State hosts growth accelerator fund competition

The U.S. Small Business Administration Office of Innovation and Technology has announced the fifth round of the Growth Accelerator Fund Competition. This competition will recognize the nation’s most innovative accelerators (as well as incubators, co-working startup communities, or other similar models) and award these organizations cash prizes. In 2019, SBA will award up to 60 prizes of $50,000 each for a total of $3 million in prizes under this announcement, according to a press release from the SBA.

Competition rules, requirements, and additional information can be found at www.sbir.gov/accelerators. Applications can be submitted starting June 10, 2019 and no later than June 20, 2019.

This year’s competition is geared towards growth accelerators that provide assistance to technology-focused entrepreneurs. This will help to build the pipeline for new SBIR and STTR applicants. The prizes can fund operations costs associated with traditional accelerator activities.

In addition, applicants must have been in operation for at least two years and must target at least 60 percent of the effort under this funding opportunity to entrepreneurs in one of the following groups:

  1. Women.
  2. Socially and economically disadvantaged individuals.
  3. Businesses that are located in and operate out of states or territories that are underrepresented by SBIR/STTR awardees.
  4. Businesses that are located in and operate out of opportunity zones.

Prize competition applications consist of a brief 12-slide presentation and an optional two-minute video.

Contact the SBA Utah District Office at 818-524-3209 for more information.