SBA Announces Over $3 Million in Awards to Advance Local Entrepreneurial Ecosystems for STEM, R&D-Focused Small Businesses and Startups

WASHINGTON - Today,Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden's Cabinet for America's more than 34 million small businesses, announced the 2024 Growth Accelerator Fund Competition (GAFC) Stage Two winners. Forty-four accelerator partnerships received between $50,000 and $150,000 each to advance their work supporting small businesses and startups in STEM and research and development (R&D) across priority areas like national and economic security, domestic manufacturing and production, and sustainability and biotechnology.

"Innovation happens everywhere and the Biden-Harris Administration is continuing to build on its commitment to promote sustainable and inclusive entrepreneurial ecosystems that advance research and development and commercialization in communities across the nation," said Administrator Guzman. "The 2024 GAFC Stage Two award winners will drive forward the Investing in America agenda and strengthen America's global competitiveness by continuing to support the expanding and increasingly diverse entrepreneurs across the nation and provide them with the opportunities that lower barriers for market and capital access."

GAFC Stage One prizes emphasized ecosystem network building, while Stage Two efforts focus on the enhanced support that can be provided to small businesses and startups through these Growth Accelerator Partnerships. These partnerships span public, private, nonprofit, and academic institutions, fostering collaboration across industries and geographies, with lead awardees headquartered in 34 U.S. states and territories, including Washington, D.C., and Puerto Rico, and assisting innovators nationally.

"Since its launch in 2014, the SBA's Growth Accelerator Fund Competition (GAFC) has made a positive difference to local and national innovation-focused entrepreneurship organizations and the communities they support. The competition has grown to be a core component and vital source of support to our nation's innovation ecosystem. Over the last decade, SBA has awarded 566 prizes totaling over $33 million to winners across the U.S. and U.S. territories. We are delighted to announce 31 of this year's Stage Two winners are new to the program, and we are inspired to witness communities of ecosystem developers coming together to build new relationships and networks with GAFC funding," saidBailey G. DeVries, Associate Administrator for SBA's Office of Investment and Innovation.

Growth Accelerator Fund Competition Stage Two Winners

Learn more about each GAFC partnership in the public directory located at https://bit.ly/GAFC24Directory.

National and Economic Security

• Ala., The Catalyst Center for Business and Entrepreneurship
• Calif., Starburst Accelerator
• Colo., Catalyst Accelerator
• Ind., Central Indiana Corporate Partnership
• Ind., Indiana Center for Emerging Technologies
• La., Maven Scouts
• Md., Rural Autonomous Innovation Network (RAIN) Association of University Research Parks (AURP)
• Mo., Codefi Foundation on Rural Innovation
• Mont., Early Stage Montana
• Neb., Invest Nebraska
• N.M., NewSpace Nexus

Domestic Manufacturing and Production

• Ariz., Startup Tucson
• Ark., Endeavor NWA Entrepreneurs
• District of Columbia, National Disability Institute
• Fla., Florida Institute of Technology
• Fla., International Business Innovation Association
• Hawaii, XLR8HI
• N.C., RIoT
• N.D., Grand Farm Research and Education Initiative Inc.
• N.Y., FuzeHub
• N.Y., Southern Tier High Technology Incubator Inc.
• Utah, Utah Advanced Materials Manufacturing Institute
• Wash., 360 Social Impact Studios

Sustainability and Biotechnology

• Alaska, Spruce Root Inc.
• Calif., Los Angeles Cleantech Incubator
• Conn., The Community Foundation-Mission Investments Company
• Ill., University of Illinois Research Park LLC
• Maine, Central Maine Growth Council
• Mass., SeaAhead Inc.
• Minn., RuralWorks Partners LLC
• N.C., Eva Garland Consulting LLC
• N.Y., The Hudson Valley Venture Hub at SUNY New Paltz
• Ore., Oregon Health and Science University
• Pa., University City Science Center
• Puerto Rico, CARBONO3 LLC
• Tenn., BioTN Foundation Inc.
• Tenn., Native American Investment and Capital Alliance
• Texas, Health Wildcatters
• Texas, Impact Hub Houston
• Utah, Altitude Lab
• Va., FedTech
• Vt., LaunchVT
• W.Va., U.S. Research Impact Alliance Corp.
• Washington, D.C., Women in Engineering ProActive Network

"Supported by SBA's Investment and Innovation Ecosystem Development (IIED) Division, the Growth Accelerator Fund Competition awards boost strategic partnerships that create a national network so entrepreneurs can tap into significant capital and resources. Our work emphasizes the value of strategic connections and relationships across a wide variety of entrepreneur support organizations and accentuates how the work they are doing can successfully impact the growth and advancement of our federal innovation ecosystem," saidBrittany Sickler, Director of Ecosystem Development, for SBA's Office of Investment and Innovation. "We are changing the trajectory for underserved communities and founders so that more startups and small businesses can scale and grow. "

For more information about the Growth Accelerator Fund Competition, please visit SBA's Growth Accelerator Fund Competition (americasseedfund.us).

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About SBA Office of Investment and Innovation

The U.S. Small Business Administration (SBA) Office of Investment and Innovation (OII) leads programs that provide the growth-oriented small business and startup community with access to financial capital, networks, assistance, and R&D funds to develop commercially viable innovations. Our work is underpinned by public-private partnerships that help small businesses on their trajectory from idea to IPO.

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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