Grants and Scholarships for Entrepreneurs: What's Available and How to Apply

Grants and scholarships for entrepreneurs fall into a few distinct categories: federal programs tied to research or exporting, private corporate contests open to small businesses, scholarships for students studying entrepreneurship, and targeted funding for underrepresented founders. None of them have to be paid back — but most are competitive and come with specific eligibility requirements.

Federal grants for small businesses are narrower than most people expect. The SBA is clear that its direct grant programs are limited to scientific research and development, community entrepreneurship support, and exporting — not general business startup costs.

The 2 main federal grant programs for entrepreneurs are the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program. Both fund R&D with commercial potential. SBIR Phase I awards can reach $150,000 for early-stage research; Phase II awards can reach $1 million for continued development. STTR requires a formal collaboration with a U.S. research institution.

If your business exports or wants to start exporting, the SBA's State Trade Expansion Program (STEP) provides federal funds to states and territories to help small businesses cover costs like international trade shows, foreign trade missions, and export marketing. STEP grants go to state governments first, which then distribute them to eligible businesses — so check with your state's trade office.

For a broader search across all federal agencies, Grants.gov is the central portal. Most listings there are for nonprofits or research organizations rather than individual business owners, but it's worth searching by eligibility type to see what's open to for-profit businesses.

Private and corporate grant programs are where most entrepreneurs find real opportunities. These are competitive contests run by corporations, foundations, and industry associations — and unlike federal programs, they're not limited to research businesses.

The FedEx Small Business Grant Program, for example, has awarded more than $230,000 across 10 small businesses in a single cycle — which shows how competitive these programs are and how much the amounts vary. Some programs focus on specific industries like food, beauty, or hospitality and combine funding with mentorship or accelerator access.

Many private grants are restricted to specific applicant profiles — women, veterans, people of color, or owners in low-to-moderate income communities. If you fit one of those categories, your odds improve significantly because the applicant pool is smaller. The U.S. Chamber of Commerce maintains a running list of open programs worth bookmarking.

Entrepreneurship scholarships are gift aid for students — they don't have to be repaid and are designed to help entrepreneurially minded students access higher education. Most are institution-specific, meaning you have to be enrolled at the school offering them.

NC State's Entrepreneurship Scholarships go to students who demonstrate outstanding achievement or involvement in entrepreneurship activities, with applications managed through the university's internal aid system. Michigan State offers several named scholarships — including the Bhanusali Innovation Scholarship and the Bradbury Endowed Scholarship for Student Entrepreneurship — for students building ventures or studying entrepreneurship.

Common eligibility requirements across entrepreneurship scholarships include a minimum GPA (often 3.0 or higher), evidence of leadership or community involvement, U.S. citizenship or residency, enrollment in an accredited program, and sometimes FAFSA submission. Check your school's financial aid office and entrepreneurship department — many scholarships go unclaimed because students don't know they exist.

Several grant programs are built specifically for entrepreneurs from underrepresented communities. These programs tend to be more accessible than general business grants because the eligible applicant pool is smaller and the funders are explicitly trying to close a funding gap.

• NAACP Powershift Entrepreneur Grant — awards $25,000 to selected Black-owned businesses along with access to entrepreneurial resources. Open to both rising and established Black entrepreneurs in the U.S.
• HerRise MicroGrants — administered by HerSuiteSpot, these $1,000 monthly grants go to women-of-color–owned businesses in the U.S., targeting early-stage ventures where a small amount of capital can close a real gap.
• IFundWomen — a national platform connecting women-owned businesses with private grant programs, including recurring opportunities sponsored by corporate partners.
• SBA Minority-Owned Business program — doesn't provide direct grants to all minority-owned firms, but offers counseling, contracting assistance, and access to some competitive funding for entrepreneurs from underserved communities.

The Minority Business Development Agency (MBDA), part of the U.S. Department of Commerce, also periodically offers competitive grant opportunities — though most go to organizations that serve minority entrepreneurs rather than directly to individual business owners.

We run 2 grant programs for entrepreneurs at different stages — one for students and one for adults ready to start or build a business. Both award $2,500 in non-repayable funding.

Young Entrepreneur Scholarship Grant

This $2,500 scholarship is for students with entrepreneurial ambitions who want to continue their education. 1 recipient is selected per cycle.

• Must be a high school senior, undergraduate, graduate, or trade school student
• Must attend a U.S.-based high school, trade school, or university
• Must hold a GPA of 3.0 or higher
• Must have an interest in starting a business

To apply, complete the online application, submit a 2-minute video explaining how entrepreneurship will shape your life, and include a sample business plan.

Fresh Start Business Grant

This $2,500 grant is for adult entrepreneurs who are starting a new business or making a significant move to build an existing one. The winner also receives free business formation services. 1 recipient is selected per cycle.

• Must be 21 years or older
• Must be a U.S. resident
• Must be planning to start a new business or build an existing business in a significant way

Finding the right grant takes more time than applying for one. Most entrepreneurs who win grants spend weeks researching programs before they write a single word of an application.

Start with the sources most relevant to your situation. If you're in research or tech, check the SBA's SBIR and STTR listings at sba.gov/funding-programs/grants. If you're a student, start with your school's financial aid office and entrepreneurship department. If you're a woman, person of color, or veteran, search IFundWomen, the NAACP Powershift program, or the U.S. Chamber of Commerce's grant directory.

For federal opportunities across all agencies, search Grants.gov and filter by applicant type. Most listings there are for nonprofits or research institutions, but filtering by "for-profit organizations" narrows the results to what's actually open to you.

When you apply, read the eligibility requirements before anything else. Many programs require existing revenue, a minimum operating history, or a specific business type — and applying without meeting those criteria wastes your time. A strong application typically includes a clear business plan, a specific use of funds, and evidence that you've already taken steps to build the business.