WASHINGTON– On Wednesday, the U.S. Small Business Administration (SBA) announced NewBoCo as a Stage One winner for the 2023 Growth Accelerator Fund Competition. NewBoCo will receive a $50,000 cash prize to build strategic partnerships that will support the launch, growth, and scale of STEM/R&D-focused small businesses.
NewBoCo’s award-winning 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.
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 out of the federal government. Applications and pitch videos were reviewed by expert judges submitted by the finalists.
NewBoCo will now compete for an additional $50,000 to $150,000 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 NewBoCo 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 building and scaling of STEM/R&D-focused small businesses. Organizations who 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, please visit www.sbir.gov/accelerators
About NewBoCo
The New Bohemian Innovation Collaborative (NewBoCo) is a 501(c)(3) organization located in the New Bohemia neighborhood of Cedar Rapids, Iowa. NewBoCo’s programming supports entrepreneurship, innovation and tech education to help Iowans become more resilient and thrive in a changing economy.