Governor Meyer and DSB Announce EDGE 2.0 Winners

EDGE Winner Group Photo: EDGE 2.0 Winners – front row (l to r) NFN Brain Connections (2), KiposTech, Jupiter Modern Market. Back Row (l to r) Prismm (2), Lectrolyst, KiposTech, Crystron (3), Director CJ Bell

Newark, Del. – It was an evening of celebration and excitement as Governor Matt Meyer, and the Delaware Division of Small Business (DSB) announced the winners of the EDGE 2.0 Grant Competition. EDGE, the Division’s flagship pitch and funding competition, stands for Encouraging Development, Growth and Expansion.

Seven awards totaling an enhanced allocation of $1.15M dollars, were presented to Delaware small businesses in a ceremony at the Audion at the University of Delaware’s STAR Campus Wednesday evening. Seventeen companies pitched their projects to an expert panel of judges in late October in two categories: Nine in Entrepreneur and eight in STEM.

The winners for the Entrepreneur category are Insight Ag Scouting (Wyoming), Juniper Modern Market (Milton) and NFN Brain Connections (Dover).

The winners in the STEM category are Crystron Technologies (Wilmington), KiposTech (Newark), Lectrolyst (Wilmington), and Prismm (Newark).

Three of the eight STEM finalists also competed for $1M dollars in federal funding, as part of a special bonus round in this year’s competition. Prismm is the recipient of that award which comes in the form of a direct investment through the Delaware Accelerator and Seed Capital Program (DASCP). DASCP is one of three programs providing funding to small businesses under the federal State Small Business Credit Initiative (SSBCI) administered by DSB.

“EDGE 2.0 winners are turning ideas into paychecks and pride across our state, hiring Delawareans, investing in equipment, and keeping opportunity close to home,” said Governor Matt Meyer. “Delaware is a state of neighbors, and we will keep clearing the path for these entrepreneurs with practical support, fast service, and accountability. From shops and farms to labs and kitchens, their success strengthens every community.”

EDGE 2.0 is an expansion of the Division’s program which launched in 2019. EDGE 2.0 still features two established tracks – Entrepreneur and STEM – applies to businesses in operation for less than 7 years and requires a 3:1 funding match and for more than 50% of the company to be located in Delaware.

But there were extensive changes designed to take the program and small businesses to the next level. They included: more funding: $1.15M total available dollars (up from $750K in prior rounds) – $400K available for Entrepreneur (60% increase) and $750K for STEM (50% increase), a new online submission process, no set number of winners, no set amount awarded to each one, eligibility expansion to businesses with 15 or fewer full-time employees, having under $700K in assets, and finalists and awardees receiving additional post-pitch in-kind services and/or award supports. These supports will include memberships to networking organizations and expedited pathways to DSB funding programs and more.

“We wanted to enhance the ability of small businesses to not just get funding, but to receive practical support and tools to help them scale in way that will provide a foundation for longevity,” said DSB Director, CJ Bell. “These companies are the best of the best applicants and I’m excited to see where they go from here.”

Including this round, EDGE has supported 127 small businesses by distributing a total of $9.1 million in grant funds since its inception. This includes 83 businesses in New Castle County, 27 in Kent County, and 17 in Sussex County.

“We are thrilled to help these businesses expand and growThese seven businesses are joining an elite group of entrepreneurs,” said Secretary of State Charuni Patibanda-Sanchez. “Small businesses enhance economic diversity in our state by helping create new industries, jobs and markets. When small businesses thrive, we all thrive.”

EDGE is conducted twice a year. Grants are awarded through an extremely competitive selection process. After thorough internal review, finalists are selected to pitch their proposals to an outside expert panel of judges, who recommend whether to fund them and at what level. In August, 179 businesses applied for funding. Of those, 136 were in the Entrepreneur category and 43 in the STEM category.

