The opening day of the filing window is a critical milestone in the funding cycle, often providing early insights into applicant demand and funding needs. This analysis reviews the first day data for Funding Years 2022 through 2025, focusing on the total number of requests and the total requested dollar amounts.
Yearly Overview
Trend Analysis
Volume of Requests
The number of requests submitted on the first day has shown an overall upward trajectory over the four-year period. In 2022, there were 459 requests, which increased to 596 in 2023. Although 2024 saw a slight decrease to 581, the volume rebounded in 2025 to 635 requests, the highest in this sample. This suggests growing awareness, as well as possibly improved outreach.
Total Requested Amounts
The total requested funding amount does not follow the same pattern as the number of requests. The amount rose significantly from $12.8 million in 2022 to $16.7 million in 2023, then decreased to $14.4 million in 2024 and further to $13.35 million in 2025. Despite the increased number of requests in 2025, the total requested amount was lower than in previous years, indicating that the average request size may have decreased.
Average Request Size
Calculating the average requested amount per funding year provides additional insight:
From 2022 to 2023, the average request size stayed relatively flat. However, there is a noticeable decline in average request size in 2024 and 2025.
Conclusion
The first day of the filing window continues to be a strong indicator of applicant demand and funding trends.
