The U.S. Small Business Administration has announced its first-ever Critical Suppliers Prize Competition, a national contest to strengthen U.S. manufacturing and critical industry supply chains by expanding capacity at key chokepoints. 

The competition will award up to $20 million in non‑dilutive capital, including as many as six prizes with a maximum of $6 million each, to small businesses that demonstrate the capacity to rapidly scale domestic production through measurable, enduring supply chain solutions.

“The Critical Suppliers Prize Competition will unleash promising solutions to supply‑chain vulnerabilities, bring capacity and jobs back home, and rebuild strategic sectors like advanced materials, metals, and energy production. By backing innovators to deliver at scale, the SBA is targeting the critical industries that will anchor America’s economic strength and national security for decades to come,” said Administrator Kelly Loeffler in part in a press release.  

 Regional Administrator Tyler Teresa, who oversees SBA operations in Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee shared in a press release:  

“I encourage manufacturers and critical suppliers across the Southeast Region to submit proposals for the Critical Suppliers Prize Competition. 

Our region is home to world class innovators in advanced materials, metals and energy systems, and there is nothing more important than strengthening our supply chains by ensuring these products are Made in America. This competition offers the capital and support small manufacturers need to scale up quickly, create good‑paying jobs and deliver the resilient, domestic production capacity our economy and national security depend on.” 

Contestants must have an aligned business strategy that provides tangible deliverables on one of the following critical industry supply chain priorities:

• Advanced Metals Manufacturing, including rapid tooling, precision casting and forging, heat treated components, strategic and critical minerals, and rare earth element recovery and magnet production.
• Advanced Materials Manufacturing, including large format additive manufacturing and materials transformation.
• Energy Systems, Energetics and Components, including nuclear energy, battery energy storage systems and standardization efforts.

Eligible competition contestants must meet the following criteria:

• Private entities or teams that meet SBA’s definition of a small business.
• Individuals submitting responses to this opportunity, including individuals representing organizations partnering with the small business applicant, must be U.S. citizens or lawful permanent residents who are at least 18 years of age at the time of their submission of an entry.
• An individual cannot belong to more than one entry in this competition.
• Contestants must be current and in good standing on any federal obligations.
• Contestants must be in good standing in the jurisdiction of their state of organization.
• Contestants must be an entity organized in and maintaining a primary place of business in the U.S. and/or its territories.
• Contestants must be profitable and demonstrate creditworthiness.
• Contestants must demonstrate the ability to deploy funds rapidly (within six months) and demonstrate the ability to achieve measurable increases in production or ability to implement a solution to support efficiencies in production to deliver near-term supply chain impact.
• All members of the senior management team of a contestant must be U.S. citizens or permanent residents of the U.S. and over the age of 18. 

The SBA has committed to rebuilding American supply chains and domestic manufacturing through a series of targeted initiatives. This year, the agency waived loan fees for manufacturing NAICS codes, established the first-ever loan program dedicated to American manufacturers, and modernized the Small Business Investment Company (SBIC) program so more private capital flows into critical, supply‑chain‑sensitive industries. The agency also announced a new 90% Made in America Loan Guarantee for small manufacturers and continues to promote existing programs such as the asset-based 7(a) Working Capital Pilot (WCP) Program. Through its ongoing Supplier Matchmaking Expo series and its Make Onshoring Great Again Portal, the agency has also played an active role in helping large companies source small suppliers to onshore supply chains across industries.

Contestants must submit proposals electronically to investinnovate@sba.gov. Proposals may be in the form of a company pitch deck. More information can be found at https://www.sba.gov/about-sba/priorities/sba-initiatives/critical-suppliers-prize-competition/. The deadline for submission is Aug. 21 by 11:59 p.m. ET.