Startup Tucson was awarded a $1.44 million, five-year contract from the U.S. Small Business Administration’s ScaleUp America program. Startup Tucson was one of only seven successful applicants nationwide out of over 60 proposals. Tucson is the only community west of the Mississippi River to receiveScaleUp America funding.
“Tucson is on the verge of an economic transformation and the ScaleUp America program is injecting over $1 million into our community at a critical time,” said Justin Williams, CEO and founder of Startup Tucson. “According to the Kauffman Foundation, over the last 30 years, 100% of all net-new jobs nationally came from high-potential startups committed to rapid growth.
Startup Tucson will use this award, combined with the investments made this summer by the City of Tucson, the Diane and Bruce Halle Foundation, and Holualoa Properties, to accelerate the growth of our region’s high-potential early stage companies.”
Startup Tucson’s ScaleUp America contract will support the Thryve Next growth accelerator program focusing on high-potential, growth-oriented companies with annual revenues between $150,000 and $500,000, approximately two years old and in the early growth business cycle. Thryve Next, powered by Startup Tucson, is a national model for entrepreneurial cultivation.
“The Desert Angels invests significantly in high-growth companies like those supported by Startup Tucson,” said Dan Janes, Co-Founder of 42Six Solutions and a member of the local Desert Angels investor network. “These high-growth companies bring in new dollars and grow new jobs in the regional economy.”
With a focus on local impact, inclusion and innovation, contracts awarded by ScaleUp America provide intensive entrepreneurship education and a growth-support program to achieve the following goals: increase business scalability, create local jobs, and positively impact the local economy. The contract also supports undeserved and underrepresented businesses.
As the leading resource for early stage startups and growing businesses in Southern Arizona, Startup Tucson continues to transform the economy through entrepreneurship and innovation.
Small businesses interested in Thryve Next can email Thryve@startuptucson.com or visit www.startuptucson.com/thryve.
About Startup Tucson
Startup Tucson is a 501 (c) (3) non-profit committed to transforming Southern Arizona’s economy through innovation and entrepreneurship. Founded in 2011, Startup Tucson delivers programs to support the launch of and growth of high-impact businesses. Investors in Startup Tucson include the City of Tucson, the Diane and Bruce Halle Foundation, Holualoa Properties, and the Desert Angels. Visit www.startuptucson.com for more information.