EDA Issues Final Rule for the Regional Innovation Series Program
The U.S. Economic Development Administration (EDA) issued a final rule applicable to the Regional Innovation Strategies (RIS) Program last Thursday. Launched in 2014, EDA through its RIS Program, awards grants for capacity-building programs that provide proof-of-concept and commercialization assistance to innovators and entrepreneurs and for operational support to organizations that provide essential early-stage funding to startup companies. Since inception, EDA has invested approximately $40 million dollars and awarded 98 grants to increase the economic competitiveness and improve the quality of life of communities across the country. The rule will become effective on February 10.