Since 2019, more than half (53%) of the 127 awardees have been either woman, minority, or veteran-owned small businesses. Another 14% have been both women and minority owned, and 16% fall into more than one additional categories previously listed.

This was the twelfth round of the program. To learn more about EDGE visit de.gov/edge!

Entrepreneur Awardees:

Insight Ag Scouting (Wyoming) – $75,000

Insight Ag Scouting is a crop and field health monitoring company that uses advanced technology such as drones, sensors, and data analytics to assess crop health, pest infestations, soil conditions, and other key factors. EDGE grant funding will be used to support their growth and expansion plans through the purchase of soil sampling and necessary transportation equipment.

 Juniper Modern Market (Milton) – $125,000

Juniper Modern Market is a community-based gourmet grab-and-go cafe, grocery and marketplace planning to open in downtown Milton, January 2025. The company will use EDGE funding to purchase commercial-grade equipment systems including coolers, ovens, grab-and-go hot equipment, a dishwasher, juicer, espresso machine, and extra ovens.

NFN Brain Connections (Dover) – $200,000

NFN Brain Connections works with individuals to restore confidence, focus, and mental balance. Many of those served come to them after experiencing a concussion, brain fog (i.e., Menopause), or early signs of memory loss. EDGE funding will be used to support its office expansion needs, including establishing a larger location in Dover, the purchase of technology infrastructure, the development of an online hub for clients and families, and website upgrades.

STEM Awardees:

Crystron Technologies (Wilmington) – $ 162,500

Crystron produces advanced battery materials and are on the edge of commercializing a breakthrough Cathode Active Material (CAM) for the Lithium-ion batteries. The company reports that its CAM eliminates 65% of current manufacturing steps, reduces energy consumption and emissions by 80%, lowers production cost by 40%, generates no waste, and consumes no water. The company will use its EDGE funding to take its prototype to market by enhancing production capacity, building a larger prototype, and expanding its testing infrastructure.

KiposTech (Newark) – $300,000

KiposTech is a Delaware-based agri-tech startup pioneering next-generation poultry biosecurity. Its flagship innovation, KiposPro, is a patent-pending “plasma bazooka” that uses ionized gas, to continuously eliminate airborne pathogens, dust, and ammonia inside barns 24/7, without filters or chemicals. EDGE funding will be used to take its machine from pilot to production – supporting manufacturing setup, on-farm validation, and safety certification.

Lectrolyst (Wilmington) – $162,500

Lectrolyst uses its innovative “electro-agriculture” technology to convert CO2 waste into valuable chemical products including acetate which then gets fed into precision fermentation for protein products. The company reports that this process enhances solar-to-food efficiency by 4x, reduces land use by 88% and reduces fertilizer use by 60% making it a sustainable alternative for producing fermented proteins, pharmaceutical ingredients, and vertical agriculture. Lectrolyst will use its EDGE grant funds for equipment, materials and testing to optimize its electrochemical stack systems for incorporation into the new containerized systems, and for designing, building and testing a new stack/assembly system.

Prismm (Newark) – $1,000,000 SSBCI/$125,000 EDGE

Prismm is a Delaware-based fintech SaaS company that has built a transaction-enabled digital vault to help banks, credit unions, and wealth managers simplify and automate the inheritance process, so assets transfer seamlessly. The company’s platform automates beneficiary mapping, pre-onboards heirs, and enables compliant transfers upon verification of death. SSBCI and EDGE funds will be used to expand its team, complete technical integration of its platforms, and also for marketing.

###
The Delaware Division of Small Business (DSB) is a service-focused state agency, within the Delaware Department of State, that is committed to helping businesses start and grow in Delaware. Our Regional Business Managers can help you navigate government processes, connect with partner organizations that offer resources to small businesses and identify opportunities to access capital. DSB also oversees the Delaware Tourism Office and Office of Supplier Diversity.

Media Contact

Andrea Wojcik

Division of Small Business

O: (302) 672-6802; C: (302) 554-0060

andrea.wojcik@delaware.gov