MARQUETTE – Syncurrenta Marquette-based technology startup, is the first artificial intelligence startup to secure a grant from the United States Department of Agriculture. Rural development.
The financing, an amount of $100,000 Rural business cooperative service The deal will enable Syncurrent’s AI-powered platform to help rural, underserved communities and tribal nations navigate the complexities of the grants ecosystem.
While more than a trillion dollars in grants are made available to small governments each year, many local governments and tribal nations lack the staff, resources and capacity to manage the enormous complexities of grant funding. To solve this problem, Syncurrent’s AI platform transforms funding identification, a typically labor-intensive process, into an automated process that provides a personalized list of federal, state and federal funding opportunities. relevant philanthropic activities for which they are eligible.
“Our AI platform enables local governments and communities to more thoughtfully pursue funding they are eligible for by allowing them to jump straight to the process of applying for ideal grants, instead of wading through tens of thousands of grants from from multiple different sources that they may or may not be eligible to obtain,” said Dhruv C. Patel, co-founder and CEO of Syncurrent. “We are grateful for USDA’s commitment to investing in innovation and our shared mission to uplift rural communities.”
Local governments and tribes simply submit the name of their unit of government, and the Syncurrent platform searches the internet, including major federal databases like Grants.gov. Given the access gaps and funding gaps for rural areas and tribal nations, Syncurrent identifies opportunities to ultimately support them.
According to the Peter G Peterson Foundationfederal grants typically represent 17 percent of a municipality’s overall budget alone. And while the American Rescue Plan Act (ARPA) provided a crucial funding mechanism for local governments to address the pandemic, ARPA regulations require local governments to return grants that remain unobligated beyond of the December 2024 year-end deadline to the U.S. Department of the Environment. Cash. As a result, communities will need to more seriously pursue additional funding sources to continue supporting their residents.
“Rural Michigan communities have repeatedly told us they struggle to know what federal funding sources are available to them and have the ability to apply for funding when they learn about it,” said Valarie Handy, USDA Acting Director of Rural Development for Michigan. “We are excited to support Syncurrent in this pilot program that will encourage rural communities to begin using artificial intelligence to seek federal and state investments.”
Syncurrent is a champion of data sovereignty, or the idea that data is subject to the laws and regulations of the country or region where it is generated. This includes the right to control and regulate the collection, storage, processing and distribution of data. This is of particular concern to tribal governments, of which there are 12 in Michigan alone, who own the right to govern their people, lands and resources such as data.
Community Pilot Initiative
Six Michigan-based pilot communities will be selected to implement the Syncurrent platform as part of this USDA-supported rural development initiative. These communities will receive immediate access to Syncurrent’s platform and implementation team so they can begin seeking grants specifically tailored to their community’s needs, as well as support from the Rural Development team from the USDA. Interested rural communities and tribal nations are encouraged to apply to participate by contacting (email protected).
By working directly with these communities, Syncurrent aims to refine and expand its AI technology to serve a broader range of underserved populations.
“Syncurrent is driven by a commitment to positively impact underserved communities, including helping them access resources, manage their data, and drive local economic growth,” said Matthew Jaquez, co-founder and COO from Syncurrent. “Working closely with these communities and governments, we intend to use their direct feedback to modify and build Syncurrent according to their needs.”
Syncurrent expects a flexible process for its pilot and aims to select its participants by December 11, 2024. Announcements on the effectiveness of the program and future partnership openings will be made at a later date, as Syncurrent strives to become a long-term, sustainable partner to underserved communities.
Syncurrent’s journey began when Patel and Jaquez collaborated on a business intelligence tool for Innovate Marquette SmartZoneA Michigan Economic Development Corporation (MEDC) focused on rural entrepreneurship. Support from Innovate Marquette SmartZone and key advisors such as CEO Joe Thiel helped Patel and Jaquez grow consulting firm HIVE, the foundation of Syncurrent.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This aid supports the improvement of infrastructure; business development; accommodation; community facilities such as schools, public safety and health care; and high-speed Internet access in rural, tribal, and high-poverty areas. For more information, visit www.rd.usda.gov.
About Syncurrent
Founded in 2022, Syncurrent is a Marquette-based AI technology startup bridging the financing access gap for tribal nations and rural communities. Through its innovative platform, Syncurrent connects these communities to personalized federal, state and philanthropic funding opportunities, making it easier for communities to pursue financial investments while leveraging their data sovereignty. Syncurrent’s location in Marquette, a rural community neighboring five tribal nations, provides an ideal setting for a startup aiming to bridge the gap between access and funding.
For more information, visit www.syncurant.com.
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