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SBA Announces Available Funding to Support Regional Clusters

July 10, 2014

The Small Business Administration (SBA) announced it is accepting applications for the SBA Clusters Program. Through the SBA Clusters program, the SBA’s goal is to increase opportunities for small businesses to participate in and promote innovation within a regional innovation cluster and enhance regional economic growth in regions across the country. Up to four contracts may be made to lead organizations of innovation cluster initiatives from across the country.

To be eligible for funding, the lead organization must provide the small businesses in the cluster with matchmaking opportunities, business training, counseling, and mentoring. The awardee is encouraged to partner with other regional entities to provide those resources. The awardee also will serve as the cluster’s primary organizing entity that brings industry, nonprofit organizations, and institutions of higher education together to identify research and new market opportunities that create jobs, attract capital, and have long-term, positive economic impact on the region. Visit the program’s website…

Each contract will be for a base year with four additional option years. Each awardee will receive an initial award of up to $600,000 to support activities during the base year. These clusters may span a variety of industries that include, but are not limited to: energy, manufacturing, agriculture, and advanced defense technologies. Applications are due July 31. Read the announcement…

sba, clusters