Today, as part of White House Demo Day, we’re excited to announce the 25 cities and two Native American communities who won the Small Business Administration (SBA) Startup in a Day competition launched in June. The prizes of $50,000 each will help these communities streamline the licensing, permitting, and other requirements needed to start a business in their areas, with the goal of enabling entrepreneurs to initiate all necessary steps within one business day. The SBA is also awarding a $250,000 cash prize to the city of Los Angeles to create an open-source solution that will be replicable and scalable on a broad basis.
Here are four things you should know about today’s announcement: