MOMENTUM Selected As Recipient Of The SBA National Growth Accelerator Fund Award
Momentum will leverage public and private investment will expand investment in the fast-growing energy and transportation startup ecosystem in the Sacramento region.
Sacramento, California – The U.S. Small Business Administration today announced awardees of its National Growth Accelerator Fund Competition, naming Sacramento-based Momentum as the only awardee in highly competitive Northern California, globally acknowledged as the funding hub for incubation and acceleration of early-stage energy and transportation start-up companies.
“I am proud to announce the winners of the 2019 Growth Accelerator Fund Competition. Over the past five years, the competition has provided awards to innovative and promising accelerators and incubators. This year’s recipients, who will each receive an award of $50,000 from the SBA, are no exception,” said Acting SBA Administrator Chris Pilkerton. “This includes entrepreneurs located in Opportunity Zones – where job creation and investments are moving forward to revitalize communities.”
“Our team of scientists, engineers, and fund development professionals is proud to be acknowledged as a recipient of SBA’s National Growth Accelerator Award,” said Shawn Garvey, Chief Executive Officer of the company. “Over our 15 year history, we’ve assisted more than 1,000 companies working to commercialize advanced energy, transportation, and manufacturing technologies.”
Founded in Nevada City, California, Momentum works to design, develop and deploy advanced energy, transportation and manufacturing technologies. The company has since grown to 3 offices throughout California and works with over 100 start-ups seeking to demonstrate and deploy their energy and transportation innovations with institutional partners, including Amazon, Port of Long Beach, University of California, Sempra Energy, Schneider Electric and Toyota.
“We’ve assisted innovators in developing more than $6 billion in private and public capital for technologies that are transforming the world and democratizing the benefits of clean energy and transportation,” said Garvey. “It’s a pivotal time in the world, and it’s our profound honor to be in service to such an important group of inspired risk-takers, entrepreneurs and creative minds.”
Momentum has helped to design and deploy some of California’s most innovative advanced technology initiatives, including the West Coast Electric Highway, California Sustainable Energy Entrepreneur Development Initiative (www.calseed.fund), California Test Bed Initiative (www.caltestbed.org), and the Zero and Near Zero Emission Freight Facilities program at Ports of Long Beach, Stockton and Oakland.
In order to better serve California’s start-up ecosystem, Momentum recently organized MXV Ventures (www.mxv.ventures), a growth accelerator focused on raising private investment to further accelerate transformative clean technology companies.
Headquartered in a nationally designated Opportunity Zone, Momentum will leverage its location and network to increase its engagement with startups throughout the region and accelerate some of the region’s most exciting and promising early-stage technologies and entrepreneurs, helping boost startup success in important Opportunity Zones throughout the Sacramento region.
About Momentum (buildmomentum.io)
Momentum designs, develops, and manages innovation campaigns for forward-thinking organizations. Momentum’s clients include entrepreneurs, public agencies and Fortune 500 companies. Their clients are working to research, develop, commercialize and operate transformative technologies. Their team—scientists and engineers, innovation and commercialization experts, fund development professionals and project managers—has leveraged $6+ billion in deployed capital in collaboration with more than 1,000 partners.
About the Growth Accelerator Fund Competition
A total of $3,000,000 was appropriated to be awarded as prizes to accelerators, incubators, co-working startup communities, or other entrepreneurial ecosystem models. Each prize of $50,000 provides operational funding to the awardee for their work in supporting startup businesses. The Competition was conducted by SBA pursuant to the government wide prize competition authority known as the America COMPETES Act (15 U.S.C. 3719). Additional information can be found at www.sba.gov/accelerators and www.sbir.gov/accelerators.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.