SBA Announces Growth Accelerator Competition Winners

The U.S. Small Business Administration (SBA), and its federal partners, announced the winners of its third annual Growth Accelerator Fund Competition on August 31. The 68 winners in 32 states and the District of Columbia were judged by more than 100 experts from both the public and private sector with entrepreneurial, investment, startup, economic development, capital formation and academic backgrounds. The competition consisted of two panel reviews, the first involving over 400 applications and presentations to establish a pool of 200 qualified finalists. Of those 200 finalists, a second panel evaluated presentations and pitch videos before selecting the final 68 winning organizations. Each winner will receive a cash prize of $50,000 from the fund’s $3.4 million to boost the economic impact of accelerators across the country.

The purpose of the SBA’s annual competition is to draw attention and funding to parts of the country where there are gaps in the entrepreneurial ecosystem, including those not readily supported by the private sector. The newest awardees join SBA’s 200 past winning entrepreneurial ecosystems that form the foundation of the Growth Accelerator Fund program. As part of the award, awardees will be required to submit quarterly reports for a year, and must report or provide their metrics, including jobs created, funds raised, startups launched and corporate sponsors obtained.