MARQUETTE – “Syncurrent, First AI Startup To Get Funding From USDA Rural Development” A Marquette-based technological startup, is the first artificial intelligence startup to secure grant funding from the United States Department of Agriculture Rural Development.
1. How Is Syncurrent Using USDA Funding to Support Rural and Tribal Communities?
Syncurrent has secured a $100,000 Rural Business-Cooperative Service Agreement. This funding will empower Syncurrent’s AI-powered platform to assist rural, underserved communities and tribal nations in navigating the complexities of the grant ecosystem.
Despite the availability of over one trillion dollars in grant funding for small governments each year, many local governments and tribal nations face significant challenges. These challenges include
- Limited staff
- Insufficient resources, and
- Difficulty navigating the intricate grant funding process
To address these challenges, Syncurrent’s AI platform streamlines the process of identifying funding opportunities. It transforms the typically labor-intensive process into an automated system. This system delivers a customized list of relevant funding opportunities from federal, state, and philanthropic sources. These opportunities are specifically tailored to the eligibility criteria of each community.
2. Why Local Governments Trust Syncurrent for Grant Funding Solutions
“Our AI platform empowers local governments and communities,”
said Dhruv C. Patel, co-founder and CEO of Syncurrent.
“This enables them to pursue the funding they are eligible for more thoughtfully. They can skip right to the application process for ideal grants. This is a significant improvement compared to navigating the tens of thousands of grants from multiple different sources. It’s uncertain whether they might qualify for these grants.”
“We are grateful for the USDA’s commitment to investing in innovation,” Patel continued. “This aligns perfectly with our shared mission of lifting up rural communities.”
3. How Does Syncurrent Simplify Grant Searches?
Making grant discovery easier for underserved communities, Local governments and tribal nations simply need to submit their governmental unit’s name. Syncurrent’s platform then takes over, scouring the internet, including major federal databases like Grants.gov.
This streamlined process addresses the access discrepancies and funding gaps that often plague rural areas and tribal nations. By efficiently identifying relevant grant opportunities, Syncurrent empowers these communities to secure the resources they need.
4. Syncurrent Funding After ARPA for Michigan Rural Communities:
The Peter G. Peterson Foundation reports that federal grants typically account for 17% of a municipality’s annual budget. While the American Rescue Plan Act (ARPA) provided crucial support during the pandemic, its funding has a deadline. ARPA regulations require local governments to return any unspent funds by December 2024. Consequently, communities must actively seek alternative funding sources to continue supporting their residents.
“Michigan’s rural communities have told us time and again they struggle with awareness of federal funding sources available to them, and with the capacity to apply for funding when they become aware of it,”
said Valarie Handy, Acting State Director for Michigan at USDA Rural Development.
“We are enthusiastic about supporting Syncurrent’s pilot program. This program will empower rural communities to leverage artificial intelligence in their search for federal and state investment opportunities.”
5. Syncurrent Addressing Data Sovereignty for Tribal Nations:
Syncurrent champions data sovereignty, the principle that data is subject to the laws and regulations of its origin. This includes the right to control its collection, storage, processing, and distribution. Data sovereignty is particularly crucial for tribal governments. With 12 tribal governments in Michigan alone, these entities possess the inherent right to govern their people, lands, and resources, including their data.
6. Community Pilot Initiative by Syncurrent in Michigan:
Six Michigan-based communities will be selected to participate in a pilot program implementing Syncurrent’s AI platform. This initiative is supported by USDA Rural Development.
Benefits for Participating Communities:
- Immediate Access: Selected communities will receive immediate access to Syncurrent’s platform and implementation team.
- Tailored Grant Discovery: The platform helps them identify grants specifically aligned with their unique needs.
- USDA Support: They will also benefit from the expertise and guidance of the USDA Rural Development team.
Interested communities and tribal nations can apply for participation by contacting [email protected].
7. Syncurrent’s AI Technology Benefits For Underserved Populations:
By collaborating directly with these communities, Syncurrent aims to refine and expand its AI technology. The goal is to serve a broader range of underserved populations effectively.
“Syncurrent is driven by a commitment to make a positive impact for underserved communities,” said Matthew Jaquez, co-founder and COO of Syncurrent. “We focus on helping them access resources, govern their data, and drive local economic growth. By working closely with these communities and governments, we will use their feedback to modify and enhance Syncurrent according to their needs.”
8. Timeline for Selecting Pilot Communities:
Syncurrent anticipates a flexible process for its pilot program. It aims to select participants by December 11, 2024. Announcements regarding the program’s effectiveness and future partnership opportunities will be made later. Syncurrent is committed to becoming a long-term, sustainable partner for underserved communities.
9. Syncurrent’s Roots in Rural Development:
Syncurrent’s journey began when co-founders Dhruv Patel and Matthew Jaquez collaborated on a business intelligence tool for Innovate Marquette SmartZone. This tech hub, part of the Michigan Economic Development Corporation (MEDC), focuses on rural entrepreneurship. Support from Innovate Marquette SmartZone and key advisors, such as CEO Joe Thiel, helped Patel and Jaquez develop the consulting firm HIVE, which laid the foundation for Syncurrent.
10. About USDA Rural Development:
- Supports economic opportunities, job creation, and improved quality of life in rural areas.
- Provides loans and grants to achieve these goals.
- Areas of assistance include:
- Infrastructure improvements
- Business development
- Housing
- Community facilities (schools, public safety, healthcare)
- High-speed internet access4. Focuses on rural, tribal, and high-poverty areas.
For more information: Visit www.rd.usda.gov/.
11. Key Points About Syncurrent:
- AI technology startup founded in 2022 in Marquette, Michigan.
- Mission: Bridges the funding access gap for tribal nations and rural communities.
- Solution: Provide a platform that connects these communities with customized funding opportunities (federal, state, philanthropic).
- Value Proposition: Empower communities to pursue funding with greater ease.
- Data Sovereignty Focus: Emphasizes data sovereignty, allowing communities to control their data.
- Strategic Location: Located in Marquette, a rural area neighboring five tribal nations, providing valuable insights and understanding of the challenges faced by these communities.
For more information, visit http://www.syncurrent.com/.
To subscribe to USDA Rural Development updates, visit the GovDelivery Subscriber Page.
Final Thoughts:
“Syncurrent First AI Startup to Get Funding from USDA Rural Development”, This is a significant milestone for Syncurrent and a promising development for rural communities across the nation. Syncurrent’s innovative approach to grant discovery has the potential to revolutionize how these communities’ access vital resources.
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FAQs:
1. What is Syncurrent?
Syncurrent is an AI-powered technology startup that helps rural communities and tribal nations find and apply for grants.
2. Why is USDA Rural Development supporting Syncurrent?
USDA Rural Development provides funding and resources to expand economic opportunities and improve the quality of life in rural areas, making Syncurrent’s mission a perfect fit.
3. What kind of assistance does USDA Rural Development offer?
USDA Rural Development provides loans and grants for infrastructure improvements, business development, housing, and community facilities, among other services, to support rural and tribal areas.
