The U.S. General Services Administration Certifies Immersive Concepts.
The U.S. General Services Administration Certifies Immersive Concepts as a Participant in the U.S. Small Business Administration (SBA) 8(a) Business Development Program. This allows Immersive Concepts to be certified for nine (9) years, until December 2023.
SBA (8a) is an ownership/diversity certification sponsored by the Small Business Association (SBA). The program is a nine-year business development program that provides training, counseling, marketing and technical assistance to small businesses that have been certified. The first four years of the program are the developmental stage and the last five years are the transition stage.
Also, see the MentorProtégé Program for more information on allowing starting 8(a) companies to learn the ropes from other more experienced businesses.
The goal of the program is to have 8(a) firms graduate to go on and thrive in a competitive business environment. To qualify, Firms must be 51% owned and controlled by socially and economically disadvantaged individuals under the pre-determined guidelines set forth by the SBA. Participants can receive sole-source contracts, up to a ceiling of $4 million for goods and services and $6.5 million for manufacturing. While we help 8(a) firms build their competitive and institutional know-how, we also encourage you to participate in competitive acquisitions. 8(a) firms are also able to form joint ventures to bid on contracts. This enhances the ability of 8(a) firms to perform larger prime contracts and overcome the effects of contract bundling, the combining of two or more contracts together into one large contract. The 8(a) program provides the Government Program Manager with an approved contracting vehicle to reduce the time and expense required to award a contract. This is another major advantages of the SBA 8(a) program. The 8(a) program is designed to assist Small Disadvantaged Business firms and is the only procurement technique that allows Government Program Managers the sole discretion to choose a specific contractor team for his or her task and award a sole source 8(a) contract, saving substantial work throughout the procurement cycle.
In late 2020, due to the effects of the COVID-19 pandemic on Small Businesses across the country, the SBA ruled that current 8a participants, and those who were certified at the time of the declaration of the pandemic, would have their nine (9) year term extended by one year providing additional time to grow their business. Immersive Concepts newly updated exit date for the program is December 2024.
For more information please visit the SBA’s Website: https://www.sba.gov/federal-contracting/contracting-assistance-programs/8a-business-development-program