Growth Accelerator Fund Grants $150,000 to 35 Collaborative Partnerships Across National Priority Areas
WASHINGTON – Administrator Isabella Casillas Guzman, who heads the U.S. Small Business Administration (SBA) and serves as the voice for America’s 33 million small businesses in President Biden’s Cabinet, has revealed the winners of the SBA’s 2023 Growth Accelerator Fund Competition Stage Two. Thirty-five exceptional accelerator partnerships have been selected to receive $150,000 each to promote equitable investment in pioneering startups and high-growth small businesses, focusing on key areas including National Security & Global Competitiveness, Domestic Manufacturing and Production, Climate and Renewable Energy, and Underserved Communities.
“Through the SBA’s 2023 Growth Accelerator Fund Competition awards, the Biden-Harris Administration is delivering on its commitment to entrepreneurship, competition, and equity,” stated Administrator Guzman. “This network of accelerators will help ensure that high-growth small businesses and innovative startups have the necessary resources and networks to scale in crucial technology sectors across America.”
In 2023, the SBA introduced a new two-stage format for the Growth Accelerator Fund Competition. In the initial stage, known as ‘Catalyze,’ winners were awarded $50,000 to bolster their capabilities and foster connections within the U.S. innovation ecosystem, focusing on themes like National Security & Global Competitiveness, Domestic Manufacturing and Production, Climate and Renewable Energy, and Underserved Communities.
The SBA granted 40 Stage One prizes to organizations across 30 states and territories, including D.C. and Puerto Rico, inviting them to apply for Stage Two of the Growth Accelerator Fund Competition. During this second stage, the SBA will provide $150,000 to ecosystem partnerships led by Stage One winners to ensure equitable access to resources and expedite support to high-growth STEM and R&D-focused small businesses.
“These new Growth Accelerator partnerships will enhance collaboration among local and national entrepreneurial organizations committed to improving the chances of success for science and technology-driven companies, enabling them to turn their innovations into impactful solutions,” said SBA Associate Administrator for Investment and Innovation, Bailey DeVries. “We’re excited to welcome new partners who have not previously been involved in the innovation ecosystem.”
Growth Accelerator Fund Competition Stage Two Winners:
To learn more about each Growth Accelerator Fund Competition partnership, please visit the public directory: Link to Directory
National Security & Global Competitiveness
- DE: Delaware Technology Park
- KY: XLerateHealth (dba XLerator Network)
- MS: Mississippi State University
- NH: Hannah Grimes Center
- NM: University of New Mexico (dba New Mexico Bioscience Authority)
- ND: University of North Dakota UND Center for Innovation Foundation
- TX: BioMedSA
- VA: Virginia Small Business Development Center at George Mason University
- WA: Greater Seattle Partners
Domestic Manufacturing and Production
- CA: AgTech Innovation Alliance (AgStart)
- SD: South Dakota Biotechnology Council (dba BioRise)
- WI: StartingBlock Madison, Inc
Climate and Renewable Energy
- CA: The Orange County Center for Innovation & Social Enterprise SPC (dba RevHubOC)
- FL: Seaworthy Foundation, Inc. (dba Seaworthy Collective)
- VA: Hanover County Clean Technology Innovation Center (dba Dominion Energy Innovation Center)
Underserved Communities
- AR: University of Arkansas, Fayetteville
- FL: The University of Central Florida Board of Trustees (dba Florida High Tech Corridor)
- GA: Black Innovation Alliance (BIA)
- ID: Actuate Boise, Inc. (dba Trailhead)
- IA: The New Bohemian Innovation Collaborative, Inc (dba New Boco)
- ME: Central Maine Growth Council Dirigo Labs Business Accelerator
- MD: UpSurge Baltimore Community Inc
- MA: NATIONAL COLLEGIATE INVENTORS & INNOVATORS ALLIANCE, INC. (dba VentureWell)
- MI: BBC Entrepreneurial Training & Consulting LLC
- NC: NC Hispanic American Chamber of Commerce
- PR: Puerto Rico Science, Technology and Research Trust
- TN: Founders Forge
- TX: VILCAP Inc (dba Village Capital)
2023 Competition Goals:
- Increase the pipeline and success of STEM/R&D-focused entrepreneurs and small businesses.
- Enhance the success of STEM/R&D-focused entrepreneurs in accessing capital and resources to advance their businesses.
- Encourage innovation ecosystem stakeholders to provide equitable access to resources for underserved communities and industries.
- Foster partnerships and relationships between stakeholder groups to strengthen the national innovation ecosystem.
- Connect both new and established participants in the national innovation ecosystem.
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