Ben Franklin Technology Partners Receives SBA Grant to Support R&D, Small Business Innovation

Release Date: 
Thursday, July 14, 2016
Release Number: 
16-53
Contact: 
Sonia Smith | 610-382-3085 | sonia.smith@sba.gov

WASHINGTON –Ben Franklin Technology Partners (BFTP), a Pennsylvania technology-based economic development program with regional headquarters in Philadelphia, Lehigh Valley, Pittsburgh and State College, was awarded $200,000 in U.S. Small Business Administration grant funding to support programs for innovative, technology-driven small businesses. As part of the grant, BFTP will be subcontracting with the Pennsylvania Small Business Development Centers (SBDC).  In all, $200,000 in grants were awarded to five organizations to support programs for innovative, technology-driven small businesses, and up to $125,000 in grants were awarded to 16 Federal and State Technology (FAST) Partnership Program recipients including state and local economic development agencies, business development centers, colleges and universities

“We’re excited about partnering with these organizations to help entrepreneurs around the country learn about and compete for SBIR/STTR awards,” said John Williams, SBA Director of Innovation.  “The main goal of FAST is to provide more boots on the ground in local communities through our partner organizations to increase awareness about SBIR/STTR’s early stage funding and level the playing field for entrepreneurs, especially those in underrepresented communities.”

FAST is designed to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with a particular emphasis on socially and economically disadvantaged firms, helping them to compete in federally-funded research and development through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. 

The following recipients of the FY 2016 FAST awards are:

Regular FAST State Organization up to $125K

Connecticut Innovations Incorporated

Kansas (Wichita State University)

Kentucky Science & Technology Corporation

Louisiana State University and A&M College

Minnesota High Tech Association

Mississippi (Innovate Mississippi)

New Mexico (The Regents of New Mexico State University)

New York (The Research Foundation for the State…

University of New York)

North Dakota (University of North Dakota)

Ohio Aerospace Institute

Oregon Built Environment & Sustainable Technologies Center

South Dakota (Governor's Office of Economic Development)

Texas (The University of Texas at San Antonio)

Virginia (Center for Innovative Technology)

Wisconsin (Board of Regents of the University of Wisconsin System, UWEX)

Wyoming (University of Wyoming)

 

SBTDC Up to $200K

Arkansas (University of Arkansas System)

California (Riverside Community College District)

Idaho (Boise State University)

Nebraska (Board of Regents, Univ. of NE dba Univ. of NE at Omaha)

Pennsylvania (Ben Franklin Technology Partners Corporation)

 

FAST funding awardees must demonstrate 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.

Candidates were submitted through each of their state and territorial governors, as each governor may submit only one proposal. After evaluations were made by panels of SBIR program managers, the SBA, the Department of Defense, and the National Science Foundation jointly reviewed panel recommendations and made FAST awards based upon the merits of each proposal. Varying levels of matching funds were required, based upon the state and territory location of each economic development agency. The FAST award project and budget periods are for 12 months, beginning September 30, 2016.

About FAST

The program is a competitive grants program designed to strengthen the technological competitiveness of small businesses and improve the participation of small technology firms in the innovation and commercialization of new technology. All 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam and the American Samoa’s are eligible to receive funding for providing services such as outreach and technical assistance in support of the SBIR/STTR Programs. Additional information about FAST can be found at https://www.sbir.gov/about-fast.

About SBIR/STTR

The programs represent the nation's largest source of early stage research and development funding for small businesses. The programs are administered by the SBA in collaboration with 11 federal agencies, which collectively supported more than $2.5 billion in federal research and development funding in fiscal year 2015. Companies supported by the SBIR and STTR programs often generate some of the most important breakthroughs each year in the U.S. Additional information about each program can be found at www.sbir.gov.

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