The U.S. Small Business Administration (SBA) has announced the results of the 2024 Growth Accelerator Fund Competition (GAFC) Stage Two, designating 44 accelerator partnerships as winners.
Each winner will receive funding ranging from $50,000 to $150,000 aimed at bolstering small businesses and startups dedicated to advancements in science, technology, engineering, and mathematics (STEM), as well as research and development (R&D). This essential funding supports national objectives, including economic security, domestic manufacturing, sustainability, and biotechnology.
Building on the network-building efforts of Stage One, the GAFC Stage Two awards enhance support for small businesses and startups. The awarded partnerships span a diverse range of public, private, nonprofit, and academic entities across 34 U.S. states and territories, encompassing Washington, D.C., and Puerto Rico. These collaborations are pivotal in fostering innovation and nurturing emerging enterprises nationwide.
Significance of the Growth Accelerator Fund
Since its inception in 2014, the GAFC has established itself as a critical resource for organizations focused on innovation-driven entrepreneurship and the communities they serve. Over the past decade, the SBA has awarded a total of 566 prizes, amounting to over $33 million.
2024 Growth Accelerator Fund Stage Two Winners
The winners of the 2024 GAFC Stage Two reflect national priorities in various sectors, including National and Economic Security, Domestic Manufacturing and Production, and Sustainability and Biotechnology. Below is the comprehensive list of this year’s recipients:
National and Economic Security
- Alabama: The Catalyst Center for Business and Entrepreneurship
- California: Starburst Accelerator
- Colorado: Catalyst Accelerator
- Indiana: Central Indiana Corporate Partnership
- Indiana: Indiana Center for Emerging Technologies
- Louisiana: Maven Scouts
- Maryland: Rural Autonomous Innovation Network (RAIN) Association of University Research Parks (AURP)
- Missouri: Codefi Foundation on Rural Innovation
- Montana: Early Stage Montana
- Nebraska: Invest Nebraska
- New Mexico: NewSpace Nexus
Domestic Manufacturing and Production
- Arizona: Startup Tucson
- Arkansas: Endeavor NWA Entrepreneurs
- District of Columbia: National Disability Institute
- Florida: Florida Institute of Technology
- Florida: International Business Innovation Association
- Hawaii: XLR8HI
- North Carolina: RIoT
- North Dakota: Grand Farm Research and Education Initiative Inc.
- New York: FuzeHub
- New York: Southern Tier High Technology Incubator Inc.
- Utah: Utah Advanced Materials Manufacturing Institute
- Washington: 360 Social Impact Studios
Sustainability and Biotechnology
- Alaska: Spruce Root Inc.
- California: Los Angeles Cleantech Incubator
- Connecticut: The Community Foundation-Mission Investments Company
- Illinois: University of Illinois Research Park LLC
- Maine: Central Maine Growth Council
- Massachusetts: SeaAhead Inc.
- Minnesota: RuralWorks Partners LLC
- North Carolina: Eva Garland Consulting LLC
- New York: The Hudson Valley Venture Hub at SUNY New Paltz
- Oregon: Oregon Health and Science University
- Pennsylvania: University City Science Center
- Puerto Rico: CARBONO3 LLC
- Tennessee: BioTN Foundation Inc.
- Tennessee: Native American Investment and Capital Alliance
- Texas: Health Wildcatters
- Texas: Impact Hub Houston
- Utah: Altitude Lab
- Virginia: FedTech
- Vermont: LaunchVT
- West Virginia: U.S. Research Impact Alliance Corp.
- Washington, D.C.: Women in Engineering ProActive Network
A detailed description of each GAFC partnership is available in the public directory.
