The Small Business Administration has selected the stage one winners of its 2024 Growth Accelerator Fund Competition, which aims to build a national innovation support ecosystem that advances small business research and development.
The stage one winners will each receive a $50,000 cash prize for their approaches to fostering a collaborative innovation ecosystem in three areas: national and economic security, domestic manufacturing and production and sustainability and biotechnology, SBA said Tuesday.
“In its tenth year of driving our nation’s innovation ecosystem forward, this competition provides a unique opportunity to recognize the critical importance of those who help entrepreneurs from all backgrounds access opportunities to scale and grow,” said SBA Administration Isabel Casillas Guzman.
Since 2014, the Growth Accelerator Fund Competition has awarded over $26 million in cash prizes to 314 winners across the U.S. and U.S. territories.
The competition’s second stage will focus on advancing the commercialization of selected innovations.
The Catalyst Accelerator, in collaboration with the Air Force Research Lab Space Vehicles Directorate, is one of the stage one winners in the national and economic security area.
Under the stage one award, the Catalyst Accelerator will facilitate a Boot Camp model to build relationships among Small Business Innovation Research winners.
