Unlocking Potential: $450K Boost for Sacramento’s Start-Up Innovators!
Exciting news for Sacramento’s entrepreneurial landscape! Last Tuesday, the Sacramento City Council greenlit funding for six groundbreaking projects designed to supercharge start-ups and entrepreneurs right here in our vibrant city.
With the launch of the “Innovation Incubator and Accelerator Grants”, the City is setting the stage for early-stage businesses to thrive. These grants aim to ignite innovation, bolster economic development, and empower aspiring business owners to either kickstart their ventures or elevate their existing ones.
“Investing in these programs isn’t just about supporting startups; it’s about paving the way for Sacramento’s future,” asserted Denise Malvetti, Deputy Director of the Office of Innovation and Economic Development. “These initiatives will uplift a diverse array of entrepreneurs and fuel innovative ideas.”
After reviewing a competitive pool of 70 applicants, six outstanding organizations were chosen. Their impactful programs are set to roll out in the first quarter of 2025, with goals that include launching new businesses, boosting revenue, creating jobs, and enhancing access to Sacramento’s dynamic innovation ecosystem.
Here’s what these game-changing projects look like:
- Alchemist Kitchen CDC ($88,100): This initiative supports food entrepreneurs from underserved communities through invaluable training, mentorship, and access to essential commercial kitchens.
- AMW Design ($57,906): Empowering BIPOC entrepreneurs by providing critical skills in technology, design, and engineering to elevate their businesses.
- Atrium 916 ($50,000): This program nurtures sustainable micro-manufacturing and eco-friendly innovation via mentorship and hands-on workshops.
- Carlsen Center at Sacramento State ($99,560): The Traction Lab Venture Accelerator is set to help startups refine their business models, achieve product-market fit, and gear up for pre-seed funding.
- CleanStart ($100,000): The Deep Dive Accelerator focuses on assisting clean-tech startups in fine-tuning their business strategies and scaling for success.
- StartupSac ($57,304): Their FastTrac program offers comprehensive business training and mentorship to aspiring entrepreneurs from underrepresented communities.
“Our organization stands at the crossroads of arts, environment, and economic development,” stated Shira Lane, CEO of Atrium 916. “We empower local creatives to produce sustainable products while minimizing waste. We are immensely grateful for the City of Sacramento’s support of the arts and our incubator and accelerator initiatives.”
These approved projects align seamlessly with the City’s “ScaleUp” plan, which champions inclusive economic development and aims to create pathways to economic mobility for all Sacramento residents.
Fueling the Innovation Engine
These incubator and accelerator grants are powered by the City’s Innovation Growth Fund, established in 2016 by the City Council to bolster innovation initiatives, entrepreneurs, and startup businesses. Previous rounds of funding have supported a myriad of projects, from incubators and accelerators to co-working spaces, training programs, and community events—all designed to enhance Sacramento’s innovation ecosystem.
Last year’s awardees included standout initiatives such as the Startup World Cup business pitch competition, which attracted 350 attendees and featured a winner who ranked 10th in a global arena. Additionally, the Startup Challenge facilitated business launches over just one weekend, leading to the creation of a homebuyer co-pilot app available on the App Store. The City is also currently funding free online courses in generative artificial intelligence for up to 1,000 Sacramento residents, bridging the digital divide and advancing tech skills for all.
