ECA News Briefs

Halcyon Receives $1.5M Grant from US Department of Commerce’s Economic Development Administration

Halcyon has received a $1.5 million grant award from the US Department of Commerce’s Economic Development Administration (EDA), the single largest award in the organization’s history.

According to Halycon, the three-year grant will allow for the expansion of its Opportunity Intensive program, which provides a year-long fellowship for social entrepreneurs in Washington DC, whose businesses are based in or serve designated Opportunity Zones located in economically challenged communities where the Federal Government has identified potential for growth.

Image credit: Halcyon.

Halcyon’s Opportunity Intensive launched in 2020 with an initial cohort of ten social entrepreneurs from nine ventures, all based in DC. According to Halcyon, eighty percent of participating fellows are women founders, and 90 percent of participating fellows are Black founders.

Starting in 2021, Halcyon will expand the program to include the entire DC metro region, adding a second cohort which will effectively double the total number of participating fellows.

(Source: Halcyon Press Release; image credit: Halcyon)