The U.S. Small Business Administration recently announced this year’s winners for its Growth Accelerator Fund Competition Stage One, and one Hawaii organization — XLR8HI — is among the national list.
In a release announcing the award recipients, SBA officials said that the winning organizations were selected for “impactful and inclusive approaches to foster[ing] a thriving, collaborative national innovation support ecosystem to advance small business research and development.”
Each of the winners received $50,000.
“SBA’s Growth Accelerator Fund Competition Stage One winners join the SBA’s incredible network of entrepreneurial support organizations contributing to America’s innovative startup ecosystem, ensuring the next generation of science and technology-based innovations scale into thriving businesses,” said SBA Administrator Isabel Casillas Guzman in a statement. “In its tenth year of driving our nation’s innovation ecosystem forward, this competition provides a unique opportunity to recognize the critical importance of those who help entrepreneurs from all backgrounds access opportunities to scale and grow. These GAFC winners advance American competitiveness and help us build an innovation economy that works for everyone.”
Winners were recognized across three categories: national and economic security, domestic manufacturing and production, and sustainability and biotechnology.
XLR8HI, which won in the domestic manufacturing and production category, is an entrepreneurship center that launched in 2012 with the goal of helping Hawaii entrepreneurs succeed. Its programs and workshops include preX, an accelerator that aims to help businesses scale.
Tarik Sultan, managing director of XLR8HI, said that with the award, “XLR8HI intends to expand upon the success of our award-winning program – preX – by connecting and collaborating with both existing and new ecosystem partners to provide a diverse range of support services to small businesses and startups.”
Mike Arriola, the acting district director of the SBA Hawaii District Office, said in a statement that “SBA is pleased to announce this award under our Growth Accelerator Fund Competition to XLR8HI.”
“We are confident that this award will enable the XLR8HI team to further elevate and empower Hawaii founders and business owners as the team fosters a culture of innovation and inclusion within Hawaii’s entrepreneurial community.”
According to SBA, stage two of the competition will offer further funding opportunities of an additional $50,000 to $150,000.
