As the new year approaches, the U.S. Small Business Administration (SBA) is gearing up for its highly anticipated 2025 Growth Accelerator Fund Competition (GAFC), set to open applications on Jan. 8, 2025. This initiative aims to distribute up to $9 million in grants to support innovative entrepreneur support organizations (ESOs) operating in underserved communities across the nation.
What is the growth accelerator fund competition?
The GAFC is designed to address critical gaps within entrepreneurial ecosystems, particularly in areas that lack sufficient resources and support. By providing financial assistance, the SBA seeks to enhance capital access, foster collaboration and elevate entrepreneurial resources in trending industries.
Grant details and application process
Organizations interested in participating can apply for grants ranging from $75,000 to $150,000. These funds are intended to strengthen innovation ecosystems and expand access to entrepreneurship throughout the country. Isabel Casillas Guzman, the SBA’s administrator, emphasized the importance of this competition, stating that it will help advance “America’s global leadership” in critical industries.
“The 2025 Growth Accelerator Fund Competition will build on SBA’s legacy of strengthening innovation ecosystems by deepening the incredible entrepreneur support organization partnerships we have on the ground in undercapitalized communities across the country,” Guzman stated in a press release.
Focus areas for 2025
This year’s competition will focus on two primary themes in stage one: lab-to-market and capital formation. The lab-to-market theme aims to bridge the gap between research and commercialization, particularly in sectors vital to national and economic security, domestic manufacturing and biotechnology.
On the other hand, the capital formation theme explores ways ESOs can enhance investment access for entrepreneurs and small businesses during their early stages. This could involve developing innovative funding methods, improving investment literacy and addressing various challenges related to funding access.
Important dates to remember
Application opening: Jan. 8, 2025
Application deadline for stage one: Jan. 31, 2025
Awards announcement: April 2025
Stage two winners announcement: September 2025
The SBA encourages potential applicants to participate in the GAFC Pre-Application Webinar, which is free and open to the public, scheduled for Jan. 9, 2025. This webinar will provide valuable insights into the application process and the competition’s objectives.
Past success and future aspirations
The competition has gained momentum over the past decade, with significant awards distributed in previous years. In 2023, the SBA awarded up to $3 million in the first stage and $5.75 million for the overall competition. This trend highlights the SBA’s commitment to fostering innovation and entrepreneurship across the country.
As the 2025 GAFC approaches, it presents a unique opportunity for organizations dedicated to supporting entrepreneurs in underserved communities. By participating, these organizations can not only secure funding but also contribute to the broader goal of enhancing America’s global competitiveness in emerging technologies.
The 2025 Growth Accelerator Fund Competition represents a significant step towards empowering innovative organizations that are crucial for the growth of entrepreneurship in underserved areas. With the application process opening soon, interested organizations should prepare to align their proposals with the competition’s themes and take advantage of this opportunity to make a lasting impact.
