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

Release Date: 
Thursday, July 25, 2013
Release Number: 
13-45
Contact: 
Dennis E. Byrne (202) 205-6567

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:

http://www.sbir.gov/about/about-fast-partnership-program

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

http://www.sba.gov/about-sba-services/7050