FOR IMMEDIATE RELEASE
September 21, 2015
CHARLOTTE – The U.S. Small Business Administration presented QC Fin Tech and Rev Tech labs with a check for $50,000 Monday as part of the SBA’s Growth Accelerators competition.
“Queen City FinTech and RevTechLabs are two of our shining stars in the entrepreneurial community and I’m so pleased to know that our friends at the SBA agree,” said Mayor Dan Clodfelter. “This award is a distinguished national recognition for innovation in the incubator space. QC Fin Tech and Rev Tech Labs are among only 11 programs in the country to receive this honor, and the only ventures in North Carolina to win twice. That’s no small feat.”
The purpose of the competition is to draw attention and funding to parts of the country where there are gaps in the entrepreneurial ecosystem. While there are entrepreneurial activities occurring nationwide, some are better supported by private sector ecosystems than others. SBA has been working to create connective tissue amongst the nearly 130 winning entrepreneurial ecosystems now part of the Growth Accelerator Fund.
Applications were judged by more than 40 experts with entrepreneurial, investment, startup, economic development, capital formation and academic backgrounds from both the public and private sector. The first panel of judges reviewed over 400 applications and presentations and established a pool of 180 highly qualified finalists. The second panel evaluated the finalists’ presentations and pitch videos and selected the 80 winners.
In accepting these funds, QC Fin Tech and Rev Tech Labs will report metrics such as jobs created, funds raised, startups launched and corporate sponsors obtained. This will allow the SBA to continue building upon its database of accelerators and their impact, and to develop long-term relationships with the startups and constituents in these innovative and entrepreneurial communities.