San Diego-based Hera Labs, a business accelerator for women-owned companies, has won $50,000 from the U.S. Small Business Administration.
The SBA recently announced the winners of its fourth annual Growth Accelerator Fund competition. Hera Labs was among 20 winners and the only organization in California awarded a cash prize.
In exchange for the funds, heads of the accelerators are required to track and report metrics on the organizations' results, including how many jobs were created, funds raised, startups launched and sponsors obtained.
Silvia Mah, herself an entrepreneur, is CEO of Hera Labs, which is based in Sorrento Valley. The organization has won the competition twice previously.
The intent of the competition, according to the SBA, is to draw attention and funding to areas in the United States where entrepreneurial activities could use additional support.
For more information about the competition, visit sba.gov/accelerators.