The U.S. Small Business Administration (SBA) announced its first-ever Critical Suppliers Prize Competition on Aug. 6. The national contest aims to strengthen U.S. manufacturing and critical industry supply chains by expanding capacity at key chokepoints.
The competition will award up to $20 million in non-dilutive capital, and the SBA will issue up to six prizes, with a maximum of $6 million per award. The agency will target funding at small businesses that can demonstrate the ability to rapidly scale domestic production through measurable, lasting supply chain solutions.
SBA Administrator Kelly Loeffler tied the effort to a broader push to rebuild American manufacturing capacity.
“The Critical Suppliers Prize Competition will unleash promising solutions to supply-chain vulnerabilities, bring capacity and jobs back home, and rebuild strategic sectors like advanced materials, metals, and energy production,” Loeffler said in a statement.
Contestants must submit a business strategy with tangible deliverables tied to one of three priorities:
- Advanced metals manufacturing
- Advanced materials manufacturing
- Energy systems, energetics and components
Categories cover work ranging from precision casting and rare earth element recovery to large-format additive manufacturing, nuclear energy, and battery energy storage systems.
Eligible contestants must operate profitable, creditworthy U.S.-based small businesses in good standing on federal obligations. Applicants must show they can deploy funds within six months and produce measurable gains in production or efficiency. All senior management team members must be U.S. citizens or permanent residents at least 18 years old.
Proposals must be submitted electronically to investinnovate@sba.gov and may take the form of a company pitch deck. The submission deadline is Aug. 28 at 11:59 p.m. ET.
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