in ,

SBA Issues Funding Awards to 68 Business Accelerators; Maria Contreras-Sweet Comments

SBA Issues Funding Awards to 68 Business Accelerators; Maria Contreras-Sweet Comments - top government contractors - best government contracting event

mentorship, discussion, advisoryThe Small Business Administration has awarded 68 business accelerators with a $50,000 grant each as winners of SBA’s third annual Growth Accelerator Fund Competition.

SBA said Thursday that a panel of government and industry professionals chose the winning accelerators out of more than 400 grant applicants from across the U.S.

The agency facilitated the competition in partnership with the National Institutes of Health, Education Department and National Science Foundation.

“Accelerators serve entrepreneurs in a broad set of industries and sectors ““ from manufacturing and tech start-ups, to farming and biotech ““ with many focused on creating a diverse and inclusive small business community,” said SBA Administrator Maria Contreras-Sweet.

“These awards deliver on a longstanding commitment at SBA to strengthen and modernize these support systems especially in parts of the country where access to capital has been a major barrier to starting a business,” she added.

The accelerators will report job creation, fundraising, startup establishment and corporate sponsorship metrics to SBA for one year, the agency noted.

“We reported to Congress 138 winners from 2014 and 2015 ““ made up of 5,000 companies that have raised $1.5 billion and employ nearly 20,000 people,” Contreras-Sweet said.

Click here to view the SBA’s full list of the 2016 Growth Accelerator Competition Award winners.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Industry News

mm

Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

SBA Issues Funding Awards to 68 Business Accelerators; Maria Contreras-Sweet Comments - top government contractors - best government contracting event
Raytheon BBN Awarded Year 3 Option on Transcom Modeling, Simulation App Support Contract
SBA Issues Funding Awards to 68 Business Accelerators; Maria Contreras-Sweet Comments - top government contractors - best government contracting event
DoD Taps DynCorp to Support US Govt, Contractor Personnel in Egypt