The U.S. Small Business Administration (SBA) announced Dirigo Labs as a Stage One winner for the 2024 Growth Accelerator Fund Competition (GAFC). Dirigo Labs, based in Waterville, will receive a $50,000 cash prize for its impactful and inclusive approach to nurturing a collaborative national innovation ecosystem to advance small business research and development from ideas to the market, according to a news release.

Dirigo Labs will launch an economic initiative to support emerging biotech and sustainability sectors, catalyzing rural revitalization and the post-mill and -manufacturing economy. The group aims to build a resilient technology ecosystem leading to targeted growth in mentorship, investments, startups, entrepreneurs and jobs.

“This prestigious recognition validates the tireless dedication of our exceptional team here at Dirigo Labs; through unwavering commitment and a culture of collaboration and innovation, we’ve continuously pushed boundaries in our mission to support emerging biotech and sustainability sectors,” said Dirigo Labs Program Manager Emalee Hall. The $50,000 prize money will allow us to launch our economic initiative and transform downtown Waterville into a bustling innovation hub. We’re not only impacting our region but also extending our reach far beyond, shaping a future defined by progress and possibility,” Hall said in the release.

Winners of Stage One were selected through a multi-tier review panel process with experts in entrepreneurship, business, innovation and strategic planning both inside and out of the federal government. Stage Two offers an additional $50,000 to $150,000 in cash prizes for growth accelerator partnerships. To learn more about Stage Two opportunities and for Growth Accelerator Fund Competition Guidelines, visit www.americasseedfund.us/accelerators.