Accelerate: A WBDC Grant Program
Propeling Continued Growth for Small Businesses
The Women’s Business Development Council offers grants of up to $25,000 to qualified women-owned small businesses in Connecticut.
The Accelerate Grant Program is designed to take your business to the next level!
This grant program is open to women-owned businesses that received a WBDC Equity Match Grant, Ignite Grant or Municipal Grant at least 12 months ago and have demonstrated revenue growth as a direct impact of receiving WBDC grant funding.
A select number of applicants will be given the opportunity to participate in a Pitch Event, where an external review committee will select the grant recipients.
The grant funds cannot be used towards operating expenses (e.g. inventory, on-going marketing expenses, salaries), or for past purchases or debt repayment.
THE GRANT APPLICATION IS NOW CLOSED!
Applications are in the process of being reviewed.
This is a competitive process and WBDC may not be able to fund all applicants.
Learn about Accelerate
This grant program is open to women-owned businesses that received a WBDC Equity Match Grant, Ignite Grant or Municipal Grant at least 12 months ago and have demonstrated revenue growth as a direct impact of receiving WBDC grant funding. In addition, to be eligible, your business must:
- Be 51% or more woman-owned
- Have a record of annual sales/revenue in the last 12 months greater than $100,000 and less than $2,000,000
- Be headquartered in Connecticut
- Be registered in Connecticut
- Be owned by a Connecticut resident
- Be in good standing with the Connecticut Dept. of Revenue Services
- Have an established business checking account
- Utilize a formal, digital bookkeeping/financial system (e.g., QuickBooks, Sage, –FreshBooks, Wave Accounting)
- Be a for profit business
- Be owned by a woman at least 18 years old
The following businesses are not eligible:
- Non-profit organizations
- Current vendors or contractors of WBDC are not eligible. Former vendors are eligible to apply a year after working with WBDC.
PDF version of the FAQ: Click here
Versión de PDF de preguntas y respuestas en Español aquí
How to Prepare
There are five sections to the application:
Section A: Business Description
Section B: Impact of Equity Match Grant/Ignite Grant or Municipal Grant Funding
Section C: How you would use the $25,000 grant
Section D: Business Plan
Section E: Supporting Documents
A well-developed picture of your business that displays continued growth and long-term potential
What is the potential for job creation?
What is the return on investment?
Will the grant have a meaningful impact on the business?
Use of funds that is focused and detailed. Your project has a direct link to growth and/or profitability improvement.
Thorough and complete historical financials.
Financial projections that reflect your business seasonality, market trends and financial impact of the grant.
A select number of applicants will compete in an in-person pitch competition where an external panel of judges determines grant awardees. The pitch competition will be held in September 2024.
