#SeedtheFuture
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#SeedtheFuture
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SBA Growth Accelerator Fund Competition was open from January 8th through February 16th to support Innovation Ecosystem Building Across the Country
Stayed turned for the announcement of winners April 2024!
Applicants were asked to align their application with one of the following GAFC Theme Areas:
National and Economic Security, including but not limited to:
- National Security and Defense
- Artificial Intelligence
- Microelectronics
- Advanced Computing and Software
- Quantum Computing
- Human-Machine Interfaces
- Other Critical and Emerging Technologies
Domestic Manufacturing and Production, including but not limited to:
- Advanced Manufacturing R&D
- Supply Chain Resiliency
- Critical and Resilient Infrastructure
- AgTech and Agricultural Innovation
- Other Supply Chain, Infrastructure, and Manufacturing Technologies
Sustainability and Biotechnology, including but not limited to:
- Energy and Sustainability
- Biotechnology
- Climate and Environment
- Public Health
- Renewable Energy Generation and Storage
- Electric Vehicles
- Blue Economy
- Other Climate, Energy, and Life Science Technologies
SBA expects to award up to $3,000,000 in cash prizes for Stage One and intends to announce winners for Stage One by April 2024.
Stage Two of the Competition offers an additional $50,000 to $150,000 in cash prizes to eligible Stage One winners to provide direct assistance to entrepreneurs, small businesses, and startups that are looking to commercialize their innovation, from R&D to the commercial market. SBA intends to announce winners for Stage Two by September 2024. A Federal agency partner may also elect to provide a Bonus Prize to one or more Stage One contestants focused on a priority area of the agency partner’s choice. Bonus Prize winners are awarded from the pool of Stage One contestants.
Information Webinars
Two information webinars will be held to support potential Stage One applicants. The webinars are free and open to the public.
- GAFC Pre-Application Webinar: Goals, rules, and how to apply
Jan. 16, 2024 at 2:00pm EST
Download the slides | View the recording
- GAFC Themes Explanation Webinar: A deep-dive into the tech themes with experts from relevant federal agencies.
Jan. 31, 2024 at 2:00pm EST
Download the slides | View the recording
Competition Details
The U.S. Small Business Administration (SBA) offers $50,000 to $200,000 in prize awards for impactful and inclusive approaches to foster a thriving, collaborative national innovation support ecosystem to advance research and development (R&D) from ideas to impact.
By fostering connections between entrepreneurs, advisors, mentors, partners, philanthropies, corporations, investors, and other shared resources, the 2024 Growth Accelerator Fund Competition (GAFC) will catalyze strategic ecosystem partnerships to build community and organizational capacity for the successful launch, growth, and scale of STEM (Science, Technology, Engineering, and Mathematics)-based entrepreneurs and startups.
Competition Goals:- Increase the pipeline and success of STEM/R&D-focused entrepreneurs and small businesses;
- Increase the success of STEM/R&D-focused entrepreneurs in accessing capital and resources to advance their businesses;
- Incentivize innovation ecosystem stakeholders to provide equitable access to resources for underserved communities and industries;
- Catalyze partnerships and relationships between stakeholder groups to strengthen the national innovation ecosystem; and
- Connect both new and established participants in the national innovation ecosystem.
Prizes awarded in Two Stages:
Stage One: $50,000 cash prizes will be awarded to organizations (Catalysts) to catalyze relationships between aligned stakeholders (Ecosystem Partners) that lead to the development of Growth Accelerator Partnerships. Catalysts work collaboratively with Ecosystem Partners to bring additional resources, deepen network connections, and develop strategies that amplify the impact and success of the Growth Accelerator Partnership and the STEM/R&D-focused entrepreneurs and small businesses they serve.
SBA welcomes Stage One submissions from a broad range of organizations with a collaborative vision to nurture a national ecosystem for equitable access to entrepreneurship.
Stage Two: $50,000 to $150,000 cash prizes awarded to Growth Accelerator Partnerships to provide assistance to entrepreneurs that transition R&D into the marketplace. The Growth Accelerator Partnership will provide startups and small businesses additional support and resources.SBA will accept Stage Two submissions from Growth Accelerator Partnerships; submissions will be prepared jointly by Stage One Catalysts and Ecosystem Partners and will present their proposal to successfully accelerate the launch, growth, and scale of diverse STEM/R&D-focused small businesses.
Resources:
- Download the full 2024 competition guidelines
- Press Release: SBA Growth Accelerator Fund Competition Opens Jan. 8 to Expand and Strengthen its National Innovation Ecosystem
- 2024 Growth Accelerator Fund Competition Pre-Application Webinar Slides
- Download FAQs
- For information on previous Growth Accelerator Fund Competitions: Accelerators | SBIR.gov
Note: The Competition is not intended to provide capital directly to companies for R&D projects.
2024 Growth Accelerator Fund Competition Pre-Application Webinar
Application
The 2024 GAFC Stage One Application Portal closed on Feb. 16.
Interested in being a reviewer?
Leverage your expertise and experience in SBIR/STTR, technology-based economic development, investing, STEM entrepreneurship, or working with accelerators or incubators by volunteering as a reviewer for Stage One of the competition. The role of a reviewer is to rate eligible applications based on a provided set of criteria, approximately a five-hour commitment over ten days.
Please email accelerators@sba.gov with any questions about the Growth Accelerator Fund Competition.
Small Business Administration © 2024
SBA’s participation in this activity is not an endorsement of the views, opinions, products or services of any other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.