The U.S. Small Business Administration (SBA) has unveiled the 2025 Growth Accelerator Fund Competition (GAFC), offering up to $9 million in awards to support entrepreneur support organizations (ESOs) that drive innovation among startups and entrepreneurs in underserved communities. The competition, which opens January 8, 2025, will provide grants ranging from $75,000 to $150,000 to strengthen innovation ecosystems, foster collaboration, and expand access to entrepreneurship across the United States.
“The 2025 Growth Accelerator Fund Competition will build on SBA’s legacy of strengthening innovation ecosystems by deepening the incredible entrepreneur support organization partnerships we have on the ground in undercapitalized communities across the country,” said SBA Administrator Isabel Casillas Guzman. “This year’s competition will emphasize advancing America’s global leadership in critical industries and ensuring creative ideas make it to market.”
The GAFC aims to engage organizations in addressing gaps within their ecosystems, supporting initiatives that bridge research and commercialization, enhance capital access, and bolster entrepreneurial resources in emerging industries.
The competition is divided into two stages:
Stage One: Initial Awards
- Applications Open: January 8, 2025.
- Awards: $75,000 cash prizes to organizations proposing innovative solutions to ecosystem challenges.
- Themes: Applicants must align their proposals with one of two areas:
- Lab-to-Market: Focused on transforming research into commercial applications in industries such as biotechnology, domestic manufacturing, and national security.
- Capital Formation: Addressing barriers to investment access by developing funding mechanisms, enhancing financial literacy, or creating more stakeholders in the innovation ecosystem.
- Deadline: January 31, 2025.
- Winners Announced: By April 2025.
Stage Two: Scaling Innovations
- Eligibility: Open to Stage One winners.
- Awards: Additional $150,000 to scale proposed solutions.
- Winners Announced: By September 2025.
The SBA encourages a broad range of ESOs, including those serving historically undercapitalized communities, to apply. Applicants can attend a free Pre-Application Webinar on January 9, 2025, from 3-4 p.m. EST to learn more about the competition and the application process.
For additional details and application materials, visit the SBA’s website.
This article, "SBA Announces $9 Million Growth Accelerator Fund Competition to Boost Innovation Ecosystems" was first published on Small Business Trends
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