The Small Business Administration has selected 35 recipients of the Growth Accelerator Fund awards to support innovative startups and small businesses focused on national security and global competitiveness, domestic manufacturing and production, climate and renewable energy and underserved communities and other national priorities.
Commenting on the award, SBA Administrator Isabella Casillas Guzman said Wednesday, “This network of accelerators will help ensure high-growth small businesses and innovative startups have access to resources and networks to scale in critical technologies across America.”
The agency has allocated more than $5 million in investment for the Stage Two winners of the 2023 Growth Accelerator Fund Competition, a two-pronged initiative aimed at further building the U.S. innovation ecosystem in terms of capacity and connections.
Bailey DeVries, associate administrator for investment and innovation at SBA, also remarked on the recent win.
“These new Growth Accelerator partnerships will strengthen collaboration among local and national entrepreneurial organizations committed to enhancing the chance of success for science and technology driven companies to turn their innovations into impact,” said DeVries.
Each winner will be provided $150,000 as part of the initiative. See the list of awardees here.