Department of Commerce announces $32.5 million in grants from new Small Business Innovation Fund
21 Nov 2022
OLYMPIA, WA – The Washington State Department of Commerce today announced 22 projects conditionally awarded Small Business Innovation Fund (SBIF) grants ranging from $500,000 to $5 million. The total $32.5 million awarded will fund a variety of activities, including:
- small business incubators and accelerators,
- support for local procurement initiatives,
- improvements to physical workspaces in response to public health requirements or acts of vandalism,
- support for small business competitiveness programs focused on hiring and retention, and
- projects that increase the ability of a small business to succeed and thrive.
The Small Business Innovation Fund supports community-based programs and services that meet the needs of BIPOC entrepreneurs, women-owned small businesses, and businesses located in underserved, low-income and rural parts of the state.