The U.S. Small Business Administration has received more than 800 applications from accelerators and incubators hoping to win one of 50 cash prizes of $50,000 each in the SBA's first Growth Accelerator Fund competition. August 2 was the deadline to submit an application.
Accelerators and entrepreneurial ecosystem models representing industries that include technology, health services, agriculture, fashion and food production from 49 states, Washington, D.C., and Puerto Rico make up the applicant pool. The competition was launched May 12, 2014. For the purposes of this competition, growth accelerators included incubators, accelerators, co-working startup communities, shared tinker-spaces and other business models striving to achieve similar goals.