Jump to Main Content
USA flagAn Official Website of the United States Government
SBA News and Views

Blogs.SBA News and Views

Register

SBA Launches Growth Accelerator Fund

Comment Count:
12

Comments welcome on this page. See Rules of Conduct.

SBA Launches Growth Accelerator Fund

By Kimberly Peyser
Published: May 12, 2014 Updated: May 12, 2014

The U.S. Small Business Administration is launching a $2.5 million competition for accelerators and other entrepreneurial ecosystem models to compete for monetary prizes of $50,000 each to fund operating budgets. To award the prizes, applicants will be judged by an expert panel that will consider each applicant's stated mission, founding team members and business goals among other core components. The application deadline is August 2, 2014.

The panel will give particular attention to, and the SBA encourages, applicants that fill geographic gaps in the accelerator and entrepreneurial ecosystem space. It is well known that the most successful accelerators to date were founded on the coasts. Through this competition, we are looking to support the development of accelerators and thus startups in parts of the country where there are fewer conventional sources of access to capital (e.g., venture capital and other investors).

In addition to accelerators which fill the gaps described above, we are also seeking out accelerators which are run by and support women or other underrepresented groups. Lastly, special consideration will be given to any accelerator models which support manufacturing.

This contest was designed to provide winners with supplemental and critical capital to the operating budgets of entrepreneurial ecosystems across the United States. With access to capital via this highly competitive process, applicants will have greater opportunity to scale up (if already existing) or to launch something completely new. The basic tenet is simple: the startup world and a portfolio's survival is driven by a game of numbers. More quality startups supported by more well-funded entrepreneurial ecosystems leads to successful startups growing into competitive, exciting and high-value job creators.

Over the coming months, SBA will be working with a number of partners such as the Global Accelerator Network (GAN) and others to host a number of Demo Days across the country. Demo Days provide opportunities for networking and the sharing of best practices among accelerators and other entrepreneurial ecosystem models. The first Demo Day of 2014 was held in Austin, TX at the Capital Factory and concurrent with the South by Southwest (SXSW) Festival. 13 accelerators across multiple industries and geographies gave 5 minute pitches to a room full of their peers. SBA is working to develop more of these events to happen in different cities around the country in 2014. Finalists in the competition will also be participating in a Demo Day remotely, thus there is no requirement for applicants to participate in the in-person events.

Here is the link to the application: https://gaf2014.wufoo.com/forms/sba-growth-accelerator-fund-application/

If you have questions, please contact accelerators@sba.gov.

About the Author:

Kimberly Peyser
Kim Peyser is a Special Advisor to the Associate Administrator of the Office of Investment and Innovation

Comments:

Truly interesting article.
i like it: Finalists in the competition will also be participating in a Demo Day remotely, thus there is no requirement for applicants to participate in the in-person events.
a $2.5 million competition for accelerators and other entrepreneurial ecosystem models to compete for monetary prizes of $50,000 each to fund operating budgets. ?
Thank for your Article
In addition to accelerators which fill the gaps described ...[This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.]
Great Post. Thank you for your posting.. [This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.]
"Hi, Thanks for sharing the above details. [This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.]
Really interesting ways to motivate small entrepreneurs to win the contest & do better for their business. Hats off to SBA's initiative.
"Hi, Thanks for sharing the above details. Interested in latest world news...Read the best weekly indian newspaper in toronto [This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.]
tks your post !

Pages

Leave a Comment

You must be logged in to leave comments. If you already have an SBA.gov account, Log In to leave your comment.

New users, Register for a new account and join the conversation today!