We at KiiLN are thrilled to announce that the Small Business Administration (SBA) has once again recognized our efforts as an accelerator for biotech startups. The SBA selected us as one of 20 winners in the 2017 Growth Accelerator Fund Competition after a two-round review process which included a video pitch. Congratulations to our fellow winners and a huge thank-you to the SBA for supporting this network of accelerators that are building the businesses of the future!
About the Growth Accelerator Fund Competition
The US Small Business Administration announces today 20 winners of the fourth Growth Accelerator Fund competition. The accelerators represent a broad set of industries and sectors from manufacturing to tech start-ups to farming with a diversified range of demographic groups.
Each organization will receive a cash prize of $50,000 from the SBA. In accepting these funds, the accelerators will be committing to bi-annual reporting for one year and will be required to report metrics on jobs created, funds raised, startups launched, and corporate sponsors obtained, among other pieces of information. These metrics will allow the SBA to maintain a useful dataset of accelerators and their impact, and to develop long-term relationships with the startups and constituents in these innovative and entrepreneurial communities.
Winners were selected through a two-tier review panel process with experts in entrepreneurship, investing, and business plans both inside and out of the federal government. Expert judges reviewed the applications and pitch videos submitted by the finalists.
The purpose of the competition is to draw attention and funding to parts of the country where there are gaps in the entrepreneurial ecosystem. There are entrepreneurial activities taking place in all 50 states, but some are better supported by private sector ecosystems than others.
Keystone for Incubating Innovation in Life sciences Network, KiiLN, is an accelerator dedicated to helping early-stage biotech companies. The primary purpose of KiiLN is to address the need for business assistance for young scientific startups. We will foster a community of like-minded entrepreneurial scientists to aid in the success of these companies by providing networking, mentoring and access to experienced entrepreneurs. The KiiLN community will contribute to the growing life science community in New York by building a culture that sustains innovation.