The U.S. Small Business Administration announced 60 winners of SBA’s Growth Accelerator Fund Competition. The recipients, including UCI Beall Applied Innovation in Irvine, represent accelerators and incubators across 39 states and territories focused on a broad set of industries and sectors and will receive a total of $3 million in awards to support startups and entrepreneurs researching and developing STEM-related innovations.
The Growth Accelerator Fund Competition will infuse the accelerators and incubators with additional operating capital to provide focused assistance to entrepreneurs. This assistance includes support for company formation as well as awareness and education on the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Notably, the prizes are not for direct investing in the entrepreneurs’ small businesses. UCI Beall Applied Innovation will use the award to educate and mentor women entrepreneurs as they compete for SBIR/STTR funds for innovative opportunities across federal agencies.