Two Tulsa organizations have received grants totaling more than $640,000 from the US Economic Development Administration (EDA).
36 Degrees North Co. is receiving a Venture Challenge grant of $374,608 and the Tulsa Community Foundation will receive a Capital Challenge grant worth $266,805.
The grants are part of the “Build to Scale” program administered annually by the US Economic Development Administration (EDA). The program aims to accelerate technology entrepreneurship by increasing inclusive access to business support and start-up capital.
36 Degrees North’s grant is for its 50,000-square-foot business incubator that opened in early September at downtown’s One Technology Center, home to City Hall.
The money from the Tulsa Community Foundation is going to “BloomOK: Growing Investment in Virtual Health in Oklahoma.” BloomOK, managed by Tulsa Innovation Labs, supports due diligence activities and provides virtual health expertise to regional investors, including the Oklahoma Life Science Fund, Cortado Ventures, i2E, Atento Capital and regional angel investors.
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An operating division of TCF, Tulsa Innovation Labs leads the development of virtual health programs to create economic opportunity and improve patient outcomes in Tulsa and throughout Oklahoma.
A total of 50 organizations in 26 states will receive grants totaling $36.5 million to support programs that fuel innovation and technology-based economic development.