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MEMPHIS, Tenn. (AP) — The College of Memphis and two organizations that encourage entrepreneurship in Tennessee have acquired a complete of $4.2 million in grants from the U.S. Division of Commerce, officers mentioned.
The grants offered by the Commerce Division’s Financial Improvement Administration are a part of the so-called Construct to Scale program, which supplies funds to organizations that help know-how entrepreneurs, encourage innovation and gas financial development, the division mentioned in a information launch Wednesday.
Memphis-based AgLaunch acquired $1.5 million from this system. AgLaunch is a nonprofit that helps begin and develop agricultural firms, its web site mentioned. It plans a undertaking geared towards increasing agriculture infrastructure and know-how whereas attracting agriculture funding in Arkansas, Kentucky, Mississippi, Missouri and Tennessee, the EDA mentioned on its web site.
Nashville-based Launch Tennessee is an financial growth group that groups with the state of Tennessee to make assets accessible for startup firms, its web site mentioned. Launch Tennessee acquired $2 million for an business community growth undertaking in sectors together with superior vitality, agricultural know-how, automotive/mobility and life sciences, the EDA mentioned.
The College of Memphis acquired greater than $700,000 to assist launch the Black Wealth Development by New Enterprise and Data Improvement undertaking.
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