The U.S. Small Business Administration (SBA) recently embarked on its America’s Seed Fund Road Tour, a national outreach effort aimed at connecting entrepreneurs working on advanced and innovative technology with funding opportunities. The Road Tour, which visited Orlando, Florida, on February 7 and Puerto Rico on February 9, seeks to engage startups and small businesses and help them access the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
"America relies on ingenuity to develop critical technologies and create the industries of the future, and we need all great ideas and inventions to propel our global leadership," said Administrator Guzman during the tour. "This is a remarkable time to start up in this country – under the Biden-Harris Administration, we are Investing in America, research and development, advanced manufacturing, clean energy, and more."
The America’s Seed Fund, comprising the SBIR/STTR programs, provides over $4 billion each year in non-dilutive funding from 11 participating federal agencies. The Road Tour aims to connect underrepresented groups in innovation and entrepreneurship with these sources of capital. By raising awareness of the SBIR/STTR programs at the local and regional level, the SBA hopes to spur technological innovation and build a thriving and secure American economy.
The Florida High Tech Corridor hosted the Road Tour stop in Orlando, while the Puerto Rico Small Business Technology Development Center hosted the event in Puerto Rico. Both stops attracted hundreds of innovators and entrepreneurs who were eager to learn more about America's Seed Fund programs. The attendees had the opportunity to participate in one-on-one meetings with nearly two-dozen federal agency representatives.
"The America’s Seed Fund Road Tour plays an important role in educating and encouraging entrepreneurs, many of whom are historically underrepresented in America’s innovation economy, to access federal resources available through the SBIR/STTR programs," said Bailey DeVries, Associate Administrator for Investment and Innovation at the SBA. "Raising awareness of this program is imperative to spurring technological innovation and building a thriving and secure American economy."
Looking ahead, three more in-person road tours are scheduled later in 2024 in the South, Southeast, and Great Lakes regions. These tours will provide further opportunities for startups and small businesses to connect with federal agencies and explore funding options.
The SBA's efforts to support innovation and small businesses align with its mission to make the American dream of business ownership a reality. As the go-to resource and voice for small businesses, the SBA empowers entrepreneurs and small business owners by providing the resources and support they need to start, grow, or recover from a declared disaster.
The SBA's Office of Investment and Innovation (OII) leads programs that provide the high-growth small business community with access to financial capital and R&D funds. These programs are underpinned by public-private partnerships that help small businesses on their journey from idea to IPO.
By bringing together entrepreneurs, federal agencies, and funding opportunities, the America’s Seed Fund Road Tour is paving the way for innovation and economic growth. Through these efforts, the SBA is fostering a thriving ecosystem where great ideas and inventions can flourish, propelling the nation forward.
