The SBA Just Awarded Out $3 Million Dollars
Another huge win for entrepreneurship has recently been announced! The U.S. Small Business Administration (SBA) just awarded 60 business accelerators $3 million in their recent competition.
We are so happy to share that two of our very own Resource Partners were recipients:
For the fifth year, the U.S. Small Business Administration launched the Growth Accelerator Fund competition for the nation's most innovative and promising small business accelerators and incubators to compete for monetary prizes of $50,000 each.
This year’s award recipients will focus at least 60 percent of their competition-related work to entrepreneurs who represent one of the following groups: women; socially and economically disadvantaged individuals; entrepreneurs living in or whose businesses are located and operate in states with a lower number of SBIR/STTR awards, or in an Opportunity Zone.
If you’re still asking yourself why this matters, keep reading. Accelerators support small business in development, growth and scaling. When small business is supported, our local economies receive a boost. If you’ve checked out the Show Me Jobs report, you know that 80% of new jobs were provided by startups in 2018 alone. Supporting our Resource Partners with their own resources is important for entrepreneurs and our economy.
Kudos to all of the winners of the competition and cheers to this boost for Missouri entrepreneurship.
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Entrepreneurial activity is the most significant producer of net new jobs. There are no guesses or estimates-- only current data that reflects just how important Missouri entrepreneurship is to the economy.