Press Releases

WASHINGTON – Congressman Troy Balderson (R-OH) this week introduced bipartisan legislation to extend a program designed to support small business job creation by giving entrepreneurs opportunities to immerse themselves in intense learning.

Created in 2014, the Growth Accelerator Fund Competition provides founders of early-stage companies with education, mentorship, financing, cohort-based training, and technical assistance. Balderson’s legislation would extend this Small Business Administration-run program for four years, allowing accelerators, incubators, co-working start-up companies, and other entrepreneurs compete for grants of $50,000 each.

“The Growth Accelerator Fund Competition aims to spur small businesses’ innovation and raise their presence in federal research and development efforts,” said Balderson. “That’s a win–win for both the private and public sectors by creating jobs, growing companies, and providing solutions to complex problems.”

Balderson is the ranking member of the House Small Business Committee’s Subcommittee on Innovation and Workforce Development.

BACKGROUND

This legislation was jointly introduced with Congressman Adriano Espaillat (D-NY). The Growth Accelerator Fund Competition boasts a number of success stories, including well-known companies like Airbnb, Dropbox, and Stripe.

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