For Immediate Release:
September 27, 2021
Bethesda Green Wins Small Business Administration’s Growth Accelerator Fund Competition to Support Inclusive Entrepreneurship and the Development of Innovative STEM/R&D Ideas to Promote Environmental Sustainability
Bethesda, MD – Bethesda Green announced today that its Innovation Lab is one of 84 winners of the 2021 Small Business Administration Growth Accelerator Fund Competition (GAFC). The winners come from 48 states, Puerto Rico, the U.S. Virgin Islands, and the District of Columbia, and have been awarded based on their proposals for innovative ideas that inclusively support entrepreneurs researching and developing STEM-related innovations.
“This year’s cohort of winners emphasizes our commitment to equity. Our awardees have innovative plans to support underserved entrepreneurs, including women, people of color, and individuals from underrepresented geographic areas,” said SBA Administrator Isabella Casillas Guzman. “The Growth Accelerator prize funds will ensure a wide range of startups and innovators working on cutting edge STEM/R&D ideas have access to technical support and capital.”
Bethesda Green’s Executive Director, Adam M. Roberts, said of the award: “We have long argued that environmental protection and economic development are compatible; innovation from ‘eco-entrepreneurs’ will drive the long-term viability of both climate resiliency and restoration and business cultivation in America. With federal support from the SBA, the Bethesda Green Innovation Lab can increase our impact and share the vital work we undertake in Montgomery County to the rest of the nation.”
Bethesda Green will allocate award funds to address some of the many challenges faced by women entrepreneurs and provide them with access to the tools and resources they need to successfully prepare for SBIR and STTR proposals. Through this effort, Bethesda Green will 1) identify and recruit a diverse cohort of women advisors who are industry experts in STEM fields, particularly those related to Clean Energy, Clean Tech, Materials, Circular Economy, and Waste Management; 2) develop SBIR / STTR curriculum and expand commercialization training materials alongside informational programs like iCorps and ICAP, and MIPS funding opportunities to help educate participating founders early in their business development efforts; and 3) allocate scholarships for women founders to participate in Bethesda Green’s Innovation Lab Incubator program.
Patty Simonton, the Director of Be Green Business at Bethesda Green and the Innovation Lab, said “It is an honor to be recognized by the SBA for our efforts to support innovative, sustainability-focused entrepreneurs, and to be given this opportunity to expand our programming to help more founders access funding to develop the technology needed to build a clean, sustainable future. We are calling on burgeoning eco-entrepreneurs and experienced veterans of the startup community to learn more about the programs we offer here at the Innovation Lab and join our growing network of innovators. “
Applications for the Innovation Lab Accelerator Spring 2022 Cohort are due October 6th. Interested founders are invited to apply here.
About The Growth Accelerator Fund Competition (GAFC): The winners of the GAFC are accelerators and incubators who proposed targeted assistance to STEM/R&D entrepreneurs from underrepresented groups, including women, people of color, rural, and veteran entrepreneurs. The GAFC prize winners support a broad range of industries including clean energy, supply chain resilience, and infrastructure. Many accelerators and incubators also work to expand the participation of innovation-focused small businesses located in HUBZones. GAFC winners will each receive a $50,000 prize.
Competitors were required to submit a presentation deck and a 90-second video to describe their overall plan for an award, including their work with targeted entrepreneur groups, experience with STEM/R&D, and implementation plans for the prize funds. Applications were judged by panels of experts from the private and public sector with experience in early-stage investment, entrepreneurship, academic, startups, and economic development.
For a full list of winners, please visit www.sbir.gov/accelerators.
Bethesda Green’s video submission can be found here: https://www.youtube.com/watch?v=tpT1Lx01Eac
About the Bethesda Green Innovation Lab
Bethesda Green’s Innovation Lab supports leaders who are building for-profit business models around innovative and sustainable solutions to tackle environmental and social challenges, welcoming them to a community built collaboratively through citizen engagement, environmental education, government and academic partnership, and innovative business development. Through its Innovation Lab, Bethesda Green welcomes idea through seed stage companies and directs founders to the program that best meets their needs and seeks founders working on innovative solutions to elevate sustainability and promote environmental and social impact throughout the economy. Program areas of focus include: 1) Environmental Innovations: Clean Energy / Water / Clean Tech / Natural Resources / Circular Economy / Waste Management / Sustainable Fashion; and 2) Sustainable Food Systems: Agriculture / Food & Beverage / Packaging / Manufacturing / Distribution / Retail.
Contact:
Patty Simonton, Director, Be Green Business
patty@bethesdagreen.org
202.425.6576
