Public Resources for
Southern California Entrepreneurs
Table of Contents:
Debt Financing
California Capital Access Program (CalCAP) for Small Business
Deadline: Open application
Funding Opportunity: CalCAP is a government backed program which encourages banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing.
Small Business Loan Guarantee Program
Deadline: Open application
Funding Opportunity: This program provides access to capital that may not have been available to growing businesses without this program. Eligible uses of the Small Business Loan Guarantee program financing proceeds include start-up costs, construction, inventory, working capital, business expansion, agriculture, lines of credit and more.
Requirements: Eligible applicants include small businesses with 1-750 employees. Credit qualifications are based on lender criteria.
Tax Credits
California Competes Tax Credit
Funding Opportunity: The California Competes Tax Credit (CCTC) is a tax incentive designed to benefit businesses looking to establish or expand their operations in California. This program makes over $180 million in tax credits available to businesses of all types, sizes, and locations. To secure these credits, companies must participate in one of the three annual application periods. The applications are assessed based on fourteen distinct evaluation criteria, such as the number of new full-time jobs they will generate, the level of investment they intend to make, and their strategic significance to the state or local area.
Deadline: For fiscal year 2023-2024, GO-Biz will accept applications for the California Competes Tax Credit during the following periods:
July 24, 2023 – August 14, 2023
January 2, 2024 – January 22, 2024
March 4, 2024 – March 18, 2024
Requirements:
Companies must be located in California or have proof of relocating to California.
GO-Biz is required by statute to consider the extent to which the credit will influence the business’s ability, willingness, or both, to create new, full-time jobs in this state that might not otherwise be created in the state by the applicant or any other California business.
Industry Specific: No
Funding Opportunity: The Employment Training Panel (ETP) was established in 1982 by the California State Legislature and is funded by a special payroll tax contributed by California employers. ETP provides funding to assist businesses in upgrading their workers' skills, aiming to create good-paying, long-term jobs. It's important to note that ETP is a funding agency, not a training agency. Businesses are responsible for determining their training needs and delivery methods, with ETP staff available to help with funding applications and program participation.
Deadline: Open application
Requirements:
Single Employers subject to the Unemployment Insurance tax and having a California Employer Account Number (CEAN) with a prefix of 699 or lower.
Groups of Employers, including Chambers of Commerce, Joint Apprenticeship Training Committees, Trade Associations or Economic Development Corporations.
Training Agencies include the following educational institutions:
Community College or Community College District
University or University foundations
Adult School
Regional Occupational Program
Private training agency with at least a two year history of providing training and placement services to the public, and appropriate certification
Workforce Development Boards (WDB) (formerly Workforce Investment Boards) with the approval of appropriate local elected officials in the local workforce investment areas.
For additional requirements, see here.
Industry Specific: Priority industries include:
Agriculture, allied health, biotechnology, construction, green/clean technology, goods movement and transportation logistics, information technology systems, manufacturing and food production, multi-media and entertainment, and technical services
Incubators & Accelerators
Funding Opportunity: The Basement at UC San Diego is a co-work and incubation space for UC San Diego students with a mission to stimulate, encourage and serve the entrepreneurial spirit. The Basement Program offers three program tracks that offer varying degrees of access to space, resources, mentorship and possible funding in awards ranging from $500 to $2,000.
Application Deadline: Depends on the specific track. See here for details.
Requirements: Applicant(s) must be a current UC San Diego undergraduate student and in good academic standing.
Students applying must have a startup business/product or social innovation idea.
Industry Specific: No
Funding Opportunity: CyberHive is a unique, innovative business shared workspace and incubator program that delivers business and technical support to early stage companies providing cybersecurity and high tech related products and services. CyberHive members receive business support services from CyberHive’s experienced and highly skilled services team, robust and redundant data connectivity, shared reception area and conference rooms. Members are mentored as they fine tune their business model, use cases and go to market strategies.
Application Deadline: Open application
Industry Specific: Life science
Funding Opportunity: EvoNexus is a technology incubator that offers access to up to $250,000 in potential seed capital, support and help in preparing for fundraising, Demo Day opportunities, mentorship, intellectual property support, workspace resources and facilities, and access to a network of resources and investors.
Application Deadline: Open application
Requirements:
Post idea-stage
Solving a big problem in a large market with a unique solution
Innovative technology and/or product or service with a clear competitive advantage
At least 2 full-time committed team members
Teams must have a San Diego presence
Typically, pre-seed to pre-series A legally incorporated company with at least 6-month runway
Industry Specific: Technology
Qualcomm Institute Innovation Space
Funding Opportunity: The Qualcomm Institute Innovation Space is a collaborative environment for startups and industry partners to accelerate technology development and commercialization. It has been instrumental in launching numerous emerging companies and nonprofits across various fields. Tenants receive access to QI services, collaboration opportunities with faculty, researchers, and students, and do not give up equity to QI.
Application Deadline: Open application
Requirements:
Companies must be focused on developing innovative technology with the potential for commercialization.
Industry specific: Technology startups in various industries: consumer products, life sciences, software, AI/machine learning, edtech, non-profits, social entrepreneurs, and service-oriented organizations
Funding Opportunity: Startup San Diego offers a no-cost, no-equity virtual incubator program in collaboration with Techstars Anywhere, designed to nurture and grow ten promising startups. The program, which includes expert training, mentorship, and a supportive community, will culminate in a Demo showcase at the end of October. The incubator team is comprised of industry experts from companies like Silicon Valley Bank, Pillsbury, GoFundMe, PetDesk, and more, with Startup San Diego's Entrepreneurs-in-Residence serving as "Mission Specialists" to guide and support the participating startups throughout their incubation journey. The goal is to facilitate connections, exposure, and opportunities with ecosystem partners, support organizations, accelerators, and potential investors.
Application Deadline: Check here for Incubator Open Sessions happening Spring 2024.
Industry specific: No
Additional Resources
California Center for Applied Competitive Technologies
The California Centers for Applied Competitive Technologies (CACT) is a network of centers throughout California dedicated to bolstering the competitiveness and productivity of small and medium-sized manufacturers. CACT offers technical assistance, customized workforce training, lean manufacturing guidance, technology adoption support, compliance and standards advice, and occasionally engages in research and development projects. Their mission is to help manufacturers stay competitive in the modern market, ensuring they remain agile and adaptive in the face of evolving technologies and industry standards, ultimately fostering the growth and sustainability of California's manufacturing sector.
The California Innovation Fund is a new type of shared carry private/public Venture Capital Fund that will provide 50% of the GP carry to the University of California so the success of our startups benefits public education. The fund looks for early-stage startups from all kinds of industries seeking to raise late seed or Series A rounds of finance. They focus on UC affiliated startups that emerged from the UC ecosystem, have been founded by UC alumni, or are built upon UC technology. They support entrepreneurs who are solving significant, urgent problems that will create a positive future and better the public good.