The U.S. Small Business Administration (SBA) has announced the winners of the 2024 Growth Accelerator Fund Competition (GAFC) Stage Two.
Forty-four accelerator partnerships will receive between $50,000 and $150,000 each to support small businesses and startups focused on science, technology, engineering, and mathematics (STEM) as well as research and development (R&D). These awards are aimed at advancing national priorities such as economic security, domestic manufacturing, sustainability, and biotechnology.
The GAFC Stage Two awards build upon Stage One’s focus on network building by enhancing the support provided to small businesses and startups. The awarded accelerator partnerships represent a wide range of public, private, nonprofit, and academic institutions from across 34 U.S. states and territories, including Washington, D.C., and Puerto Rico. These partnerships work collaboratively to drive innovation and support emerging businesses nationwide.
Impact of the Growth Accelerator Fund
Since its launch in 2014, the GAFC has become a vital source of support for innovation-focused entrepreneurship organizations and the communities they serve. Over the past decade, the SBA has awarded 566 prizes, totaling over $33 million.
2024 Growth Accelerator Fund Stage Two Winners
The 2024 GAFC Stage Two winners support national priorities across several focus areas, including National and Economic Security, Domestic Manufacturing and Production, and Sustainability and Biotechnology. Below is the full list of this year’s winners:
National and Economic Security
Alabama: The Catalyst Center for Business and Entrepreneurship
California: Starburst Accelerator
Colorado: Catalyst Accelerator
Indiana: Central Indiana Corporate Partnership
Indiana: Indiana Center for Emerging Technologies
Louisiana: Maven Scouts
Maryland: Rural Autonomous Innovation Network (RAIN) Association of University Research Parks (AURP)
Missouri: Codefi Foundation on Rural Innovation
Montana: Early Stage Montana
Nebraska: Invest Nebraska
New Mexico: NewSpace Nexus
Domestic Manufacturing and Production
Arizona: Startup Tucson
Arkansas: Endeavor NWA Entrepreneurs
District of Columbia: National Disability Institute
Florida: Florida Institute of Technology
Florida: International Business Innovation Association
Hawaii: XLR8HI
North Carolina: RIoT
North Dakota: Grand Farm Research and Education Initiative Inc.
New York: FuzeHub
New York: Southern Tier High Technology Incubator Inc.
Utah: Utah Advanced Materials Manufacturing Institute
Washington: 360 Social Impact Studios
Sustainability and Biotechnology
Alaska: Spruce Root Inc.
California: Los Angeles Cleantech Incubator
Connecticut: The Community Foundation-Mission Investments Company
Illinois: University of Illinois Research Park LLC
Maine: Central Maine Growth Council
Massachusetts: SeaAhead Inc.
Minnesota: RuralWorks Partners LLC
North Carolina: Eva Garland Consulting LLC
New York: The Hudson Valley Venture Hub at SUNY New Paltz
Oregon: Oregon Health and Science University
Pennsylvania: University City Science Center
Puerto Rico: CARBONO3 LLC
Tennessee: BioTN Foundation Inc.
Tennessee: Native American Investment and Capital Alliance
Texas: Health Wildcatters
Texas: Impact Hub Houston
Utah: Altitude Lab
Virginia: FedTech
Vermont: LaunchVT
West Virginia: U.S. Research Impact Alliance Corp.
Washington, D.C.: Women in Engineering ProActive Network
A full description of each GAFC partnership can be found in the public directory at https://bit.ly/GAFC24Directory.
This article, “SBA Awards Over $3 Million to Support STEM and R&D-Focused Small Businesses Through Growth Accelerator Fund” was first published on Small Business Trends