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.

General information about this opportunity
Last Known Status
Active
Program Number
59.065
Federal Agency/Office
Agency: Small Business Administration
Type(s) of Assistance Offered
Direct Payments for Specified Use; Direct Payments for Specified Use (Cooperative Agreements)
Program Accomplishments
Fiscal Year 2014: See FY 14 Performance & Accountability report at www.sba.gov/accelerators. Fiscal Year 2015: FY 2015 data not yet available. Fiscal Year 2016: FY 2016 data not yet available.
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
For-profit and nonprofit organizations and the general public.
Funds are intended for accelerators and other entrepreneurial ecosystem models to fund operating budgets. Organizations which provide networking opportunities, mentorship, space (can be physical or virtual) and sometimes equity to start-ups. All models are expected to have a prescribed timeline after which start ups "exit" or "graduate" their organization to function independently in the small business economy. Consult www.sba.gov/accelerators for further information.
Beneficiary Eligibility
For-profit and nonprofit organizations, Small Businesses and the general public.
Organizations which provide networking opportunities, mentorship, space (can be physical or virtual) and sometimes equity to start-ups. All models are expected to have a prescribed timeline after which start ups "exit" or "graduate" their organization to function independently in the small business economy. Consult www.sba.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. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedure
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 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
Apr 06, 2015 to Jun 08, 2015 Consult www.sba.gov/accelerators. for annual application open period information.
Variable; Early April to early June.
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.
How may assistance be used?
Award funds are intended for accelerators and other entrepreneurial ecosystem models to fund operating budgets. 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). 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
Quarterly Metrics to be reported for 12 months post award on Jobs created (both in the actual accelerator team and in the startups within the accelerator); Funds raised or dollars invested; Start-ups launched; Progress of startups towards graduation; New start-ups in queue; Qualitative impact on community; Outside funding raised; Corporate Partnerships obtained. No cash reports are required. No progress reports are required. No expenditure reports are required. No performance monitoring is required.
Auditing
No audits are required for this program.
Records
This program is excluded from coverage under OMB Circular No. A-133.
Other Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula.
Matching Requirements: This program has a statutory formula or matching requirements.
Awardees must demonstrate the ability to raise (or have plans to raise) a 4 to 1 match of funds awarded.
MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
No required period of performance.
Method of awarding/releasing assistance: lump sum. Method of awarding/releasing assistance: lump sum.
Who do I contact about this opportunity?
Regional or Local Office
None.
Headquarters Office
Jeremy Pelter 409 3rd Street, SW
6th Floor, Washington, DC, District of Columbia 20416 Email: Jeremy.Pelter@sba.gov Phone: 202-205-6694 Fax: 202-481-1869
Website Address
http://www.sba.gov/accelerators.
Financial Information
Account Identification
73-0400-0-1-376.
Obligations
(Direct Payments for Specified Use) FY 14 $2,500,000; FY 15 est $4,000,000; and FY 16 est $5,000,000
Range and Average of Financial Assistance
$2,500,000 to $4,000,000 cumulative.
$50,000 to $80,000 for individual awards.
Regulations, Guidelines and Literature
Consult www.sba.gov/accelerators.
Examples of Funded Projects
Fiscal Year 2014: Consult www.sba.gov/accelerators. Fiscal Year 2015: Consult www.sba.gov/accelerators. Fiscal Year 2016: Consult www.sba.gov/accelerators.

 



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