AEDC awards $2 million to 12 accelerator programs

The Arkansas Economic Development Commission (AEDC) awarded $2 million in funding to 12 Arkansas-based accelerator programs through the Arkansas Business and Technology Accelerator Grant Program.

The Arkansas Business and Technology Accelerator Grant Program is administered by AEDC’s Small Business and Entrepreneurship Development Division and is designed to create high-skill, high-wage jobs by encouraging the development of technological products and services.

The program provides grants to accelerator applicants to sponsor business and technology programs that mentor startup companies. To qualify for the program, applicants must develop a full-time, immersive program that accelerates startups, and applicants must be in good standing with the Arkansas Secretary of State.

The following accelerators received grants through the Arkansas Business and Technology Accelerator Grant Program:

• Arkansas Global Cycling Accelerator (Startup Junkie Foundation) — $125,000
• Arkansas Lithium Technology Accelerator (The Venture Center) — $150,000
• East West Works (SURGE Arkansas) — $125,000
• Fuel AI/ML (Startup Junkie Foundation) — $150,000
• Fuel HealthTech (Startup Junkie Foundation) — $150,000
• Fuse Accelerator (Fuse) — $150,000
• gALPHA and Gbeta (Gener8tor Management) — $200,000
• OZ Retail Accelerator (Act II Capital Holdings) — $200,000
• RAMP (Corichia Brisco Enterprises) — $200,000
• ScaleUp Accelerator (Endeavor Heartland) — $150,000
• Veteran-Owned Small Business Accelerator (The Venture Center) — $200,000
• 10X Growth Accelerator (Conductor) — $200,000