Syncurrent Becomes First AI Startup to Secure Funding from United States Department of Agriculture Rural Development
This award marks a milestone in federal support for startup innovation and the underserved communities to be served under the project.
MARQUETTE, Mich., Nov. 19, 2024 - Syncurrent, a Marquette-based technological startup, today announced it is the first artificial intelligence (AI) startup to secure grant funding from the United States Department of Agriculture (USDA) Rural Development.
The funding, a $100,000 Rural Business-Cooperative Service Agreement, will empower Syncurrent’s AI-powered platform to support rural, underserved communities and tribal nations in navigating the complexities of the grant ecosystem.
While more than one trillion grant-based dollars are made available to small governments annually, many local governments and tribal nations lack the staff, resources and ability to navigate the overwhelming complexities of grant funding. To address this, Syncurrent’s AI platform transforms identifying funding, a typically labor-intensive process, into an automated process that delivers a tailored list of relevant federal, state and philanthropic funding opportunities for which they are eligible.
“Our AI platform empowers local governments and communities to more thoughtfully pursue the funding they are eligible for by allowing them to skip right to the application process for ideal grants, as opposed to navigating the tens of thousands of grants from multiple different sources they may or may not qualify to obtain,” said Dhruv C. Patel, co-founder and CEO of Syncurrent. “We are grateful for the USDA’s commitment to investing in innovation and our shared mission of lifting up rural communities.”
Local governments and tribes need only submit the name of their governmental unit, and Syncurrent’s platform searches the internet, including major federal databases like Grants.gov. With access discrepancies and funding gaps for rural areas and tribal nations, Syncurrent identifies opportunities to ultimately support them.
According to the Peter G Peterson Foundation, federal 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 weather the pandemic, ARPA regulations require local governments to return grant funding that remains unobligated beyond the December 2024 end-of-year deadline to the U.S. Department of Treasury. As a result, communities will need to more earnestly pursue additional 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 USDA Rural Development Acting State Director for Michigan Valarie Handy. “We’re excited to support Syncurrent in this pilot program that will encourage rural communities to begin using artificial intelligence in seeking out federal and state investment dollars.”
Syncurrent is a champion for 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 a particular concern for tribal governments, of which there are 12 in Michigan alone, who possess 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 Syncurrent’s platform as part of this USDA Rural Development-supported initiative. These communities will receive immediate access to Syncurrent’s platform and implementation team so that they may begin pursuing grants uniquely tailored to their community’s needs, as well as support from the USDA Rural Development team. Interested rural communities and tribal nations are invited to apply for participation by contacting pilot@syncurrent.com.
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 make a positive impact for underserved communities, specifically through helping them access resources, govern their data and drive local economic growth,” said Matthew Jaquez, co-founder and COO of Syncurrent. “By working closely with these communities and governments, we intend to use their direct feedback to modify and build Syncurrent around their needs.”
Syncurrent expects a flexible process for its pilot, and aims to select its participants by Dec. 11, 2024. Announcements about the program’s efficacy and future openings for partnership will be made at a later date, as Syncurrent works toward becoming 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 SmartZone, a Michigan Economic Development Corporation (MEDC) tech hub focused on rural entrepreneurship. Support from Innovate Marquette SmartZone and key advisors such as CEO Joe Thiel assisted Patel and Jaquez in developing the 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 assistance supports infrastructure improvements; business development; housing; 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 funding access gap for tribal nations and rural communities. Through its innovative platform, Syncurrent connects these communities with customized federal, state, and philanthropic funding opportunities, empowering communities to pursue financial investments with greater ease while harnessing their data sovereignty. Syncurrent’s location in Marquette, a rural community neighboring five tribal nations, is an ideal setting for a startup aimed at closing the gap between access and funding. For more information, visit www.syncurrent.com.
About the United States Department of Agriculture (USDA) Rural Development
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 assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. Visit the Rural Data Gateway to learn how and where these investments are impacting rural America. To subscribe to USDA Rural Development updates, visit the GovDelivery Subscriber Page.
“Our rural communities, municipal and Tribal, are the backbone of our Nation. This partnership marks a milestone for rural government technology innovation. We’re eternally grateful for USDA-RD’s foresight and support of Government Technology” - Dhruv C. Patel, Chief Executive Officer
