The McAllen Chamber of Commerce is currently accepting applications for its Innovation Grant Awards. The awards’ grant funding of $50,000 annually encourages product innovation and business creation in the McAllen area.
Past winners have been able to take their idea from the drawing board to the marketplace due to the grants. An applicant may request up to $10,000 to establish, expand, develop or advance a new product/service idea. The new idea should have the potential to bring in new money into the local economy.
Grants may be used for any of the following:
- new product evaluation
- assessment of commercial potential
- primary or secondary research
- product development
- performance proofing or testing
- test marketing
- patent research
- intellectual property rights procurement
- concept development
- other activities deemed appropriate by the review committee
The McAllen Innovation Grant Awards is a competition. Awards will be given on the basis of being potentially viable ideas and to the best presentations.
The McAllen Innovation Grant Awards is a grant, not a loan, and it does not have to be paid back. The McAllen Chamber will advance the funds as progress dictates. Application guidelines for the grant are currently open.