The Hartford Small Business Accelerator Grant Program - New & Expanding Sites
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In partnership with The Hartford, Main Street America is offering a series of grants to fund small business accelerator projects in select Main Street districts.
The Small Business Accelerator Grant Program is built on The Hartford and Main Street America’s mutual belief in the importance of strong local economies and the vital role small businesses play in our country. We respect and appreciate the passion they bring to serve their communities. We also recognize the challenges and growth barriers they face.
The launch of our joint Small Business Accelerator program aims to make the lives of small businesses easier by providing them with place-based resources, mentorship, and funding to help cultivate entrepreneurial success. This program is a testament to the vision we share for Main Streets and helps us create ecosystems where small businesses can flourish.
This grant program is meant to leverage real estate as a mobilizer for small business scaling and success through the establishment and/or operation of a small business accelerator project, such as a shared pop-up space, business incubator, or related real estate project or activity.
The grant opportunities are available for a select group of Main Street communities based on a demonstrated commitment to entrepreneurial ecosystem work and readiness to launch a project of this scale. See the list of eligible communities here.
About the Grant Program | How to Apply
From Wednesday, January 8, 2025, at 12 p.m. CT to Tuesday, February 18, 2025, at 12 p.m. CT, select eligible communities can apply for the following grants opportunities:
- New & Expanding Grants - [See the application form below] Three (3) grants of $100,000 each to eligible communities to launch, establish, and operate a new physical small business accelerator site, pop-up shop space, or incubator site; OR to physically expand and operate an existing site. The grant is to establish and operate the accelerator or related project or activity as follows:
$75,000 for project execution and capital (construction);
$25,000 for program capacity and project management
- Operational Support Grants - Three (3) grants of $25,000 each to existing and operating physical accelerator sites towards enhancing their ongoing services and reach. This grant is to expand or support an existing accelerator or related project or activity as follows:
$25,000 for program capacity and project management.
This grant is not intended for projects previously funded by this grant program.
- Small Business Accelerator Enhancement Grants - Upon submitting a final report on the use of their Grant, The Hartford Small Business Accelerator Grantees with open and operating physical accelerator sites may apply for an additional $50,000 grant. Those Grantees may apply for one of three (3) additional Small Business Accelerator Enhancement Grants of $50,000 each to subgrant directly to the entrepreneurs and small business owner participants or graduates of their accelerator site or program funded by The Hartford.
- Sustaining Grants - Only for the prior year’s grant recipients: Three (3) Sustaining Grants to Year 1 Grantees of $25,000 each towards ensuring their project’s long-term success. Award will be made based on their final report and projected plans for sustainability. The grant funds are to operate their accelerator or related project activity as follows:
$25,000 for program capacity and project management.
Year 1 Grantees will receive an additional email notification regarding how to complete their application for the Sustaining Grants.
Informational Webinar
Click here slides from the informational webinar.
Click here to watch the video.
Why is this work important?
Entrepreneurship is a critical pathway to economic opportunity and inclusive wealth-building. However, access to affordable retail space and limited brand awareness are barriers to small business growth, especially for entrepreneurs of color. The Small Business Accelerator Grant Program will help Main Street districts provide important interim space for fostering entrepreneurship and nurturing innovative business ideas; where business owners can showcase their products and services and receive support and mentorship, while building stronger, more resilient local economies.
What is a small business accelerator project?
A small business accelerator project is one that fuels community and economic development through jumpstarting small businesses and/or entrepreneurs toward successful and sustainable trajectories.
Examples include:
- Pop-up shops
- Co-working spaces
- Entrepreneurial coaching, training, and education
- Shipping container shops
- Shared commercial kitchens
- Office space designed specifically for start-ups or new entrepreneurs
- Business incubators
- Educational centers or institutes for entrepreneurship
Evaluation Criteria:
- Feasibility
- Need
- Impact
- Leverage
- Sustainability
- Feasibility - Ability to fund, manage development, and launch the accelerator project within the program timeframe
- Need - Project’s alignment with proof of demand from area residents and local small business readiness; the accelerator and related programming serve a community need
- Impact - Real estate can be leveraged as a mobilizer for small business scaling and ability to reach and grow businesses; overall economic impact for the Main Street corridor
- Leverage - Ability to leverage resources (partners, funding, promotions) to boost the accelerator project and businesses’ visibility and success
- Sustainability - Demonstrates a plan for the future of the accelerator, including a long-term operations and funding strategy, existing or potential future partnerships and a small business pipeline
Program Timeline:
- Application Opens - Wednesday, January 8, 2025, at 12 p.m. (noon) CT
- Program Informational Webinar - Wednesday, January 22, 2025, at 10:00 a.m. CT
- Application Closes - Tuesday, February 18, 2025, at 12 p.m. (noon) CT
- Grantees Announced - May 2025
The Hartford’s Commitment to Small Businesses
The Hartford insures more than 1.5 million small businesses across the country, and we understand just how critical they are to the success of their communities. We are continuously inspired by their incredible dedication and creativity, and we take pride in supporting them in ways that go above and beyond the insurance policy.
Since small businesses make up more than 99.9% of all US businesses, they are truly the heart of our economy. Over the last 25 years, small businesses have added almost 13 million jobs. At The Hartford, we believe it is our responsibility to ensure that number keeps growing by putting the customer at the center of everything we do.
Questions?
Review the program Terms & Conditions here. Contact smallbizaccelerator@mainstreet.org