Tech Incubator Enhancement Program

The Illinois Department of Commerce and Economic Opportunity (DCEO) is offering the Tech Incubator Enhancement Program (TIEG) through a state-funded grant opportunity. The program aims to support the enhancement and expansion of technology incubators throughout Illinois, fostering economic growth and innovation. The funding opportunity is identified as Notice of Funding Opportunity (NOFO) 3503-2943, with an anticipated total program funding of $7,000,000. Up to 15 awards will be distributed, with grant amounts ranging between $10,000 and $3,000,000. The purpose of this grant is to strengthen and enhance the infrastructure and capacity of technology incubators, thereby fostering a more robust entrepreneurial ecosystem. Eligible applicants may use the funding to develop new incubator facilities, expand existing incubators, provide mentorship and business development services, or support technology-based entrepreneurs. By investing in technology incubators, the program aims to boost job creation and stimulate economic development across Illinois. Funding from this grant may be applied toward expenses related to incubator facility improvements, operational costs, training and mentorship programs, and other activities that enhance the services and sustainability of tech incubators. However, indirect costs are not allowed under this program. Additionally, cost-sharing or matching contributions are required, though the specific percentage or amount is not stated in the provided materials. Eligible applicants include organizations that operate or plan to operate technology incubators within the state of Illinois. The program does not specify additional eligibility restrictions, but applicants must be pre-qualified before submitting their applications. Pre-qualification requirements and resources are available through DCEO’s learning library. The application period for this grant runs from January 15, 2025, to March 17, 2025, with a submission deadline of 5:00 PM CST on the final day. While participation in a technical assistance session on January 24, 2025, at 2:00 PM CST is optional, it is encouraged to help applicants navigate the application process. A registration link for the session is provided. To apply, applicants must complete the required forms, including the NOFO Supplement, Program Application, Uniform Grant Application, Uniform Budget Template, and disclosures related to mandatory reporting and conflicts of interest. Additional details and application materials are available on the DCEO website.