[Federal Register Volume 79, Number 91 (Monday, May 12, 2014)]
[Notices]
[Pages 27028-27029]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-10558]


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SMALL BUSINESS ADMINISTRATION


Announcement of Growth Accelerator Fund Competition

AGENCY: U.S. Small Business Administration (SBA).

ACTION: Notice.

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SUMMARY: The U.S. Small Business Administration (SBA) announces a 
Growth Accelerator Fund Competition to accelerators and similar 
organizations to fund their operations costs and allow them to scale up 
or bring new ideas to life.

DATES: The submission period for entries begins 12:00 p.m. e.d.t., May 
12, 2014 and ends August 2, 2014 @ 11:59 p.m. e.d.t. Winners will be 
announced no later than September 12, 2014.

[[Page 27029]]


FOR FURTHER INFORMATION CONTACT: Kim Peyser, Special Advisor to the 
Associate Administrator, Office of Investment and Innovation, U.S. 
Small Business Administration, 409 Third Street SW., 6th Floor, 
Washington, DC 20416, (202) 205-6981, [email protected].

SUPPLEMENTARY INFORMATION:

Competition Details

    1. Subject of Challenge Competition: For the purposes of this 
competition, Growth Accelerators include accelerators, incubators, co-
working startup communities, shared tinker-spaces or other models to 
accomplish similar goals. Regardless of the specific model employed, 
Growth Accelerators focus on helping entrepreneurs and their startups 
speed the launch, growth and scale of their businesses. A broad set of 
models used to support start-ups will better serve the entire 
entrepreneurial ecosystem. Whether an accelerator is industry focused, 
technology focused, product centric, cohort based or more long term, 
all are valuable players in the nation's high-growth entrepreneurial 
ecosystem that ultimately creates jobs.
    2. Eligibility Rules for Participating in the Competition: We 
expect that models participating in this competition will include most, 
if not all, of the following elements:
     Selective process to choose participating startups.
     Regular networking opportunities offered to startups.
     Introductions to customers, partners, suppliers, advisory 
boards and other players.
     High-growth and tech-driven startup mentorship and 
commercialization assistance.
     Shared working environments focused on building a strong 
startup community.
     Resource sharing and co-working arrangements for startups.
     Opportunities to pitch ideas and startups to investors 
along with other capital formation avenues to startups.
     Small amounts of angel money, seed capital or structured 
loans to startups.
     Service to underserved communities, such as women, 
veterans, and economically disadvantaged individuals.
    Lastly, models must be organized, and maintain a primary place of 
business, in the United States and must not have an outstanding, 
unresolved financial obligation to the U.S. government or be currently 
suspended or debarred by the U.S. government.
    3. Registration Process for Participants: Competition participants 
will submit their application through an online form which will be 
available on challenge.gov. Winners will be required to create an 
account in System for Award Management (SAM) to receive the award.
    4. Amount of Prize: Through our Growth Accelerator Fund 
competition, we will be giving away $50,000 prizes to accelerators to 
fund their operations costs and allow them to scale up or bring new 
ideas to life.
    5. Payment of Prize: Winners will be paid in a lump sum via 
Automated Clearing House (ACH).
    6. Basis Upon Which Winner Will Be Selected: Winners will be 
selected based upon how well they address the criteria identified in 
Items 2 and 7 of this announcement.
    7. Additional Information: In addition to the basic details to be 
collected in the short application, please complete a deck, like one 
you would use in a pitch competition, which must address all of the 
items below.

Mission & Vision

    1. What is your accelerator's mission in one sentence?
    2. Why is your accelerator model unique?
    3. What specific elements make your accelerator model innovative/
new?
    4. What experiences prepare your founding team for this award?

Impact

    1. What gaps will your accelerator fill?
    2. What are the specifics of your model and how it will accomplish 
the above?
    3. For existing accelerators, what has been your success/metrics so 
far?

Implementation

    1. What is your specific plan for utilizing the prize money if you 
win?
    2. If you are an existing accelerator using the funds to scale up, 
provide details of current operations, phases for scale up and Web 
site; or
    3. If you are creating a new accelerator, provide basics of 
business plan and phases for implementation.
    4. Aside from the founding team members, what will you look for in 
any new staff?
    5. What are the largest risk factors that could derail your plan?

Metrics

    1. What are your fundraising goals?
    2. Aside from metrics required by SBA, what are the 5 key metrics 
you will use to self-evaluate?
    3. What does success look like?
    Award Approving Official: Javier Saade, Associate Administrator, 
Office of Investment and Innovation, U.S. Small Business 
Administration, 409 Third Street SW., Washington, DC 20416.

    Authority: Public Law 111-358 (2011).

    Dated: April 29, 2014.
Javier Saade,
Associate Administrator, Office of Investment and Innovation.
[FR Doc. 2014-10558 Filed 5-9-14; 8:45 a.m.]
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