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The U.S. Small Business Administration (SBA) announced the Virginia SBDC International Business Development (IBD) Program as a Stage One winner for the 2023 Growth Accelerator Fund Competition. The Virginia SBDC IBD Program will receive a $50,000 cash prize to build strategic partnerships that will support the launch, growth, and scale of STEM/R&D-focused small businesses.
The Virginia SBDC IBD Program will now compete for an additional $50,000 to $150,000 later this summer. In Stage Two of the competition the IBD Program will be seeking partners to support a âGrowth Accelerator Partnershipâ to further develop strong innovation ecosystems.