Announcement of Growth Accelerator Fund Competition, 26861-26862 [2016-10467]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 81, Number 86 (Wednesday, May 4, 2016)]
[Notices]
[Pages 26861-26862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10467]


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SMALL BUSINESS ADMINISTRATION


Announcement of Growth Accelerator Fund Competition

AGENCY: U.S. Small Business Administration.

ACTION: Notice.

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SUMMARY: The U.S. Small Business Administration (SBA) announces the 
2016 Growth Accelerator Fund Competition, pursuant to the America 
Competes Act, to identify the nation's most innovative accelerators and 
similar organizations and award them cash prizes they may use to fund 
their operations costs and allow them to bring startup companies to 
scale and new ideas to life.

DATES: The submission period for entries begins 12:00 p.m. EDT, May 2, 
2016 and ends June 3, 2016 at 11:59 p.m. EDT. Winners will be announced 
no later than August 24, 2016.

FOR FURTHER INFORMATION CONTACT: Nareg Sagherian, Office of Investment 
and Innovation, U.S. Small Business Administration, 409 Third Street 
SW., 6th Floor Washington, DC 20416, (202) 205-7576, 
accelerators@sba.gov.

SUPPLEMENTARY INFORMATION: 

Competition Details

    1. Subject of Competition: The SBA is seeking to identify the 
nation's most innovative and promising small business accelerators and 
incubators in order to infuse them with additional resource capital 
that ultimately stimulates the growth and development of startups from 
within the entrepreneurial communities they serve. For the purposes of 
this competition, Growth Accelerators include accelerators, incubators, 
co-working startup communities, shared tinker-spaces or other models to 
accomplish similar goals. Regardless of the specific model employed, 
Growth Accelerators focus on helping entrepreneurs and their startups 
speed the launch, growth and scale of their businesses. A broad set of 
models used to support start-ups will better serve the entire 
entrepreneurial ecosystem. Whether an accelerator is industry focused, 
technology focused, product centric, cohort based or more long term, 
all are valuable players in the nation's high-growth entrepreneurial 
ecosystem that ultimately creates jobs.
    2. Eligibility Rules for Participating in the Competition: This 
Competition is open only to private entities, such as corporations or 
non-profit organizations that are incorporated in and maintain a 
primary place of business in the United States. Entities that have an 
outstanding, unresolved financial obligation to, or that are currently 
suspended or debarred by, the federal government are not eligible for 
this Competition. Federal, state, local and tribal agencies are also 
not eligible for this Competition. Additionally, participants in this 
Competition must utilize models of operation that include most, if not 
all, of the following elements:
     Selective process to choose participating startups.
     Regular networking opportunities offered to startups.
     Introductions to customers, partners, suppliers, advisory 
boards and other players.
     High-growth and tech-driven startup mentorship and 
commercialization assistance.
     Shared working environments focused on building a strong 
startup community.
     Resource sharing and co-working arrangements for startups.
     Opportunities to pitch ideas and startups to investors 
along with other capital formation avenues to startups.
     Small amounts of angel money, seed capital or structured 
loans to startups.
     Service to underserved communities, such as women, 
veterans, and economically disadvantaged individuals.
    3. Registration Process for Participants: Competition participants 
must submit their 2016 Growth Accelerator Fund applications online 
using the link designated for that purpose on challenge.gov, either by 
filtering search criteria to ``Small Business Administration'' or going 
to sba.gov/accelerators, where the link will be posted. In addition to 
the basic details collected in that short application form, contestants 
must also complete and submit via challenge.gov a deck, similar to one 
that would be used in a pitch competition, which must address all of 
the items identified below:

Mission and Vision

     What is your accelerator's mission in one sentence?
     What specific elements make your accelerator model stand 
out?
     What experiences prepare your team for this?

Impact

     What gaps does or will your accelerator fill?
     What are the specifics of your model and how it will 
accomplish the above?
     For existing accelerators, what has been your success/
metrics so far?
     For existing accelerators, please explain your overall 
statistics of the start-up life cycle?

Implementation

     What is your plan for the prize money if you win?
     If you are an existing accelerator using the funds to 
scale up, provide

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details of current operations, phases for scale up and Web site; or
     If you are creating a new accelerator, provide basics of 
business plan and phases for implementation.
     Aside from the founding team members, what do you look for 
in staff?
     What are the largest risk factors you see?

