The U.S. Small Business Administration (SBA) has announced the addition of 14 new awards to its Regional Innovation Cluster (RIC) network. This expansion aims to support small businesses and entrepreneurial organizations nationwide, fostering innovation and job creation.
Administrator Isabel Casillas Guzman emphasized the significance of these awards, stating, "As the Biden-Harris Administration continues to deliver historic investments in America that strengthen innovation, manufacturing, and emerging industries, these 14 new awardees will serve as vital hubs connecting entrepreneurs with the resources needed to develop cutting-edge technologies critical to the nation’s economic and security priorities."
Bailey DeVries, Associate Administrator for SBA's Office of Investment and Innovation, highlighted a new approach in funding allocation: "For the first time, the SBA is tailoring funding for emerging and mature clusters." This strategy acknowledges that innovation clusters vary in their development stages and allocates funds accordingly.
The RIC Initiative was launched in September 2010 to foster geographically concentrated groups of interconnected businesses within specific industries. These clusters act as networking hubs for small businesses, facilitating access to funding, procurement opportunities, and supply chain resources.
Brittany Sickler from SBA’s Investment and Innovation Ecosystems stated, "For 14 years, the RIC Initiative has had an incredible impact in communities and industries across the country."
The new Regional Innovation Clusters include:
- AgTech Innovation Alliance supporting AgriFoodTech businesses in California’s Central Valley.
- Applied Research Institute focusing on biotech businesses in central Indiana.
- Bounce Innovation Hub aiding medical device innovators in Northeast Ohio.
- Celdara Medical assisting life science firms across several Northeastern states.
- CleanTech Alliance Washington promoting clean technology in Washington state.
- Hyperion Technologies developing clean tech in Arizona's Four Corners region.
- Integrative Business Services advancing AI and optics companies in Southern Arizona.
- LSI Business Development supporting advanced manufacturers in Utah.
- RIoT building IoT technologies in North Carolina.
- Shadow Ridge Analytics focusing on engineering sectors in Southwest Montana.
- Southwestern College Foundation aiding biotech firms in San Diego area.
- StartUp Junkie Consulting leveraging Lithium technology across parts of Texas and neighboring states.
- The Water Council supporting water industry innovations in Wisconsin.
- UpSurge Baltimore fostering cybersecurity advancements around Baltimore.
These clusters are expected to enhance America's competitiveness by supporting innovative small businesses.