We love sharing successes and initiatives started by members to help promote entrepreneurship in their ecosystems. We are proud to share that three organizations run by SCN members have won the SBA's 2021 Growth Accelerator Fund and SBIR Catalyst Competitions. Overall, there were 84 winners for the Growth Accelerator Fund Competition (GAFC) and eight winners for the SBIR Catalyst competition, receiving a combined total of $5.4 million in awards. Awards were based on their proposals for innovative ideas that inclusively support entrepreneurs researching and developing STEM-related innovations.
The winners of the GAFC are accelerators and incubators who proposed targeted assistance to STEM/R&D entrepreneurs from underrepresented groups, including women, people of color, rural, and veteran entrepreneurs. The GAFC prize winners support a broad range of industries including clean energy, supply chain resilience, and infrastructure. Many accelerators and incubators also work to expand the participation of innovation-focused small businesses located in HUBZones. GAFC winners will each receive a $50,000 prize. Up to 84 prizes are anticipated for this track.
The winners of the SBIR Catalyst competition facilitated eight collaborative partnership proposals aimed at building connections across entrepreneur support organizations that foster innovation driven entrepreneurs from underserved communities. The winners are recognized connectors across programs that fund innovation clusters, hubs, and other technology-based economic development initiatives. SBIR Catalyst winners will each receive a $150,000 prize. Up to 7 prizes are anticipated for this track.
Here’s a look at member organizations that received an award.
NewBoCo
Eric Engelmann, who we've highlighted before, is a founder and previous Executive Director of NewBoCo. a non-profit whose mission is to accelerate world-changing ideas, from Iowa. The organization aims to create impactful startup businesses that grow here through its Iowa Startup Accelerator program and more; to foster world-class technical and creative talent via innovative educational programs for kids and adults; to assist thriving, innovative companies in developing new products and attracting the best talent through corporate innovation programs; and to make an outstanding social impact and make the world a better place.
“For NewBoCo and ISA Ventures, this is part of reaching and broadening access for nurses who are already on the front lines of healthcare improvising solutions to problems. We see incredible untapped potential in nurses’ ideas. In some cases we aim to help them begin or continue their entrepreneurial journeys. But in other cases we hope to test the commercialization potential and then work to spin up a business around the IP, and do so in a fair and appropriate way to the inventor. Many of these require some corporate IP and regulatory system navigation expertise, too, which adds some complexity. This grant lets us take the first steps in this exciting direction.”
First Flight Venture Center
Krista Covey, who we’ve highlighted before as a Summit Host, is now the President of First Flight Venture Center, a unique incubator for science-based startups located in the heart of Research Triangle Park (RTP) of North Carolina. Read their press release announcing the award here.
“We are grateful to again receive the GAFC Award, allowing First Flight to build upon its commitment to women entrepreneurs, and entrepreneurs in underserved and underrepresented communities. We will provide women-owned companies a diverse range of in-depth education and business mentoring through our business start-up program, Propeller, and through hosting women-centric educational panels focused on how to attract investors and overcome challenges that are unique to women entrepreneurs.”
Tampa Bay WaVE
Linda Olson is the CEO/President at Tampa Bay WaVE where we held our Winter 2017 Summit. Tampa Bay Wave is a nonprofit organization that drives opportunity & prosperity in Tampa Bay by helping entrepreneurs build, launch, and grow breakout tech businesses. Wave’s nationally-recognized Accelerator programs provide tech entrepreneurs with the resources they need to scale their startups, including access to our 200+ mentors, 200+ investors, and exclusive events with key stakeholders in the tech community.
“Our SBA grant will be used to help us provide extra support for women-led cybersecurity startups in our upcoming 2022 CyberTech|X Accelerator program. Applications open Oct 1st, deadline to apply will be Nov 30.”
We can’t wait to hear more about these member initiatives and watch them take shape! Learn more about the SBA awards and winners here.