[Federal Register Volume 81, Number 148 (Tuesday, August 2, 2016)]
[Notices]
[Pages 50780-50781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18244]


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SMALL BUSINESS ADMINISTRATION


Announcement of Funding Pool Size for the Growth Accelerator Fund 
Competition

AGENCY: U.S. Small Business Administration

ACTION: Notice.

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SUMMARY: On May 4, 2016, the U.S. Small Business Administration (SBA) 
published a notice in the Federal Register (81 FR 26861) to announce 
the 2016 Growth Accelerator Fund Competition, pursuant to the America 
Competes Act (15 U.S.C. 3719), to identify the nation's most innovative 
accelerators and similar organizations and award them cash prizes they 
may use to fund their operations costs and allow them to bring startup 
companies to scale and new ideas to life, including providing 
assistance to small businesses submitting proposals through the Small 
Business Innovation Research and/or Small Business Technology Transfer 
Programs (SBIR/STTR). In partnership with several U.S. agencies, SBA 
will be awarding prizes to winners from a total funding pool size of up 
to $3.4 million. The $50,000 prize to each winner will be paid from the 
total funding pool, including SBA's appropriated funds, and will be 
provided to each winner via check. This notice serves as an update to 
the original notice affecting only the funding pool size of prizes to 
be awarded to competition winners. All rules and requirements outlined 
in the May 4, 2016, Federal Register notice will remain in effect.
Competition Details
     Prizes for Winners: SBA is partnering with the National 
Institutes of Health (NIH), the National Science Foundation (NSF), and 
the Department of Education (DoED) to create a total funding pool size 
of up to $3.4 million to provide additional prizes to accelerators that 
assist entrepreneurs in submitting SBIR/STTR proposals. Special 
consideration will be given to

[[Page 50781]]

accelerator models that support women-owned or minority-owned small 
businesses and/or that assist entrepreneurs with submitting SBIR/STTR 
proposals. SBA's Office of Investment and Innovation (OII) will also be 
partnering with the Office of Native American Affairs (ONAA) and the 
Office of Veterans Business Development (OVBD) to award additional 
prizes to accelerators assisting the Native American and U.S. Veterans 
start-up community. SBA anticipates awarding up to 68 market 
stimulation cash prizes of $50,000 each to the highest-rated 
contestants that also represent the greatest degree of achieving 
national geographic distribution in both urban and rural areas, 
including at minimum: 14 accelerator models focused in Native American 
populations (American Indian, Alaska Native or Native Hawaiian); 2 
accelerator models focused on the Veterans community and Veteran 
entrepreneurship; 20 accelerator models focused on life-sciences 
(medical); 10 accelerator models focused on science and engineering 
(non-medical), and 2 accelerator models focused on education research 
technology. SBA is also partnering with the Inter-American Development 
Bank (IDB) to provide a prize directly from IDB to 1 accelerator model 
focused on assisting the African descendant start-up community in Latin 
America and the Caribbean. Prizes will be paid in lump sum via the 
Automated Clearing House (ACH). Winners will be required to create an 
account in the System for Award Management (SAM) in order to receive an 
award.

    Authority:  Pub. L. 111-358 (2011).

    Dated: July 27, 2016.
Mark Walsh,
Associate Administrator, Office of Investment and Innovation.
[FR Doc. 2016-18244 Filed 8-1-16; 8:45 am]
 BILLING CODE 8025-01-P