SBA awards 22 states with grants to help tech companies
The U.S. Small Business Administration today awarded FAST grants totaling $2 million to 22 state and local economic development agencies, business development centers, colleges and universities. These grants will support programs for innovative, technology-driven small businesses under SBA’s Federal and State Technology partnership program.
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 and Small Business Technology Transfer. The project and budget periods are for a 12-month period.
“The FAST program is an important tool of the SBIR/STTR program. The mission of the SBIR program is to support scientific excellence and technological innovation by investing federal research funds in small businesses. STTR focuses on partnerships between small businesses and America’s premier universities and nonprofit research institutions. It helps ensure that the world’s greatest academics and inventors have the resources they need to transform their ideas from the lab to the marketplace,” SBA Administrator Maria Contreras-Sweet said.
“SBIR and STTR are a win-win. Federal agencies are able to meet their R&D needs. Small businesses get the support they need to turn innovative new ideas into job-creating new businesses and these programs strengthen America’s competitiveness and global economic leadership.”
This year’s recipients include:
Alabama
Economic Development Partnership of Alabama Foundation, Inc.
Alaska
University of Alaska Anchorage
Arizona
Commerce Authority, Arizona
Arkansas
Board of Trustees of the University of Arkansas
California
The Regents of the University of California
Connecticut
Connecticut Innovations Incorporated
DC
DC Department of Small and Local Business Development
Idaho
Boise State University
Illinois
Board of Trustees of the University of Illinois
Kansas
Wichita State University
Louisiana
Louisiana State University and A&M College
Minnesota
Metropolitan Economic Development Association
Mississippi
Innovate Mississippi
Nebraska
Board of Regents, Univ. of NE dba Univ. of NE at Omaha
New York
The Research Foundation for the State University of New York
North Dakota
University of North Dakota
Oregon
Oregon Built Environment & Sustainable Technologies Center
Puerto Rico
Puerto Rico Trade and Export Company (PR Trade)
Tennessee
Tennessee Technology Development Corp d/b/a Launch Tennessee
Virginia
Center for Innovative Technology
Wisconsin
Board of Regents of the UW-System
Wyoming
University of Wyoming
FAST provides over $90,000 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.
