Innovation Incubator and Accelerator Grants

The City of Sacramento Office of Innovation and Economic Development is offering Incubator and Accelerator Grants to fund organizations that support start-up businesses and entrepreneurs in the Sacramento region. The program's mission aligns with stimulating economic development and fostering innovation by nurturing early-stage businesses. The grant size ranges from $10,000 to $100,000, with a total allocation of approximately $500,000, and a grant duration of one year. The deadline for applications is September 9, 2024. The target beneficiaries are early-stage businesses and entrepreneurs within the Sacramento region, particularly those with high growth potential and innovative solutions. The primary impact goal is for participants of the funded incubator and accelerator programs to successfully start or grow their businesses, thereby spurring innovation and stimulating economic development locally. Non-profits and companies are invited to apply for funding to run these programs. The grant prioritizes programs that offer a comprehensive suite of services, including mentorship and coaching from experienced professionals, educational workshops on business planning and financial management, product development support, and legal and administrative assistance. Furthermore, programs should focus on marketing and branding support, strategic partnerships, and facilitating access to funding through pitch training and investor introductions. Access to shared office space is also a valuable component. Expected outcomes include a measurable increase in the number of new businesses started and existing businesses grown within the Sacramento region. The program aims to foster a vibrant entrepreneurial ecosystem, leading to job creation and economic prosperity. The City's strategic priority is to invest in initiatives that directly contribute to innovation and economic growth, with the theory of change being that by supporting early-stage businesses through comprehensive programs, they will be better equipped to succeed and contribute to the local economy. Eligible activities for grant expenditures are broad, covering program development and delivery, staff salaries, stipends for volunteers and participants, training supplies, office space, marketing, and even food for participants (up to 5% of the grant total). Scholarships for program participants, software subscription fees, and professional services are also permissible. Applicants must operate from a fixed place of business within Sacramento city limits, or provide grant-supported programming within the city, and be in compliance with current and past City grants.