A Community-Driven Blueprint for Federal Grant Success

Pursuing and winning a significant Economic Development Administration (EDA) grant requires more than expert grant writing—it demands the following:

policy/program insights
product/market knowledge
a strategic approach to assessing the competitive landscape
a compelling narrative
engagement from the public and private sectors
significant partnership from the state

The TechHubNow! (THN!) team worked collaboratively with the Governor’s office and the leadership of the Office of Economic Development and International Trade (OEDIT) across Colorado’s technology ecosystems to develop and implement a rigorous process, ultimately leading to positive outcomes for the State. I am sharing our approach and key learnings here.

The Four Phases to Success

PHASE 1: MAKING THE STRATEGIC DECISION: CAN YOU COMPETE? CAN YOU WIN?

Before investing time, energy, and talent in a federal grant application, it’s important to answer two critical questions:

Can you compete?
Can you win?

As an advisory board member of the National Advisory Council on Innovation and Entrepreneurship (NACIE), I had an opportunity to study the Chips and Science Act and the Regional Innovation Hub (Tech Hub) opportunity.

These key insights triggered my excitement about Colorado’s opportunity:

Colorado’s history as a tech ecosystem
Colorado’s decades-long advanced industries strategy
Colorado’s support infrastructure, including OEDIT and the Economic Development Commission (EDC)
Colorado’s world-class research institutions
Colorado’s connections to 30+ federal labs
Colorado’s “Give First” spirit to support entrepreneurs

To determine whether Colorado could compete and win, I collaborated with a core team of advisors, JB Holston, Brooks Johnson, and Eve Lieberman, to analyze the TechHub Notice of Funding Opportunity (NOFO). Our diverse perspectives as entrepreneurs, ecosystem builders, and economic development leaders helped us recognize that Colorado had a real shot at success. It was only then that we formally established TechHubNow! in April 2023.

PHASE 2: ENGAGING ADVANCED TECHNOLOGY ECOSYSTEMS ACROSS THE STATE

Rather than relying on a small committee to select the advanced technology areas, THN! collaborated with OEDIT to create an inclusive process, encouraging various tech ecosystem leaders across the state to present their hypotheses. THN! Worked closely with six teams from across the state to understand their strengths and weaknesses related to the EDA’s Notice of Funding Opportunity (NOFO) strategy and how each could be best positioned for the opportunity. This approach proved invaluable—without this process, Colorado might have overlooked quantum technology, which ultimately won an EDA Tech Hub grant.

We enhanced our evaluation process by partnering with Boston Consulting Group (BCG), which provided market analysis and data. This information gave us crucial context about market sizes and regional strengths/weaknesses for each potential application.

PHASE 3: RUNNING A PROCESS

We formed an advisory investment committee reflecting the consortium criteria specified in the NOFO. This committee included venture investors, industry experts, academics, workforce development leaders, entrepreneurial support organizations, and government representatives. They assessed the presentations from six teams using a comprehensive scoring rubric to determine which proposals would be advanced with the support of TechHubNow! Although we anticipated some teams would be disappointed not to be selected to compete, the approach guaranteed that we invested resources in the teams best suited to compete and win.

Of all the teams that presented, Elevate Quantum and Colorado Cleantech Connect were the most competitive against the scoring rubric. Once our expert panel identified these top two teams, we strategically aligned and applied our resources to the application process. BCG was eager to support the effort, as was the philanthropically supported Community Funding Accelerator (CFA), which brought in Delivery Associates and GTC 360° Advisors.

PHASE 4: SECURING THE DESIGNATION

On October 23, 2023, Elevate Quantum received a Quantum Tech Hub designation from the EDA (among 31 other hubs selected nationally). Corban Tillemann-Dick, CEO of Maybell Quantum and chair of Elevate Quantum, and Zachary Yerushalmi, CEO and Regional Innovation Officer of Elevate Quantum, brought deep industry expertise, and the EDA was clear that industry leadership would impact a “win.”

Only then did we return to our consulting resources to understand who wanted to continue to invest through phase two of the competition, allowing Colorado and Elevate Quantum to compete for the first tranche of federal funding and ultimately up to $1 billion over five years. Delivery Associates and GTC 360° Advisors were critical in strategic planning, consortium development, workforce strategy, career pathway design, and comprehensive proposal writing and management. Our team of experts supported the next phase of work and helped us get over the finish line. Additionally, the state, including Colorado Governor Polis (a former tech entrepreneur) and OEDIT, going “all in” on this opportunity made all the difference.

On July 2nd, 2024, Elevate Quantum received $40.5 million in investment from the U.S. EDA Regional Technology and Innovation Hubs Program, which unlocked additional funding from the States of Colorado and New Mexico, totaling $127 million.

KEY SUCCESS FACTORS

Leveraging Strong Industry Leadership and Validation

Our probability of success was strengthened by having entrepreneurs and industry experts who continuously pressure-tested our hypotheses alongside our consultants. Their deep industry knowledge helped architect a compelling narrative that resonated with evaluators and demonstrated real-world viability.

Identifying a High Impact, Multi-Disciplinary Team

Our success stemmed from a 24/7 committed core team where each member brought unique expertise and strategic connections. The consortium-driven approach, combined with deep data analysis and product/market knowledge, put us ahead of other regions.

Strategic Planning Together

Critical best practices included:

Forming a core advisory group early to assess competitiveness
Engaging key stakeholders (EDA regional office, state officials, a federal delegation and other advisors)
Leveraging existing relationships with consulting firms and other resources
Tuning in to learnings from NACIE work about the future goals of the Tech Hub Program

Ripple Effects for the Region

The process yielded broader benefits than just the winning grant. Of the six original teams that were evaluated by TechHubNow!:

Elevate Quantum received the federal designation as a Tech Hub and received $40.5M in funding from the EDA, an additional $74.4M in state commitments, and over $1B in private capital and industry collaborations
Two tech hub teams received significant TechHubNow! support
Three others secured State funding to launch their ecosystem

Winning a major federal grant demands more than expert grant writing—it requires the strategic integration of policy insights, market knowledge, public-private collaboration, and competitive analysis, all bound by a clear and compelling narrative. TechHubNow!’s collaborative community driven process proved this approach works: we engaged the entire innovation ecosystem, deployed targeted resources, and helped multiple teams strengthen their competitive positions. Following this comprehensive approach, we helped to secure federal funding and strengthened Colorado’s entire tech ecosystem at the same time.