May 10 Deadline For SBA Innovation, R&D Grants

WASHINGTON D.C. — The US Small Business Administration is accepting grant funding requests from the governors of US states and territories to support programs for innovative, technology-driven small businesses under SBA’s Federal and State Technology (FAST) partnership program through May 10.

FAST provides $2 million in funding (up to $100,000 per applicant) 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 Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Eligible applicants for FAST grants include state and local economic development agencies, Small Business Development Centers, and colleges and universities. Each state, through its governor, may submit one proposal.

FAST funding applicants are encouraged to show 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 commercialization of technology developed through SBIR grants.

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

Proposals will be evaluated by a committee consisting of small business owners, state level representatives, federal SBIR program managers, and representatives of the business and academic communities.

The SBA, the Department of Defense, and the National Science Foundation will jointly review the recommendations from the evaluation panel and make awards based on proposal merit. Varying levels of matching funds are required from each participating state and territory.

For more information about the SBIR and STTR programs, visit SBA’s website at www.sba.gov/sbir.