SBA Announces $13 Million Growth Accelerator Fund Competition

If you’re looking to make a big impact with your entrepreneurial support organization then you should get ready to apply for the U.S. Small Business Administration’s Growth Accelerator Fund Competition! This competition is incentivizing partnerships, collaboration and driver of inclusive growth to empower underserved entrepreneurs. It’s an exciting opportunity that won’t just benefit those organizations chosen; it will help create an even more vibrant national innovation ecosystem. Bailey DeVries, Associate Administrator of Investment and Innovation shared her enthusiasm for this opportunity, “I encourage ecosystem builders and ESOs with great ideas to accelerate growth and drive for innovation to apply as soon as possible!”

The U.S. Small Business Administration’s seventh Growth Accelerator Fund Competition (GAFC)offers $13 million in prizes awarded in 2023 and 2024. The GAFC is aimed at expanding growth accelerators and creating innovative partnerships with inclusive approaches toward supporting entrepreneurs in STEM (Science Technology Engineering Math) and research and development (R&D). This is great news for entrepreneurs across the country!

Entrepreneurs interested in applying for the Growth Accelerator Competition are encouraged to join one of the informational online webinars. The online webinars will provide information on the competition and will facilitate connections between ESOs and potential partners working on similar themes across the nation. The webinar offerings are as follows:

• Feb. 6: National Security and Global Competitiveness, including but not limited to National Security and Defense; International Trade; Public Health
• Feb. 7: Domestic Manufacturing and Production, including but not limited to AgTech, Food Security, and Nutrition; Supply Chain Resiliency; Critical and Resilient Infrastructure
• Feb. 8: Climate and Renewable Energy, including but not limited to Climate and Environment, Energy, and Sustainability
• Feb. 9: Under-Represented People, Places, and Themes

Interested applicants should RSVP for a webinar here: https://bit.ly/GAFC23ThemeConvening. Stage One Catalyze submissions are being accepted now until Feb. 24. Multiplier Bonus Prizes will be available for new and rural-focused Ecosystem Partners.

Since 2014, SBA has made nearly 400 awards to Innovation Growth Accelerators in 52 states and territories, establishing a solid network of innovation support for startups and small businesses across the country. New this year, the competition places greater emphasis on fostering connections across innovation ecosystem stakeholders. Entrepreneur Support Organizations (ESOs) motivated to strengthen and increase equitable access to resources for underserved communities and industries should visit Challenge.Gov.

Competition rules, requirements, and additional information can be found at https://www.challenge.gov/?challenge=sbaaccelerators2023.

The Pre-Application Webinar can be found at https://youtu.be/0DX5gnkWRTU.

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