The U.S. Small Business Administration (SBA) announced it has awarded the Research Foundation of the State University of New York (SUNY) a grant worth $95,000.
The funding is among grants awarded to organizations in 20 states under the SBA’s Federal and State Technology (FAST) program.
The recipients included state and local economic-development agencies, business-development centers, colleges, and universities.
The governors in all 50 U.S. states and territories submitted nominations for the SBA to consider, the agency said.
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, beginning Oct. 1, according to the SBA.
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 to compete in the SBA’s SBIR and STTR programs, the agency said.
Grant recipients 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.
A panel of SBIR program managers evaluated the proposals.
The SBA, the U.S. Department of Defense, and the National Science Foundation jointly reviewed the panel’s recommendations and awarded the grant based on proposal merit.
The grant requires varying levels of matching funds from each participating state and territory, the SBA said.
Contact Reinhardt at ereinhardt@cnybj.com
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