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The U.S. Small Business Administration (SBA) launched the 2017 InnovateHER: Innovating for Women Business Challenge – a cross-cutting prize competition to unearth innovative products and services that help impact and empower the lives of women and families. The challenge officially kicks off in early 2017 with local competitions to be hosted by over 250 organizations registered to host local competitions including universities, accelerators, clusters, scale-up communities, SBA resource partners, and other economic development organizations. Through these local competitions, the SBA will identify up to 10 finalists who will be invited to the National InnovateHER: Innovating for Women Business Challenge to be held in mid-2017. The finalists will pitch their products and ideas to a panel of expert judges and compete for the top three awards along with $70,000 in prizes provided to SBA through a gift from the Sara Blakely Foundation. Nominations from host organizations are due May 12. 

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.

As policymakers and economic developers grow to recognize the need to create broader opportunities for prosperity to sustain future national competitiveness, four facts reveal one of the complex and compounding factors hampering productive participation from a significant segment of our population:  

On July 25, the Small Business Administration (SBA) released a framework that allows qualifying small and disadvantaged businesses to obtain developmental assistance from mentor companies (both large and small businesses) and form joint ventures with those mentors to pursue government contracts. The new small business mentor-protégé program allows mentors to provide technical/management assistance, financial assistance, trade education and/or assistance in performing prime contracts with federal agencies through joint venture arrangements for up to three years. Under the rules of the program, mentors may own up to 40 percent of the protégé. Mentors may have up to three protégés under the new program. Read the final rules…

As part of the Federal and State Technology (FAST) Partnership Program, the U.S. Small Business Administration has awarded up to $200,000 to organizations in 21 states to provide outreach and technical assistance to science and technology-driven small businesses.  With an emphasis on socially and economically disadvantaged firms, the FAST program provides funds to organizations helping businesses better prepare to compete for Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) funding.

The Small Business Administration (SBA) announced the 2016 Growth Accelerator Fund competition. In its third year, the SBA will commit up to $3.95 million for accelerators and other entrepreneurial ecosystem models to compete for monetary prizes of $50,000 each. This year, the SBA will partner with several other federal agencies – NIH, NSF, Department of Education, and USDA – to provide additional prizes to accelerators that assist entrepreneurs with submitting proposals for the Small Business Innovation (SBIR) and Small Business Technology Transfer (STTR) programs. Applications must be submitted by June 3.

In the February 3 Federal Digest, the U.S. Small Business Administration (SBA) issued proposed rules affecting Impact Small Business Investment Corporations (SBICs) and is accepting comments. In addition to codifying the existing, temporary guidelines, the proposal would add new investment certifications, change the expedited processing benefit for reduced fees and replace the branding penalty for non-compliant SBICs with the threat of imposed default.

The U.S. Small Business Administration (SBA) announced today the addition of three more cluster organizations to the portfolio of communities supported through the SBA Regional Innovation Clusters initiative, raising the total number of awardees in the program to 14.

At a White House event, the Small Business Administration (SBA) announced approximately $4 million to prizes to 80 growth accelerators in 43 states the District of Columbia and Puerto Rico through the second round of its Growth Accelerator Fund Competition. Launched in 2014, the competition makes awards of $50,000 each to help fund operating budgets for accelerators and other entrepreneurial ecosystem models in parts of the country where there are fewer conventional sources of access to capital (e.g., venture capital and angel capital investors). The SBA Office of Native American Affairs also used the competition to award an additional $400,000 to ecosystems primarily dedicated to Native American entrepreneurs and small businesses. Read the press release…