Together, these businesses create the vibrancy and character that residents, visitors, workers, and major employers crave. Supporting storefront small business entrepreneurs as they navigate the new economic reality will make all the difference in our success and future competitiveness as an urban economy.

The Small Business Innovation Fund will leverage lessons learned from the initial two rounds to administer a distinct third round with $1.5 million of CARES funds from the City of Charlotte. Round 3 will be able to help small businesses innovate located throughout the City of Charlotte and help create a more resilient vibrancy that residents, visitors, workers, and major employers crave. Charlotte has a strong history of leveraging private-public partnerships to pull off innovative and courageous moves embodied within the Small Business Innovation Fund: All of CLT.

Fund Details:

Small businesses across the entire City of Charlotte are eligible to apply for grants from the fund. There is no priority for specific geographical areas of the city. Applicants will outline their adaptations and innovations that have or will enable them to advance their business. Applicants will detail costs and an ability to implement as well as agree to share their lessons so others may learn from their experience. Grants will be prioritized to small businesses that create unique experiences for neighborhoods, including storefront businesses, distinctive products or services, and/or exceptional community engagement. Adaptations and innovations with the potential to replicate, scale, or foster collaboration will be prioritized in the review process.

Eligibility:

Small businesses must have an existing physical location in the City of Charlotte, NC
The business headquarters is located within the Charlotte region
The business had 50 employees (full and part-time) or fewer as of March 1, 2020
The business experienced adverse impacts due to the COVID-19 pandemic

Priority to:

Small businesses that create unique experiences for neighborhoods, including but not limited to storefront businesses, distinctive products or services, and/or exceptional community engagement
Innovations and adaptations with potential to replicate and scale or create multi-sector collaborations

Application Timeline:

October 26th: Grant program will open at noon
October 28th: Pre-application conference to provide insights and answer questions about the process
November 9th: Grant program will close at noon

Please note that this is a competitive program and applications are anticipated to exceed dollars available.

For additional information about eligibility and requirements, please visit www.charlottecentercity.org/innovationfund/.

If you have questions about the application, please contact cccpinnovationfund@fftc.org.