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Accelerate CA: Inclusive Innovation Hub Program Round 2

Grantor:
Governor's Office of Business and Economic Development
Departmental Grant ID:
ACAHUB2023
Portal ID:
42887
Status:
Closed
Opportunity Type:
  • Grant
Last Updated:
Categories:

Details

Purpose:

Eligible organizations can apply to administer a grant program for the State to facilitate the transformation of invention to impact by accelerating the startup and growth of innovation-based firms in key industry areas with a focus on diverse founders, including women, people of color, and underserved geographies and regions. Successful applicants will receive the Accelerate CA: Inclusive Innovation Hub (Accelerate CA Hub) designation.

 

Description:

The Accelerate California: Inclusive Innovation Hub Program will designate a total of thirteen (13) Accelerate California Hubs. A total of seven (7) designations were made in the first round of applications. Six (6) designations remain for awarding in this second round.

An Accelerate California: Inclusive Innovation Hub (Accelerate CA Hub) may do all of, but shall not be limited to the following:

• Provide low and/or no-cost technical assistance to innovation-based enterprises, early-stage companies and startups seeking non-dilutive funding, debt funding, as well as equity funding via angel and/or venture capital. An Accelerate CA Hub shall make every effort to ensure services are accessible and equitably available to underserved geographic areas and underserved business owners. An Accelerate CA Hub will work to expand partnerships and relationships with the investment community to ensure Accelerate CA Hub companies have access to potential funding opportunities via pitch competitions, investor screening, etc.

• Develop and/or leverage an existing innovation-focused ecosystem aimed at providing subject matter expertise, mentorship, access to resources, and engagement with regional partners to ensure equitable access to the Accelerate CA Hub, including, but not limited to, state universities and research institutes, angel and venture capital groups, incubators and accelerators, state community colleges, local governments, state and federal technical assistance providers, private industry, workforce investment boards and agencies, small business and microenterprise development organizations, economic development organizations, community-based organizations, and chambers of commerce.

• Develop inclusive innovation focused programming that is aimed at facilitating the transformation of invention to impact and supporting the growth and development of high scale and/or high growth companies including, but not limited to: the entrepreneurial mindset, launching new entrepreneurial ventures, managing a growing business, commercialization road mapping, bootstrapping your business, new venture opportunity analysis, commercializing entrepreneurial innovation, traversing the funding landscape, customer discovery and development, lean startup methodology, how to get “Investor Ready”, commercializing federal and /or university technologies, reduction of technical and market risk for a product, service, or technology through a trial or pilot, how to build a C-level team, how to write a Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) Grant Proposal, Commercialization planning, go-to market strategies and other innovation focused programming that coincides with the objectives of this program. 

 

Eligibility Requirements

Eligible Applicants:

  • Business
  • Nonprofit
  • Other Legal Entity
  • Public Agency

Review the Program Announcement section "Eligibility Requirements" for complete details on eligible entity types.

 

Eligible Geographies:

State of California

 

Matching Funding Requirement:

This Program does not have a match requirement.

 

Important Dates

The date (and time, where applicable) by which all applications must be submitted to the grantmaker. Time listed as “00:00” equates to midnight.
The date on which the grantor expects to announce the recipient(s) of the grant.
09/29/2023
The length of time during which the grant money must be utilized.
10/01/23-06/30/27

Funding Details

The total projected dollar amount of the grant.
$6,000,000
A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
6
Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
$1,000,000
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • State

Funding Source Notes:

This program is funded by the State of California General Fund. The Program was created in 2013 by Assembly Bill No. 250 (Code (GC) §§ 12096-12098.5), amended in Senate Bill 151 (Government Code Section 12099.1) and amended in 2022 via SB 193 (Government Code § 12099.1).

 

The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

Funding Method Notes:

The Accelerate CA Hub will be compensated on a cost reimbursement basis. However, an Accelerate CA Hub may request an up-front payment of up to 20% of its total award amount.

 

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
CalOSBA Programs, 1-877-345-4633, calosbaprograms@gobiz.ca.gov

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