VentureWell Is Awarded $50,000 in Prize Money To Catalyze Relationships and Develop Growth Accelerator Partnerships
The U.S. Small Business Administration (SBA) has announced VentureWell as a Stage One winner for the 2023 Growth Accelerator Fund Competition. Competition winners will be awarded a $50,000 cash prize to build strategic partnerships that will support the launch, growth, and scale of STEM/R&D-focused small businesses.
The model will amplify the impact and success of Growth Accelerator Partnerships and will work to foster and facilitate a thriving national ecosystem that advances equitable investment in innovative high-growth small businesses. This year’s competition has brought together organizations, entities, groups, and individuals beyond geographic boundaries to support the innovators and innovation needed to confront the challenges of today.
“We’re grateful for this recognition and support from the SBA. Being chosen as a Growth Accelerator Fund winner will allow us to establish the VentureWell Ecosystem Partner Network, through which VentureWell will build pathways to diversify the voices and participants in the global community of emerging entrepreneurs,” said Christina Tamer, vice president, Ventures, at VentureWell. “Through this network, we’ll collaboratively develop, design, and deliver programs that provide on-the-ground, direct support to entrepreneurs and small businesses.”
Winners of Stage One were selected through a multi-tier review panel process with experts in entrepreneurship, business, innovation, and strategic planning, both inside and outside of the federal government. Applications and pitch videos submitted by the finalists were reviewed by expert judges as part of the selection process.
Building on its selection for Stage One, VentureWell will compete for an additional $50,000 to $150,000 during the next phase of the competition later this summer. From inequity and climate change to supporting national defense and community-driven economic prosperity, the real opportunity is now to build up innovation ecosystems, and VentureWell is eager to make an impact.
Stage Two cash prizes will support the Growth Accelerator Partnerships to further develop strong innovation ecosystems to fast-track the building and scaling of STEM/R&D-focused small businesses. Organizations that were not selected in Stage One—as well as diverse local, regional, and national entities from any sector or location—are eligible to connect with Stage One winners to develop partnerships in a bid for Stage Two prizes.
For more information about the Growth Accelerator Fund Competition, visit www.sbir.gov/accelerators.