SBA Supporting Regional ‘Innovative Economies’ Clusters

WASHIINGTON, D.C. — SBA Administrator Karen Mills announced September 20 the US Small Business Administration’s support for ten regional economic development and job creation efforts through a new pilot program, “Innovative Economies.”

The pilot program supports small businesses’ participation in regional economic “clusters” — collaborations between small businesses, the public sector, economic development, and other organizations.

The program will include The Connecticut Hydrogen-Fuel Cell Coalition/Cluster, administered by the Connecticut Center for Advanced Technology. This initiative works to enhance economic growth by developing, manufacturing, and deploying fuel cell and hydrogen technologies and associated fueling systems.

“Maximizing a region’s economic assets is one of the best ways to create long-term job growth, and that’s what SBA’s new Innovative Economies pilot initiative is doing,” Ms Mills said. “Today we are announcing funding support for ten regional economic clusters. SBA’s support will help expand the opportunities and the role small businesses play in these regional collaborations, which are enhancing the ability to create jobs locally and compete on a national and global scale.”

The ten “Innovative Economies” awardees selected from among 173 applicants to participate in the pilot program represent a wide range of diverse geographic areas and industries. From urban to rural and clean energy to robotics, the applicants focused on leading research and commercializing new products.

SBA’s funding will be provided to each cluster’s organizing entity to strengthen opportunities for small businesses within the cluster. The funds can be used to provide services, including mentoring and counseling small businesses, as well as to attract more small business participation.

SBA is supporting two types of innovative economies: Regional Innovation Clusters and Advanced Defense Technologies. The seven Regional Innovation Clusters focus on providing business training, commercialization and technology transfer services, counseling, mentoring, and other services that support the growth and development of small businesses in the cluster region.

The SBA also worked with the US Department of Defense to identify areas around the country where regional innovation clusters can help meet critical defense technology needs. Three Advanced Defense Technology awardees will focus on providing business training, counseling, mentoring, matchmaking, and other services to small businesses that focus on critical DoD technologies.

Among the other diverse clusters are:

*An Agriculture Innovation Cluster encompassing Monterey, Santa Cruz, and San Benito, Calif. The AIC focus is on agricultural innovation, including production, related physical and human capital infrastructure, and leading-edge agriculture research.

*The Upper Michigan Green Aviation Coalition, a public-private partnership with 41 active members, focused on expanding the green aviation industry.

*The Von Braun Center for Science and Innovation of Huntsville, Ala. VCSI’s primary focus is aerospace technology with applications for NASA, DoD, and NOAA. Its projects have included robotics for the detection of improvised explosive devices, supporting spacecraft launches, and building new micro satellites.