SBA

The U.S. Small Business Administration (SBA) is committed to ensuring equitable and customer-centric design and delivery of programs to support small businesses and innovative startups. Advancing this commitment, the SBA Office of Investment and Innovation (OII) is leading efforts to build a thriving national innovation ecosystem that promotes investments in all small business communities.

As we close November’s National Entrepreneurship Month and head into 2023, we share our appreciation and gratitude for all the work that you do as an entrepreneurship ecosystem builder, providing on-the-ground connection, advice, and support to innovators around the country and the world, and we invite you to join us at the virtual SBA Innovation Ecosystem Summit on December 6 – 7 as we look ahead to the coming year and how SBA aims to deliver on this priority.

Building on the popularity and success of prior Growth Accelerator Fund Competitions (GAFC), SBA will launch an updated competition for 2023 to enhance the support available to develop an inclusive and accessible ecosystem. The 2023 GAFC will bring together ecosystem partners to collaborate around a shared theme – working in partnership to design, develop, and deliver Growth Accelerator programs for small businesses. These partnerships will amplify the impacts and outcomes – both for the Growth Accelerator partner organizations, as well as the innovative small businesses they support. Further, the 2023 GAFC will seek to expand the innovation ecosystem by encouraging the participation of new accelerators and entrepreneur support organizations (ESO) from diverse stakeholder communities. Expanding the innovation-focused collaborative network of ESOs will promote access and break down barriers to participation for entrepreneurs across the country by meeting small businesses where they are and supporting trusted community leaders.

The 2023 GAFC is one part of a broader strategy by SBA to strengthen and support a thriving national innovation ecosystem. As part of its strategic priority, SBA is currently accepting nominations for two newly established Federal advisory committees announced by Administrator Isabella Casillas Guzman. The Investment Capital Advisory Committee (ICAC) and the Invention, Innovation, and Entrepreneurship Advisory Committee (IIEAC) will focus on providing insights and recommendations to the Administrator on ways SBA can enhance inclusiveness, equity, and accessibility in the investment and innovation ecosystems.

SBA will continue to provide resources and opportunities for ESOs to connect with the Federal innovation community through regular newsletters, convenings, and educational opportunities. We look forward to working with you in partnership to nurture an equitable and inclusive innovation ecosystem!