SBA Awards Grants to 20 Universities and Organizations To Support R&D, Small Business Innovation

WASHINGTON – Supporting programs for innovative, technology-driven small businesses under SBA’s Federal and State Technology (FAST) partnership program, the U.S. Small Business Administration has granted 20 awards, of $95,000 per award, for FY 2013 to 20 state and local economic development agencies, business development centers, and colleges and universities. Candidates were submitted by the governors of all 50 U.S. states and territories.

The FAST Program is designed to stimulate economic development among small, high technology businesses through federally-funded innovation and research and development programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR).  The project and budget periods are for 12 months, starting October 1, 2013.

“The FAST program is an important catalyst for helping America’s cutting-edge entrepreneurs continue to drive innovation and create good jobs,” said Karen G. Mills, SBA Administrator. “The partnerships developed through these programs will play a critical role in helping high-growth potential small firms take those next steps to help drive our local economies.”

The recipients include:

–          Arizona           Arizona Commerce Authority

–          Arkansas         Board of Trustees of the University of Arkansas

–          Connecticut     Connecticut Innovations, Inc.

–          Delaware         University of Delaware

–          Louisiana         Louisiana State University and A&M College

–          Michigan         BBC Entrepreneurial Training & Consulting LLC

–          Mississippi       Innovate Mississippi

–          Missouri          The Curators of the University of Missouri

–          Montana          Montana Department of Commerce

–          New Mexico   Technology Ventures Corporation

–          New York       The Research Foundation for the State University of New York

–          North Dakota  University of North Dakota

–          Ohio                Ohio Aerospace Institute

–          Oregon                        Oregon Built Environment & Sustainable Technologies Center

–          Pennsylvania   Ben Franklin Technology Partners Corporation

–          Puerto Rico     Inter American University of Puerto Rico SBTDC

–          South Dakota Governor’s Office of Economic Development

–          Tennessee        Tennessee Technology Development Corp. dba Launch Tennessee

–          Vermont          Vermont State Colleges

–          Wisconsin        Board of Regents of University of Wisconsin System

FAST provides up to $95,000 per award to pay for outreach and technical assistance to science and technology-driven small businesses.  The program places particular emphasis on helping socially and economically disadvantaged firms compete in the SBA’s SBIR and STTR programs.

FAST funding awardees demonstrated how they will help support areas such as:

  • small business research and development assistance,
  • technology transfer from universities to small businesses,
  • technological diffusion of innovation benefiting small businesses,
  • proposal development and mentoring for small businesses applying for SBIR grants; and,
  • commercializing technology developed through SBIR grants.

Proposals were evaluated by a panel of SBIR program managers. The SBA, the Department of Defense and the National Science Foundation jointly reviewed the panel’s recommendations and made awards based on proposal merit. The grant requires varying levels of matching funds from each participating state and territory.

Companies supported by the SBIR and STTR programs often generate some of the most important breakthroughs each year in the U.S.   For example, about 25 percent of R&D Magazine’s Top 100 Innovations come from SBIR-funded small businesses.

More details about FAST grants are here:

For more information about the SBIR and STTR programs, visit SBA’s website at:

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