Startup Junkie has received a $650,000 CARES Act Recovery Assistance grant to impact Northwest Arkansas small businesses affected by the COVID-19 pandemic.
The U.S. Department of Commerce’s Economic Development Administration (EDA) awarded the grant to the Fayetteville-based entrepreneur support organization. This grant is aimed at encouraging private investment in a nearby Northwest Arkansas Opportunity Zone.
Dana Gartzke, Assistant Secretary of Commerce for Economic Development, said that the grant will help small businesses by allowing Startup Junkie to provide consulting services and to connect entrepreneurs with essential resources and experts.
“We are excited to partner with the EDA to provide critical resources and support to our community in this time of need,” Startup Junkie Foundation executive director Taylor Hasley said in a statement. “These funds will enable us to carry out our mission of empowering innovators and entrepreneurs with a specific focus on recovery and resiliency as we expand our service area to include the entire NWA Economic Development District.”
The EDA grant will be matched with $192,000 in local funds. According to a Startup Junkie news release, this project was enabled by the Northwest Arkansas Economic Development District (NWAEDD) and its regional planning efforts.