Eligibility is subject to the following requirements:

• Any small or medium sized for-profit, entrepreneurial business of 500 employees or fewer
• Located in the State of Illinois
• Currently is or will be engaged in creating new services or products with high-growth potential
• Has had a growth rate or is projected to have a growth rate of at least 10% in employment and revenue annually over a three-year period.

Eligible Project Costs
Eligible project costs include the provision or acquisition of professional services for comprehensive business planning assistance or the successful achievement of a significant business milestone. Broad categories of services may include those related to:

• Overall business strategy
• Marketing strategies and plans
• Legal or accounting services
• Technology or product audits
• Financial modeling
• Funding strategies
• Management operations and budgeting
• Other specialized or accelerated services that are deemed critical to the successful achievement of a significant business milestone for client firms.

Ineligible Project Costs
The IEC recognizes that many types of professional businesses services are available and beneficial to entrepreneurs and small businesses. However, given limited funding availability, the award program will be restricted to business planning activities. The IEC's local managing board will have discretion to determine special funding circumstances, in consultation with DCEO. Generally, the following project costs will not be eligible for award funding:

• Legal costs associated with establishing or incorporating your business
• Architectural, engineering and design costs
• Rental or purchase of land or buildings or any improvements or furnishings to land or buildings
• Software or office equipment
• Business valuation or appraisal fees
• Loan application/origination fees
• Fees for lobbying elected assemblies or for entertainment

Funding Availability/Match Requirement
The maximum funding available per individual award is up to $5,000 of eligible project costs. Applicants will be required to provide a cash match of 100 percent of the award amount.