Technology Industry-related Businesses in Illinois
Grant Name: Technology Industry Grant Donor: City of Peoria, Illinois Type: Grant Deadline: Ongoing Grant Size: $10,000 - $25,000 Description: The Technology Industry Grant offers funding to technology-related businesses looking to establish or expand within the city of Peoria. Eligible industries include Agricultural Technology (AgTech), Biological Medical Technology (BioTech), Medical Technology (MedTech), and other technological advancements. Applicants should demonstrate established seed funding, a proof of function prototype, and a plan for further product development. The program aims to attract technology businesses, stimulate public and private investment, introduce new technology to the area, and support commercial space activity in business districts. Priority locations for funding include the Medical District, Central Business District, and West Main Street within the city boundaries. Eligible uses of the grant include lease or mortgage assistance, operational expense support, and other business costs related to the newly opened location. Small businesses with 50 or fewer full-time equivalent employees are eligible to apply if they meet all criteria outlined by the City of Peoria. For more information and application details, visit City of Peoria website.
Award Range
$10,000 - $25,000
Total Program Funding
Not specified
Number of Awards
Not specified
Matching Requirement
No
Eligible Applicants
Additional Requirements
A small business is defined as a commercial enterprise that is independently owned, operated, and controlled, and has 50 or fewer full-time equivalent employees (under 2,000 payroll hours per week) at the time of application. Payment of all property taxes and/or assessments, general and special, must be current. Neither the owner of record, the tenant, nor any of their principals may be in default of any obligations to the City, including, but not limited to, fines, ordinance violations, debts, or otherwise (including personal property taxes and fees owed to the city). Applicant business structure should be incorporated or a Limited Liability Company (LLC) to receive funds. An Employer Identification Number (EIN) is required for application, applications without EIN will not be accepted. Business must have a Research/Innovation Technology NAICS code. Seed funding phase or after (seeking outside money in exchange for equity). International companies must demonstrate ability to operate within the United States. A proof of function prototype must be available. Not specify any deadline or rolling basis
Geographic Eligibility
City of Peoria
Application Opens
July 21, 2023
Application Closes
Not specified
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