The U.S. Small Business Administration (SBA) announced a new funding solicitation for its Regional Innovation Cluster (RIC) Initiative, marking the first time awards will be made at two funding levels: emerging and mature clusters. The RIC solicitation will open on July 1, 2024, and close on July 26 at 1:00 PM ET.
"President Biden is delivering historic investments in America that continue to strengthen innovation, supply chains, and new industries, as well as spark a small business boom with 18 million new business applications filed," said Administrator Isabel Casillas Guzman. "The SBA’s Regional Innovation Cluster Initiative provides communities with funding to spur further development of industry-focused entrepreneurship ecosystems that support small businesses developing and commercializing critical technologies in key areas, such as developing safe, secure, and trustworthy AI."
Launched in September 2010, the RIC Initiative aims to promote and support the development of geographically concentrated groups of interconnected businesses, suppliers, service providers, and associated institutions within specific industries across the country. These clusters serve as networking hubs for small businesses by providing resources to navigate funding, procurement, and supply-chain opportunities. They also assist businesses in matching technology to industry needs and increasing the number of innovative small businesses in the nation's supply chain.
Emerging clusters develop and deploy small business support services within their designated regions and industries. The RIC Initiative enables them to scale their programming to reach more small businesses. Mature clusters have experience building and implementing programs to support small businesses; the initiative allows them to enhance their programming effectiveness and strengthen partnerships.
"The Office of Investment and Innovation catalyzes the development and growth of industry clusters across the country," said Associate Administrator Bailey DeVries. "The new funding levels are part of our ongoing effort to right-size our support for industry clusters across their full life span."
The SBA’s Investment and Innovation Ecosystem Development in the Office of Investment and Innovation will host a webinar on July 9, 2024 at 3:00 PM ET to discuss the solicitation. Interested offerors can submit questions related to the solicitation until July 11 at 1:00 PM ET via email to RICInitiative2024@sba.gov. All answers will be posted publicly on the solicitation page.
The solicitation is available at SAM.gov. Eligibility is open to all non-profit and for-profit firms with an active SAM.gov registration eligible for federal contracts at time of offer.
For more information about the RIC Initiative, including current RICs, visit: Regional Innovation Clusters | U.S. Small Business Administration (sba.gov).
About SBA’s Office of Investment and Innovation
The SBA's Office of Investment and Innovation leads programs providing growth-oriented small businesses with access to financial capital, networks, assistance, and R&D funds for commercially viable innovations through public-private partnerships.
About the U.S. Small Business Administration
The SBA empowers entrepreneurs with resources needed for starting, growing or expanding their businesses or recovering from disasters through an extensive network of field offices and partnerships with public and private organizations.
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