Last Tuesday, the Sacramento City Council authorized grants for six projects to support Sacramento-based groups that support entrepreneurs and start-up companies.
The goal of the “Innovation Incubator and Accelerator Grants” is to assist Sacramento’s early-stage companies. The objective is to support economic development, encourage innovation, and assist participants in launching or expanding their own enterprises.
Denise Malvetti, deputy director of the Office of Innovation and Economic Development, stated that the City’s contributions are an investment in Sacramento’s future as well as in helping entrepreneurs. “These initiatives will encourage innovation and empower a diverse group of entrepreneurs.”
Out of 70 applicants, six groups focused on innovation and entrepreneurship were chosen, and their programs are expected to start in the first quarter of 2025. The chosen initiatives seek to produce quantifiable results, including expanded access to Sacramento’s innovation environment, revenue growth, job creation, and business launches.
The following are the honorees and their projects: • Alchemist Kitchen CDC ($88,100): Provides access to professional kitchens, mentorship, and training to food entrepreneurs from underprivileged communities. • AMW Design ($57,906): provides engineering, design, and technology skills to BIPOC business owners to help them run their companies. • Atrium 916 ($50,000): encourages environmentally friendly innovation and sustainable micro-manufacturing by offering training and coaching. • Carlsen Center at Sacramento State ($99,560): Startups can improve their business models, find product-market fit, and get ready for pre-seed investment with the support of the Traction Lab Venture Accelerator. • CleanStart ($100,000): Clean-tech businesses can improve their business models and scale for expansion with the aid of the Deep Dive Accelerator. • StartupSac ($57,304): Aspiring business owners from under-represented groups can receive thorough business training and mentorship through the FastTrac program.
Shira Lane, CEO of Atrium 916, stated, “Our organization is at the intersection of arts, the environment, and economic development.” “We support local artists in creating waste-free and sustainable items. We appreciate the City of Sacramento’s support of the arts and our incubator and accelerator programs.
The authorized projects are in line with the City’s “ScaleUp” plan, an action agenda for inclusive economic development that places a strong emphasis on giving all citizens access to economic mobility.
