US: 2023 Growth Accelerator Fund Competition

Deadline: 10-Feb-23

The U.S. Small Business Administration (SBA) is offering $50,000 to $200,000 in prize awards for impactful and inclusive approaches to foster a thriving, collaborative national innovation support ecosystem to advance research and development (R&D) from ideas to impact.

By fostering connections between entrepreneurs, advisors, mentors, partners, philanthropies, corporations, investors, and other shared resources, the 2023 Growth Accelerator Fund Competition (GAFC) will catalyze strategic ecosystem partnerships to build community and organizational capacity for the successful launch, growth, and scale of STEM (Science, Technology, Engineering, and Mathematics)-based entrepreneurs and startups.

Competition Goals

• Increase the pipeline and success of STEM/R&D-focused entrepreneurs and small businesses;
• Increase the success of STEM/R&D-focused entrepreneurs in accessing capital and resources to advance their businesses;
• Incentivize innovation ecosystem stakeholders to provide equitable access to resources for underserved communities and industries;
• Catalyze partnerships and relationships between stakeholder groups to strengthen the national innovation ecosystem; and
• Connect both new and established participants in the national innovation ecosystem.

Theme Areas

• Theme Areas provide Catalysts and Ecosystem Partners with an opportunity to focus and coordinate their Growth Accelerator Partnership. Theme Areas establish priorities to advance collective impact and amplify outcomes. Theme Areas for this year’s prize competition are:
  • Underserved Communities, including but not limited to:
    • Underserved Geography (e.g. rural, specific region)
    • Specific Historically Underserved Community (e.g. community based on gender, race, individuals with disabilities, sexual orientation, veteran status)
  • National Security and Global Competitiveness, including but not limited to:
    • National Security and Defense
    • International Trade
    • Public Health
    • Other critical and emerging technologies, such as those indicated by the White House Office of Science and Technology Policy
  • Domestic Manufacturing and Production, including but not limited to:
    • AgTech, Food Security, and Nutrition
    • Supply Chain Resiliency
    • Critical and Resilient Infrastructure
  • Climate and Renewable Energy, including but not limited to:
    • Climate and Environment
    • Energy and Sustainability
  • Other (to be specified by Contestant).

Stages & Prizes

• The Competition will award $3,000,000 in total cash prizes provided through SBA’s FY2022 appropriations.
  • Stage One: $50,000 prizes. SBA expects to award up to $1,000,000 in cash prizes for Stage One. SBA intends to announce winners for Stage One by April 2023.
  • Stage Two: $50,000 – $150,000 prizes. Stage One winners are eligible to submit a Stage Two submission on behalf of the Growth Accelerator Partnership. For winning submissions, the Growth Accelerator Partnership will receive a cash prize. SBA intends to announce winners for Stage Two by September 2023.

Eligibility Criteria

• This Competition is open only to:
  • Citizens or permanent residents of the United States who are at least eighteen (18) years of age at the time of their submission of an entry (or teams of such individuals);
  • Private entities, such as corporations or other organizations, both for profit and nonprofit, that are incorporated or organized in and maintain a primary place of business in the United States, and that are not owned or controlled by a foreign government or foreign government sponsored entity. Individuals submitting on behalf of corporations, nonprofits, or other organizations or groups of individuals (such as an academic class or other team) must meet the eligibility requirements for individual Contestants.
  • SBA employees and contractors are not eligible, nor are Federal entities or Federal employees acting within the scope of their employment. Individuals or organizations that are currently suspended or debarred by the federal government are not eligible for this Competition.

Judging

• Ultimately, a Judging Panel will rate the submissions based on the criteria and requirements specified in these Competition Rules. The decision of the Judges will be announced on the Competition website.
• The members of the Judging Panel will be selected by SBA, at its sole discretion, and will be comprised of SBA personnel, and potentially include other federal agency representatives, and  private sector experts. Each judge will serve on a volunteer basis. Each judge will be screened by SBA to ensure he/she does not:
  • Have personal or financial interest in, or serve as an employee, officer, director, or agent of, any Contestant; or
  • Have a familial relationship with a Contestant.

For more information, visit SBA.