More than $5 million in grants to support STEM, R&D-focused small businesses
More than 30 associations in national priority areas will receive the financial injection.
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Isabella Casillas Guzmán, head of the U.S. Small Business Administration (SBA), recently announced the winners of the second stage of the SBA's 2023 Growth Accelerator Fund competition.
35 award-winning accelerator partnerships will receive $150,000 each to help promote equitable investment in innovative startups and high-growth small businesses across multiple priorities, including national security and global competitiveness, domestic manufacturing and production, as well as climate and renewable energy, and underserved communities.
Casillas Guzmán said in a press release:
Through the SBA’s 2023 Growth Accelerator Fund Competition awards, the Biden-Harris Administration is delivering on its commitment to entrepreneurship, competition, and equity.
About the Accelerator Fund
In 2023, the SBA introduced a new two-stage format for the Growth Accelerator Fund Competition.
In May, Stage One Catalyze winners received $50,000 to build capabilities and connections across the U.S. innovation ecosystem.
"This network of accelerators will help ensure high-growth small businesses and innovative startups have access to resources and networks to scale in critical technologies across America,” added Casillas Guzmán.
The SBA awarded 40 Stage One awards to organizations in 30 states and territories, including D.C. and Puerto Rico, and invited them to apply for Stage Two.
In celebration of #ConstitutionDay and #CitizenshipDay, I was honored to participate in an @USCIS naturalization ceremony for nearly 100 new Americans with @USCCFoundation Senior Vice President Michael Carney and entrepreneur Hakki Akdeniz. pic.twitter.com/a3ABeyXsnv— Isabel Guzman (@SBAIsabel) September 19, 2023
During Stage Two, the SBA will provide $150,000 to ecosystem partnerships led by Stage One winners to promote equitable access to resources and accelerate support for high-growth small businesses focused on STEM and R&D.
"These new Growth Accelerator partnerships will strengthen collaboration among local and national entrepreneurial organizations committed to enhancing the chance of success for science and technology driven companies to turn their innovations into impact,” said Bailey DeVries, SBA associate administrator for Investment and Innovation.
Click here to meet the winners of the second stage of the growth accelerator fund competition.
Learn more about each Growth Accelerator Fund Competition partnership in the public directory.