Accelerate: A WBDC Grant Program

The Accelerate Grant Program, offered by the Women's Business Development Council (WBDC), provides financial support of up to $25,000 to women-owned small businesses in Connecticut. This initiative aims to help businesses expand by providing funding that supports their next stage of growth. The program is specifically designed for businesses that have previously received a WBDC Equity Match Grant, Ignite Grant, or Municipal Grant at least 12 months prior and have demonstrated revenue growth as a result of that previous funding. Only a limited number of applicants will be selected to participate in a competitive Pitch Event, where an external review committee will determine the final grant recipients. The purpose of this grant is to propel continued growth for women-owned businesses by providing targeted funding that cannot be used for operational expenses, past purchases, or debt repayment. Instead, grant funds should be allocated toward initiatives that directly contribute to business expansion. This includes investments in new equipment, technology, facility improvements, or other strategic growth activities that enable businesses to scale. The funding is exclusively available to women-owned businesses that meet strict eligibility criteria. Applicants must own a business that is at least 51% woman-owned, be headquartered and registered in Connecticut, and be owned by a Connecticut resident. Eligible businesses must demonstrate annual revenue between $100,000 and $2,500,000 from the past 12 months, maintain an established business checking account, and use a formal digital bookkeeping system such as QuickBooks, Sage, FreshBooks, or Wave Accounting. Sole proprietors, non-profits, and real estate agents are not eligible to apply. Additionally, businesses must be in good standing with the Connecticut Department of Revenue Services. Applications for this round of funding close on February 18th. The selection process is highly competitive, and only a select number of applicants will be invited to pitch their business to an external review committee. The evaluation process will assess each business's growth potential, financial stability, and ability to effectively utilize the funding to further its success. As the program is currently in a pilot phase, it is made possible through a partnership with Libertas Funding. WBDC also receives funding from the U.S. Small Business Administration, the State of Connecticut, and various municipal, corporate, and private contributors. The grant program reflects WBDC’s mission to support the long-term success of women entrepreneurs and foster economic growth in the Connecticut business community. Prospective applicants should carefully review the eligibility requirements and funding restrictions before applying. As this is a competitive process, businesses are encouraged to present a compelling case for how the funding will support their expansion and long-term sustainability. More information, including detailed application questions and evaluation criteria, can be found through WBDC’s resources.