Business Development Public Private Partnership
This funding opportunity supports organizations in Massachusetts that aim to attract and develop businesses aligned with the state's economic priorities through strategic partnerships and targeted initiatives.
This opportunity supports a long-term public-private partnership to extend Massachusetts' business development efforts. Working with the Executive Office of Economic Development, the selected organization will identify and recruit companies aligned with the Commonwealth's strategic industry priorities, build a pipeline of prospective firms, cultivate strategic partnerships, and support business attraction, expansion, market entry, and advocacy activities. Eligible applicants include nonprofit, economic development, business, private-sector, public-private partnership, consortium, and sponsor entities with the capacity to carry out the initiative, including applicants proposing to form a new entity for this purpose. Grant funds may be used for operating and program delivery costs such as personnel, marketing, international business development, travel, stakeholder engagement, market research, professional services, digital platforms, and related administrative expenses. The award requires a dollar-for-dollar private or other eligible non-public match, with Commonwealth funds released after verification of qualifying contributions. In-kind contributions do not count toward the match requirement.
Award Range
Not specified - $1
Total Program Funding
Not specified
Number of Awards
Not specified
Matching Requirement
No
Additional Details
The award requires a dollar-for-dollar (1:1) match using eligible non-public funds, and in-kind contributions do not count. Applicants may receive up to $1,000,000 in Year 1, with potential funding up to $2,000,000 in Year 2 and $3,000,000 in Year 3 subject to extension. Commonwealth funds are released upon verification of qualifying private commitments and are subject to quarterly performance reviews.
Eligible Applicants
Additional Requirements
Applicants must be qualified organizations able to serve as an extension of the Commonwealth's business development efforts in Massachusetts. Eligible applicants include nonprofit, economic development, business, private-sector, public-private partnership, consortium, and sponsor entities, including applicants intending to form a new entity. Funded work includes implementation and administration of the partnership and related business development, marketing, engagement, research, and program operations activities. Eligible work includes personnel costs; International business development and prospecting activities; Marketing, branding, and promotional activities; Travel and business development missions; Hosting engagement activities; Market research and lead generation tools; Professional services; Development and maintenance of digital platforms; Administrative and operational expenses; Coordination with state agencies.; Business Development; Marketing; Risk Management; Compliance Agreements; Financial Management; Performance Management; Operational Capabilities; Transition Planning; Sustainability Strategies; Public Benefit Development; Budgeting Support; Job Creation Initiatives; Community Engagement; Infrastructure Improvement.
Geographic Eligibility
All
Application Opens
Not specified
Application Closes
Not specified
Grantor
Johana Muriel
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