The Smart Manufacturing Accelerators for Regional Transformation (SMART) Program's 3-year initiative will grow the general and advanced manufacturing industry by supporting pandemic displaced hospitality and service industry workers, emphasizing historically underserved populations, and supporting scalable advanced manufacturing startups. To achieve these goals, the project will implement the SMART Program's four components in collaboration with partner, StartUpNV:
- Skills Accelerator, an advanced manufacturing reskilling and skills training program
- IncubateNV, an early-stage startup incubator program focused on pre-seed manufacturing and manufacturing support companies (companies with no revenue)
- SeedNV, an accelerator program focused on seed-level startup advanced manufacturing companies (companies with less than $3 million in annual revenue)
- A-Round Accelerator, a later-stage accelerator, will focus on manufacturing companies with revenue greater than $3 million.
During the grant period, outcomes of the SMART Program include support for more than 140 companies, reskilling of at least 300 people, placement of more than 500 individuals in full-time employment, and total outside investment of over $24 million into Nevada startups.