Metrics

     What are your fundraising goals or metrics? (aside from 
the 4-to-1 match)
     Is there a plan in place to secure/work to secure funds 
(cash, in-kind donations, or sponsorships) in a 4-to-1 proportion to 
the prize dollars received?
     Aside from metrics required by SBA, what are 5 key metrics 
you will use to self-evaluate?
     What does success look like?
    4. Prizes for Winners: In 2016, SBA is partnering with several U.S. 
agencies (NIH, NSF, DoED, USDA) to provide additional prizes to 
accelerators that assist entrepreneurs in submitting SBIR/STTR 
proposals. SBA is also partnering with the Inter-American Development 
Bank to provide prizes to accelerators that assist the African 
descendant start-up community in the Latin America and the Caribbean. 
Special consideration will be given to these accelerator models which 
support women-owned or minority-owned small businesses, with the 
highest-rated contestants that also represent the greatest degree of 
achieving national geographic distribution in both urban and rural 
areas. SBA's Office of Investment and Innovation (OII) will also be 
partnering with the Office of Native American Affairs (ONAA) and the 
Office of Veterans Business Development (OVBD) to award additional 
prizes to accelerators assisting the Native American and U.S. Veterans 
start-up community. Prizes will be paid in lump sum via the Automated 
Clearing House (ACH). Winners will be required to create an account in 
the System for Award Management (SAM) in order to receive an award.
    5. Selection of Winners: Winners will be selected based upon how 
well they address the criteria identified in Items 2 and 3 of this 
Competition announcement. In addition, in order to achieve nationwide 
distribution of prizes for the purpose of stimulating the growth and 
development of startups across the entire United States, SBA may take 
into account applicants' geographic locations and areas of service when 
selecting winners, including support to geographic regions that 
traditionally have limited access to capital, the underserved, women, 
the maker community, and American Indian, Alaska Native or Native 
Hawaiian populations.
    6. Applicable Law: This Challenge is being conducted by SBA 
pursuant to the America Competes Act (15 U.S.C. 3719) and is subject to 
all applicable federal laws and regulations. By participating in this 
Challenge, each contestant gives its full and unconditional agreement 
to the Official Rules and the related administrative decisions 
described in this notice, which are final and binding in all matters 
related to the Challenge. A contestant's eligibility for a prize award 
is contingent upon their fulfilling all requirements identified in this 
notice. Publication of this notice is not an obligation of funds on the 
part of SBA. SBA reserves the right to modify or cancel this Challenge, 
in whole or in part, at any time prior to the award of prizes.
    7. Conflicts of Interest: No individual acting as a judge at any 
stage of this Challenge may have personal or financial interests in, or 
be an employee, officer, director, or agent of any contestant or have a 
familial or financial relationship with a contestant.
    8. Intellectual Property Rights: All entries submitted in response 
to this Challenge will remain the sole intellectual property of the 
individuals or organizations that developed them. By registering and 
entering a submission, each contestant represents and warrants that it 
is the sole author and copyright owner of the submission, and that the 
submission is an original work of the contestant, or if the submission 
is a work based on an existing application, that the contestant has 
acquired sufficient rights to use and to authorize others to use the 
submission, and that the submission does not infringe upon any 
copyright or upon any other third party rights of which the contestant 
is aware.
    9. Publicity Rights: By registering and entering a submission, each 
contestant consents to SBA's and its agents' use, in perpetuity, of its 
name, likeness, photograph, voice, opinions, and/or hometown and state 
information for promotional or informational purposes through any form 
of media, worldwide, without further payment or consideration.
    10. Liability and Insurance Requirements: By registering and 
entering a submission, each contestant agrees to assume any and all 
risks and waive claims against the Federal Government and its related 
entities, except in the case of willful misconduct, for any injury, 
death, damage, or loss of property, revenue, or profits, whether 
direct, indirect, or consequential, arising from their participation in 
this Challenge, whether the injury, death, damage, or loss arises 
through negligence or otherwise. By registering and entering a 
submission, each contestant further represents and warrants that it 
possesses sufficient liability insurance or financial resources to 
cover claims by a third party for death, bodily injury, or property 
damage or loss resulting from any activity it carries out in connection 
with its participation in this Challenge, or claims by the Federal 
Government for damage or loss to Government property resulting from 
such an activity. Challenge winners should be prepared to demonstrate 
proof of insurance or financial responsibility in the event SBA deems 
it necessary.
    11. Record Retention and Disclosure: All submissions and related 
materials provided to SBA in the course of this Competition 
automatically become SBA records and cannot be returned. Contestants 
should identify any confidential commercial information contained in 
their entries at the time of their submission.
    Award Approving Official: Mark Walsh, Associate Administrator, 
Office of Investment and Innovation, U.S. Small Business 
Administration, 409 Third Street SW., Washington, DC 20416.

    Authority:  Pub. L. 111-358 (2011).

    Dated: April 20, 2016.
Mark Walsh,
Associate Administrator, Office of Investment and Innovation.
[FR Doc. 2016-10467 Filed 5-3-16; 8:45 a.m.]
 BILLING CODE 8025-01-P