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 OPEN!

The deadline to apply is July 15, 2024 @ 11:59 PM

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

Click here to download the English application.

Click here to download the Spanish application. 

  •  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. 

Accelerate is currently in a pilot phase, made possible by a partnership with Libertas Funding.