SBA Announces 20 Growth Accelerator Fund Competition Recipients

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Oct 30, 2017, 13:04 ET

WASHINGTON, Oct. 30, 2017 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announces today 20 winners of the fourth Growth Accelerator Fund competition. The accelerators represent a broad set of industries and sectors from manufacturing to tech start-ups to farming with a diversified range of demographic groups.

Each organization will receive from the SBA a cash prize of $50,000. In accepting these funds, the accelerators will be committing to bi-annual reporting for one year and will be required to report metrics on jobs created, funds raised, startups launched and corporate sponsors obtained among other pieces of information. These metrics will allow the SBA to maintain a useful dataset of accelerators and their impact, and to develop long-term relationships with the startups and constituents in these innovative and entrepreneurial communities.

Winners were selected through a two tier review panel process with experts in entrepreneurship, investing and business plans both inside and out of the federal government. The finalist expert judges reviewed the applications and pitch videos submitted by the finalists.

The purpose of the competition is to draw attention and funding to parts of the country where there are gaps in the entrepreneurial ecosystem. There are entrepreneurial activities taking place in all 50 states, but some are better supported by private sector ecosystems than others.

The 20 winners are:

EparaTodos: Negocios Exitosos- Lowell, Mass.
Maine Center for Entrepreneurial Development- Portland, Maine
MergeLane- Boulder, Colo.
Hera Labs- San Diego, Calif.
KiiLN- Manhattan, N.Y.
Local Works- Charleston, S.C.
WiSTEM/1871- Chicago, Ill.
The JunipHER Project- Williamsburg, Va.
Bioscience & Technology Business Center- Lawrence, Kan.
MORTAR- Cincinnati, Ohio
WIN Life Sciences Start Up Accelerator Program- Seattle, Wash.
FirstWaVE Accelerator- Tampa, Fla.
XLR8UH- Honolulu, Hawaii
First Flight Venture Center- Research Triangle Park, N.C.
I-Corps Puerto Rico Accelerator- San Juan, Puerto Rico
Native Entrepreneur In Residence- Albuquerque, N.M.
Fannin Innovation Studio- Houston, Texas
Circular Board- Houston, Texas
Peninsula Technology Incubator- Hampton, Va.
Veterans Future Lab- Brooklyn, N.Y.

For more information about accelerators, the Growth Accelerator Fund Competition and a full list of award winners past and present, visit: www.sba.gov/accelerators.

ABOUT THE U.S. SMALL BUSINESS ADMINISTRATION (SBA)

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov

Contacts: Tiffani S. Clements (202) 401-0035
Internet Address: www.sba.gov/news
Release Number: 17-68

SOURCE U.S. Small Business Administration