Five small businesses from the greater Newark area have received state grants to help grow their operations.
Announced last week, the companies are among 10 businesses statewide selected in the fifth round of the Encouraging Development, Growth and Expansion (EDGE) grants program.
EDGE grants are open to businesses that are less than five years old and employ no more than 10 employees. STEM-based companies can receive up to $100,000 for eligible expenses while non-STEM businesses can receive up to $50,000.
The grants match a winning business’s investment on a 3-to-1 basis. The business can spend the funds on expenses that help improve the company’s long-term chances of success, such as a marketing campaign to help acquire more customers or purchasing a needed piece of equipment that can increase production capacity.
“With more than 25,000 small businesses in Delaware that employ more than half of our state’s workers and account for at least $11 billion in wages, small businesses are vital to our state’s economy,” Secretary of State Jeff Bullock said in a prepared statement. “The EDGE grant program provides these creative, driven entrepreneurs with the capital they need to start or grow their business and reach their full potential.”
Since the program launched in 2019, $3.75 million has been awarded to 60 promising Delaware small businesses in industries ranging from wearable medical devices to farming to restaurants.
Local recipients include:
Carbon Reform: Headquartered in Pencader Corporate Center, Carbon Reform has developed a proprietary modular carbon dioxide capture technology called the Carbon Capsule. The device retrofits into a commercial building’s ventilation system and is able to improve indoor air quality for occupants, create energy savings for building owners, and directly capture and repurpose tons of carbon dioxide annually into a valuable limestone byproduct. Carbon Reform will use its EDGE Grant funding to secure the purchase of capital equipment to get them to the next stage of development, including manufacturing their first 10 Carbon Capsule commercial units.
Cosmos Pharmaceuticals: The company developed a solution to combat prescription medication abuse and improve individualized patient care by introducing a simple personalized medication lock called FortisKap. The device secures a patient’s prescription with a unique biometric signature and tracks robust medication usage throughout the course of treatment. Currently located in Middletown, the company will use its EDGE grant to rent office space at the STAR Campus at University of Delaware. It also plans to buy equipment needed to commercialize its product.
G-Flash LLC: Located in Delaware Technology Park, G-Flash LLC is working to bring Green Flash Chromatography to commercialization for the pharmaceutical industry. Flash chromatography is a method of chemical separation used to purify chemical mixtures into individual constituents. The company will use its EDGE grant funding to quickly commercialize its latest technology, as well as integrate new unit hardware and software.
Creekview Psychological Assessment: Creekview Assessment Center on Creek View Road in Newark is a small private group practice of clinical, school, and neuropsychologists. The business provides specialized psychological testing including, autism, psychoeducational, and disability evaluations. The business will use its EDGE grant funding to further invest in cutting edge technology for psychological test administration, marketing, and training other providers throughout Delaware.
STATS Tournaments: Located on Wrangle Hill Road in Bear, the outdoor baseball facility uses sports to encourage youth success beyond the field. What started as a tournament management endeavor has grown into a full-service facility that serves over 300 teams, hosts about 600 games, and 12 baseball tournaments annually. The business will use EDGE funding to build two grass convertible fields, which will allow STATS to accommodate an additional 240 Little League, high school, college and travel baseball teams, as well as six more tournaments annually.