The U.S. Small Business Administration (SBA) has awarded the Research Foundation for the State University of New York (SUNY) a $100,000 grant to support programs for “innovative, technology-driven” small businesses.
The funding to the SUNY Research Foundation is among 20 such grants that the SBA awarded to economic-development agencies, business-development centers, and colleges and universities, the SBA said in a news release issued Monday.
The SBA provided the funding under its federal and state technology (FAST) partnership program.
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FAST is designed to “stimulate” economic development with outreach and technical assistance for science and technology-driven small businesses, “with a particular emphasis on socially and economically disadvantaged firms.”
The FAST program seeks to help the businesses compete in federally-funded research and development through the small-business innovation research (SBIR) and small business technology transfer (STTR) programs.
“I congratulate the SUNY Research Foundation for [its] award-winning proposal. With the $100,000 award from SBA, the Research Foundation will help New York state small businesses compete in the SBIR and STTR technology and innovation programs,” Bernard J. Paprocki, director of the SBA Syracuse district office, said in the release.
FAST provides “boots on the ground” support at local levels to help entrepreneurs compete and win SBIR/STTR awards, John Williams, SBA’s director of innovation, added.
“These programs are the largest source of non-diluted, early-stage funding in the world, attributing to the success of tens of thousands of firms since being established in 1982. Yet many entrepreneurs in cities and states across the country are unaware. The main goal of FAST is to increase that awareness through partnering organizations and level the playing field, especially in underrepresented areas,” said Williams.
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 awards; and, commercializing technology developed through SBIR awards, according to the SBA.
State and territorial governors submitted candidates for consideration, as each governor can submit only one proposal.
After panels of SBIR program managers made their evaluations, the SBA, the U.S. Department of Defense, and the National Science Foundation jointly reviewed panel recommendations and made FAST awards based upon the merits of each proposal.
The selections required “varying levels” of matching funds, 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, the SBA said.
Contact Reinhardt at ereinhardt@cnybj.com
