SBA 2024 Growth Accelerator Fund

Are you working on an innovative idea in R&D and need capital to get to the next level?

The SBA Growth Accelerator Fund could be perfect for you.

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 facilitate strategic 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.

The competition aims to:

• 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 under-served communities and industries.
• Catalyze partnerships and relationships between stakeholder groups to strengthen the national innovation ecosystem.
• Connect both new and established participants in the national innovation ecosystem.

Prize Details

Prizes are awarded in two stages:

1. 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.
2. 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.

The fund is open to a wide range of applicants, including small businesses registered and operating in the United States.

Important Dates

1. Stage One
   Submission window: January 8, 2024 – February 16, 2024.
   Screening, Judging, and Vetting Period: February – March 2024.
   Winners Announced: April 2024.
2. Stage Two
   Submission Period: June 2024.
   Screening, Judging, and Vetting Period: July – August 2024.
   Winners Announced: September 2024.

Full details on assessment, criteria and eligibility here.