ECNETNews announces the launch of the 2025 Growth Accelerator Fund Competition (GAFC), with the U.S. Small Business Administration (SBA) set to provide up to $9 million in grants to empower entrepreneur support organizations (ESOs) driving innovation among startups in underserved communities. Opening on January 8, 2025, the competition will grant awards ranging from $75,000 to $150,000, aiming to strengthen innovation ecosystems, promote collaboration, and increase access to entrepreneurship nationwide.
According to SBA Administrator, the 2025 GAFC is designed to enhance the SBA’s commitment to fortifying innovation networks, particularly in undercapitalized areas. The focus this year will be on advancing the U.S.’s global prowess in critical industries while ensuring that innovative ideas successfully reach the market.
The GAFC seeks to mobilize organizations to address ecosystem gaps, fostering initiatives that connect research with commercialization, improve access to capital, and enhance entrepreneurial resources in emerging sectors.
The competition is structured in two stages:
Stage One: Initial Awards
- Application Period Opens: January 8, 2025.
- Awards: $75,000 grants for organizations presenting innovative solutions to ecosystem challenges.
- Themes for Proposals: Applicants must focus on one of two areas:
- Lab-to-Market: Targeting the conversion of research into commercial solutions in sectors like biotechnology, domestic manufacturing, and national security.
- Capital Formation: Tackling investment access barriers by developing funding strategies, increasing financial literacy, or involving more stakeholders in the innovation landscape.
- Application Deadline: January 31, 2025.
- Winners Announced: By April 2025.
Stage Two: Scaling Innovations
- Eligibility: Open exclusively to winners from Stage One.
- Awards: An additional $150,000 to help expand proposed solutions.
- Winners Announced: By September 2025.
ECNETNews encourages a wide range of ESOs, particularly those serving historically undercapitalized communities, to participate. A free Pre-Application Webinar will be held on January 9, 2025, from 3-4 p.m. EST, offering insights into the competition and application process.
For more information and application details, visit the official SBA website.
