The mystartupXX Program Receives $50,000 Grant from the U.S. Small Business Administration
The mystartupXX program, a collaboration of the Rady School of Management at UC San Diego and the von Liebig Entrepreneurism Center at the UC San Diego Jacobs School of Engineering received a $50,000 grant from the U.S. Small Business Association (SBA). Maria Contreras-Sweet, SBA Administrator and Obama Administration Cabinet member, announced the grant award at a press conference at the Rady School of Management on September 4, 2014.
"There is so much innovation and job creation in San Diego and I believe the economic leadership at UC San Diego is extraordinary," said Administrator Maria Contreras-Sweet. "I am pleased to announce the first winner of the grant based in California, mystartupXX. The mystartupXX program is doing something special and is a great contribution to America and to women."
The mystartupXX program is one of 50 winners of the Growth Accelerator Fund competition sponsored by the SBA. The competition, in its first year, was extremely competitive and attracted 800 applications from across the country. Finalists were reviewed by a panel of experts in entrepreneurship, investing and business plans from both within the government and the private sector. The competition was created to draw attention and invest in parts of the country where there are gaps in the entrepreneurial ecosystem.
The mystartupXX program's mission is to nurture the next generation of female founder and female-led technology startups through mentorship, education and funding.
"We are extremely pleased and encouraged by this recognition from the U.S. Small Business Administration," said Rosibel Ochoa, senior executive director of Entrepreneurism and Leadership Programs at the UC San Diego Jacobs School of Engineering and mystartupXX program co-director. "This award will allow us to scale our efforts to support female technology entrepreneurship not only in San Diego but also to other regions in the country and abroad."
"The generous grant from the SBA, will enable mystartupXX to provide a new group of female entrepreneurs with the instruction, funding and mentorship they need to succeed," said Lada Rasochova, executive director of the California Institute for Innovation and Development at the Rady School of Management and mystartupXX program co-director.
Since its founding in 2011, the mystartupXX program has graduated two cohorts of female entrepreneurs, with six startups created, more than $2.6 million raised by startups, over 130 jobs created, and several products on the market. Two of the mystartupXX program's startups were admitted to prestigious accelerators and one startup won the Quick Pitch competition sponsored by the Tech Coast Angels, the largest angel investor network in the U.S.
For more information about the mystartupXX program, go to: http://rady.ucsd.edu/ciid/mystartupxx/