July 3, 2024
The U.S. Small Business Administration (SBA) announced the launch of a new and expanded Regional Innovation Cluster (RIC) competition. The RIC Network primarily serves to support geographically aligned industries or fields by convening “businesses, suppliers, service providers, and associated institutions.” The clusters ensure the ecosystem has access to technical assistance, institutional knowledge in the industry, capital, proper networks, procurement, and more. The goal is to cultivate more entrepreneurs and small businesses within the region’s defined industry.