Growth Accelerator Fund Competition

 

Growth accelerators are organizations that help entrepreneurs start and scale their businesses. Typically run by experienced entrepreneurs, accelerators help small businesses access seed capital, mentors, counseling, overhead services and networking opportunities. These organizations help accelerate a startup company?s path towards success with targeted advice on revenue growth, job growth and sourcing outside funding. Accelerators also help foster an inclusive entrepreneurial ecosystem by stimulating entrepreneurship outside of traditional startup hubs. Through the Growth Accelerator Fund Competition (GAFC), SBA is seeking to identify the nation's most innovative and promising small business accelerators and incubators that work with high tech entrepreneurs that are potential SBIR or STTR program applicants (see more information about SBIR/STTR below). The Competition awards will infuse the accelerators and incubators with additional resource capital to help these entities provide focused assistance to high tech entrepreneurs, including support for company formation as well as awareness and education of the SBIR and STTR programs.

General information about this opportunity
Last Known Status
Active
Program Number
59.065
Federal Agency/Office
Small Business Administration
Type(s) of Assistance Offered
C - Direct Payments For Specified Use
Program Accomplishments
Not applicable.
Authorization
America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education, and Science Reauthorization Act of 2010 ("America COMPETES Reauthorization Act of 2010").
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
The Competition is open to organizations which provide networking opportunities, mentorship, space (can be physical or virtual) and sometimes equity to start-ups. Organizations must be established private entities, such as corporations (for-profit) or nonprofit organizations that are already incorporated, have been in business for at least two years, and maintain a primary place of business and operations in the United States. Entities that have an outstanding, unresolved financial obligation to, or that are currently suspended or debarred by, the Federal Government are not eligible for this Competition. Federal, state, local and tribal agencies are also not eligible for this Competition. Consult www.sba.gov/accelerators and www.sbir.gov/accelerators for further information.
Beneficiary Eligibility
For-profit and nonprofit organizations, small businesses, and the general public. Competition benefits small business accelerators and incubators that work with high tech entrepreneurs that are potential SBIR or STTR program applicants. The organizations provide networking opportunities, mentorship, space (can be physical or virtual) and sometimes equity to start-ups. Consult www.sba.gov/accelerators and www.sbir.gov/accelerators for further information.
Credentials/Documentation
An SBA Growth Accelerator Fund Application must be completed online. Additional documentation may be included at the applicants discretion. Awardees must be registered as an entity through www.SAM.gov and have an active account. Consult www.sba.gov/accelerators for further information on accessing the application.This program is excluded from coverage under OMB Circular No. A-87
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. This program is excluded from coverage under OMB Circular A-102. This program is excluded from coverage under OMB Circular A-110. An SBA Growth Accelerator Fund Application must be completed online. Consult www.sba.gov/accelerators for further information on accessing the application.
Award Procedure
Applicant is notified by an SBA official of award by letter or email. Awardees must register through www.sam.gov as an entity with an active account to receive award.
Deadlines
April 6, 2015 to June 8, 2015 Consult www.sba.gov/accelerators. for annual application open period information. Variable; Early April to early June. Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
Variable: Generally, 90 days from close of application period.
Appeals
Not applicable.
Renewals
Not applicable.
How are proposals selected?
Consult www.sba.gov/accelerators and www.sbir.gov/accelerators.
How may assistance be used?
Award funds are intended for accelerators and other entrepreneurial ecosystem models to fund operating budgets, not for direct investing in the entrepreneurs’ small businesses. For the purposes of this competition, Growth Accelerators include accelerators, incubators, co-working startup communities, shared tinker-spaces or other models to accomplish similar goals. Consult the current funding opportunities, guidelines, or program announcements for complete information (www.sba.gov/accelerators and www.sbir.gov/accelerators). Award funds must be used for the purposes outlined in the relevant guidelines or program announcement, and in accordance with the Small Business Administration’s General Terms and Conditions.
What are the requirements after being awarded this opportunity?
Reporting
Not applicable.
Auditing
Not applicable.
Records
This program is excluded from coverage under OMB Circular No. A-133.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
No required period of performance. Method of awarding/releasing assistance: multiple disbursements. Method of awarding/releasing assistance: Prizes will be disbursed in two payments via the Automated Clearing House (ACH). The first payment, equal to 80 percent of a winner's total prize amount ($40,000), will be disbursed once all initial requirements have been met (i.e. account information received, SAM registry). It is estimated the payment will be made within 90 days of SBA receiving all required information. The second payment, the remaining 20 percent ($10,000), will be disbursed after a winner submits a written Assessment to be provided by SBA. See Length and Time Phasing of Assistance.
Who do I contact about this opportunity?
Regional or Local Office
None/Not specified.
Headquarters Office
Office of Innovation and Technology
409 3rd St., SW
6th Floor
Washington, DC 20416 US
accelerators@sba.gov
Phone: 202-431-0472
Website Address
http://www.sba.gov/accelerators
Financial Information
Account Identification
73-0400-0-1-376
Obligations
(Direct Payments for Specified Use) FY 18$1,000,000.00; FY 19 est $3,000,000.00; FY 20 Estimate Not Available FY 17 est $5,000,000.00; FY 15$3,950,000.00; FY 16 est $1,000,000.00; -
Range and Average of Financial Assistance
Depending on award year, $1,00,000 to $4,400,000 cumulative awards; $50,000 for individual awards.
Regulations, Guidelines and Literature
Consult www.sba.gov/accelerators.
Examples of Funded Projects
Not applicable.

 



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