During National Entrepreneurship Week, February 12-19, we reflected on the challenges our 32.5 million small businesses have had to overcome these past few years and honor their contributions to what has been the strongest economy in decades. The Biden-Harris Administration has made great strides towards leveling the playing field for entrepreneurs from all walks of life, creating new opportunities for small businesses from historically underserved, disadvantaged communities to pivot, grow and scale while championing innovative ways for our small businesses and startups to do business. I’m honored the SBA could play a role in that critical work.
How to Get R&D Money for Your Business from the U.S. Federal Government - The U.S. government provides millions of dollars annually to stimulate innovation, entrepreneurship, and commercialization in small businesses through the program known as America’s Seed Fund. Known as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, these programs enable small businesses to explore their technological potential and provide the incentive to profit from its commercialization. Associate Administrator for the Office of Investment and Innovation, Bailey Devries said, “The SBA role is to serve as the domestic financing and assistance agency for small businesses across the country. In our office, we help to facilitate and build out an ecosystem of support organizations to help those entrepreneurs who are considering
funding to Federal and State technology partnership organizations that will provide resources and support to help navigate SBIR/STTR. The SBA is well-positioned to support because all of our resources and support are about domestic financing and assisting small businesses, so helping them get access to capital helps support building networks and education and training and information and opportunities. So think of us as a partner to the agencies that are here to help provide resources and support with the program.”
How the U.S. Government Fosters Entrepreneurship Education - Enabling federally available education resources and programs that promote lifelong learning in entrepreneurship. In a time when entrepreneurs explore new options, SBA Associate Administrator for the Office of Entrepreneurial Development, Mark Madrid shares pathways that support successful small business ownership, “Education is key and I know that resonates with small business owners who are thinking of starting their own business. They need to see examples of how other entrepreneurs did it. Entrepreneurs like Maria Rios who owns her own waste management company in Houston, Texas, called Nation Waste, Inc. Maria came from El Salvador escaping civil unrest and started with ambition and grew her business. We need to share and uplift examples of tenacious entrepreneurship like Maria to show diverse pathways to entrepreneurship.”
This year’s #NatlEshipWeek brought to the front more attention, awareness, and the need for educating small business owners, and the SBA will continue to mentor objective approach to meet the needs of entrepreneurs not benefitting from federal assistance.
The Power of Partnership: Engaging Entrepreneurial Ecosystems - From non-profits to entrepreneurial incubators, there is a robust national and local network of partners available to support entrepreneurial development.SBA Senior Advisor Jonathan Alter for the Office of Investment and Innovation explained how the SBA is supporting the ecosystem by engaging networks to reach entrepreneurs and small business owners. “Today's entrepreneurs and innovators are creating our tomorrow and building a better future for us all. A big part of our mission at SBA is to enable and empower those courageous, hard-working, passionate individuals who are helping create America's future, -- programs such as our Federal and State Technology (FAST) Partnership, Growth Accelerator Fund Competition (GAFC), and Catalyst that provide funding and support to local ecosystem builders are just some of the ways SBA empowers and enables an inclusive and equitable innovation ecosystem.”
Senior Advisor Shalei Holway with the Office of Entrepreneurial Development added “SBA’s Community Navigator Pilot Program is providing critical support to entrepreneurial ecosystems in communities that have historically been underserved, under-represented, and, or under-resourced. America is experiencing a record surge in entrepreneurship. It's critical that we support these fledgling small businesses. Our Community Navigators are harnessing the power of existing local entrepreneurial ecosystems and augmenting them, to meet America's small business owners where they are."
To learn more about the SBA’s educational, and mentoring assistance please visit: https://www.sba.gov/business-guide/10-steps-start-your-business