In January 2011, President Obama announced the launch of the Start-Up America Initiative, a series of efforts across the federal government designed to celebrate, inspire and accelerate high-growth entrepreneurship throughout the United States. Shortly thereafter, the Small Business Administration announced a key contribution to the Start-Up America Initiative with the creation of the Impact Investment SBIC Initiative.
The Impact Investment Initiative commits SBA to make $1 billion available, over five years, to investment funds licensed as Impact SBICs. The fund managers responsible for leading these funds are subject to the same evaluation process and high standards as other applicants to the SBIC Program. However, their investment strategies incorporate a commitment to invest at least half of their capital into impact investments.
Visit the other pages in this section to learn more about the application process to become an Impact SBIC and the criteria used to define an “Impact Investment.” The policy letter describing the details of the Initiative is also available for download.