[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]
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