(Photo by Stephen Babcock)
A quartet of local accelerator programs received funding through a U.S. Small Business Administration challenge.
Through the Growth Accelerator Fund Competition, 60 incubators and accelerators around the country won awards of $50,000 each. In all, the SBA is funding $3 million.
“I am proud to announce the winners of the 2019 Growth Accelerator Fund Competition,” Acting SBA Administrator Chris Pilkerton said in a statement. “Over the past five years, the competition has provided awards to innovative and promising accelerators and incubators. This year’s recipients, who will each receive an award of $50,000 from the SBA, are no exception.”
SBA Announces $3 million for 60 Growth Accelerator Fund competition recipients supporting Startups and STEM focused Entrepreneurs! For a complete list of winners: https://t.co/iEMnY7wJtG pic.twitter.com/Knk0yprZ8u
— SBA Connecticut (@SBA_Connecticut) September 25, 2019
These are the local programs receiving funding:
- Mtech Ventures, the incubator located on the campus of University of Maryland College Park offering space and training to entrepreneurs
- F3 Tech Accelerator, the Easton-based program focusing on providing support for startups working in “farm, food and fish”
- LifeBridge Health Accelerator Program, the program of the Baltimore-based healthcare provider’s innovation team
- FastForward, the program providing a group of resources to startups that’s run by Baltimore-based Johns Hopkins Technology Ventures
The awards are designed to function as operating capital for the programs. Accelerators that received awards from the SBA agreed to focus at least 60% of work related to the funding on helping entrepreneurs who are socially and economically disadvantaged, or living in an Opportunity Zone.
Maryland’s Novavax awarded $1.6B to further develop its coronavirus vaccine
Three months after PPP launch, checking in with Baltimore businesses on aid and adapting
Parity wins JHU Social Innovation Lab’s cohort prize
Civic tech orgs unite for HACK Baltimore-ETCAccelerate Challenge
Sign-up for daily news updates from Technical.ly Baltimore