Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Knoxville Business News Tennessee Mountain Scenery Background
July 01, 2024 | Tom Ballard

SBA opens up applications for new Regional Innovation Clusters

Proposals will be accepted for the first time at two funding levels: emerging and mature clusters.

The U.S. Small Business Administration (SBA) has announced a new funding solicitation for the Regional Innovation Cluster (RIC) Initiative that will make awards for the first time at two funding levels: emerging and mature clusters. The RIC solicitation opened on July 1 and will close on July 26 at 1 p.m. EDT.

Launched in September 2010, the RIC Initiative is designed to promote and support the development of clusters, which are geographically concentrated groups of interconnected businesses, suppliers, service providers, and associated institutions in a particular industry or field across the country. Two of the RICs are managed by Memphis-based AgLaunch.

“The SBA’s Regional Innovation Cluster Initiative provides communities with funding to spur further development of industry-focused entrepreneurship ecosystems that support small businesses developing and commercializing critical technologies in key areas, such as developing safe, secure, and trustworthy AI,” said SBA Administrator Isabel Casillas Guzman. “Our two new funding levels will support both emerging and mature industry clusters and help ensure small business innovators have access to the technical assistance, industry knowledge, and capital products necessary to start and grow their businesses.”

SBA’s Office of Investment and Innovation will host a webinar at 3 p.m. EDT on July 9 although there was no link provided to register. It is possible to secure a link by emailing

Like what you've read?

Forward to a friend!

Don’t Miss Out on the Southeast’s Latest Entrepreneurial, Business, & Tech News!

Sign-up to get the Teknovation Newsletter in your inbox each morning!

  • This field is for validation purposes and should be left unchanged.

No, thanks!