Startup Tucson Wins Stage Two of 2024 Growth Accelerator Fund Competition

Startup Tucson, in collaboration with University of Arizona Center for Innovation and other partners, has won Stage Two of the U.S. Small Business Administration’s 2024 Growth Accelerator Fund Competition. 

This award recognizes the commitment to fostering equitable access to entrepreneurship and boosting Southern Arizona’s AgTech and Food Ecosystem through the FEAST initiative.

The success in this competition stems from a robust partnership network, with UACI as the primary partner. UACI’s 28-point roadmap for scalable science and tech startups and its profound impact on emerging enterprises in Southern Arizona are pivotal to the joint initiative. 

Other key partners include:

• Community Investment Corporation (CIC): Provides alternative financing solutions and financial literacy programs.
• Local First Arizona: Enhances the visibility and scalability of local food producers.
• Biosphere 2: Contributes agricultural science and sustainability practices.
• DRY Co-Op: Provides mentorship on sustainable farming practices.

The FEAST (Food, Entrepreneurship, Agriculture, Science, and Technology) initiative, central to the award-winning effort, is designed to foster a thriving ecosystem that supports AgTech and food entrepreneurs in Southern Arizona. 

Here’s a closer look at the core components of the program:

• Entrepreneurial Training: FEAST offers a series of workshops and seminars that provide entrepreneurs with critical skills in business planning, product development, and market entry strategies. These sessions are crafted to help participants refine their business models and accelerate their journey from concept to market.
• Mentorship Opportunities: A key feature of the initiative is its strong mentorship component. This mentorship is tailored to the unique challenges of the AgTech and food sectors, providing hands-on advice and support.
• Capital Access Workshops: Understanding the importance of funding in scaling operations, FEAST includes workshops designed to navigate the complexities of raising capital. These sessions cover a range of topics from traditional financing methods to innovative funding solutions like crowdfunding and angel investment.
• Networking and Collaboration Events: Regularly scheduled events provide vital networking opportunities that allow entrepreneurs to connect with each other, potential investors, and industry leaders. These events are designed to foster collaboration and partnership, crucial for ecosystem growth.
• FEAST Expo: The initiative will peak annually at the FEAST Expo during the TENWEST Impact Festival, presenting a platform for showcasing innovative technologies. Additionally, the FEAST Expo will provide startups with a platform to present their solutions to a broad audience that includes potential investors, industry stakeholders, and the wider community.
• Sustainable Practices Workshops: With a strong emphasis on sustainability, FEAST integrates sessions on sustainable farming and production practices, helping entrepreneurs incorporate these principles into their business models to meet the growing demand for sustainable solutions in the market.

Each component of the FEAST initiative is designed to be flexible and responsive to the evolving needs of the community, ensuring innovation and support for entrepreneurs. Through these efforts, FEAST aims to not only enhance the capabilities of individual startups but also to strengthen the entire regional ecosystem.

The $100,000 award from the SBA will directly fuel these efforts, supporting the continued creation of a vibrant, inclusive ecosystem that unites entrepreneurs, technologists, farmers, and underserved communities. The vision is to foster an environment where sustainable agricultural practices are innovated and implemented, propelling local economy and community forward.

“We are incredibly honored to receive this award, which acknowledges our commitment to nurturing the growth and success of entrepreneurs in the agricultural and food sectors. This award not only fuels our ongoing efforts but also strengthens our ability to forge impactful collaborations that drive innovation and economic prosperity in Southern Arizona,” said Liz Pocock, CEO of Startup Tucson.