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What's Hot in Small Business – Chris Crum

What's Hot in Small Business – Chris Crum
Chris Crum writes for Small Business Resources about what's new for small business. Chris was a featured writer with the iEntry Network of B2B Publications where hundreds of publications linked to his articles including the Wall Street Journal, USA Today, LA Times and the New York Times.

SBA Gives Grants to 24 Organizations to Support Small Business Innovation, R&D Commercialization

SBA Gives Grants to 24 Organizations to Support Small Business Innovation, R&D Commercialization Small Business Administration (SBA)

The United States Small Business Administration (SBA) recently announced that it has granted 24 awards of up to $125,000 per recipient for the upcoming budget period. The grants were given as part of the Administration's Federal and State Technology (FAST) partnership program, which aims to help entrepreneurs who are considered underrepresented in SBA's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The grants are specifically geared toward women-owned, rural-based, and socially/economically disadvantaged companies.

The FAST program provides small research and development-focused companies with specialized training, as well as outreach, mentoring, and technical assistance. It also provides single-year funding to businesses to help them execute state or regional programs that support potential SBIR applicants and awardees. The upcoming budget period begins on September 30, 2019, and lasts through September 29, 2020.

SBA’s Acting Administrator, Christopher Pilkerton, commented, "FAST partners support an important role in attempting to fill various gaps that R&D-focused small businesses may have to help them win SBIR/STTR awards. They focus on the needs of next-generation high-tech firms and support them through the entire cycle from ideation to commercialization. SBIR funding is one way to do that. Additionally, a number of these awards are going to partners that are located in Opportunity Zones where job creation and investments are moving forward to revitalize communities.”

Chris Pilkerton via SBA.gov

Chris Pilkerton via SBA.gov

The grant recipients are located in twenty-four states, and include state and local economic development organizations, as well as small business technology development centers, women's business centers, procurement technical assistance centers, incubators, accelerators, colleges, and universities. According to the SBA, all of the organizations will provide support to small businesses developing and commercializing high risk technologies.

Non-university recipients include: The Colorado Office of Economic Development and International Trade, Connecticut Innovations, Inc., Hawaii Technology Development Corporation (HTDC), Northeast Indiana Innovation Center, Maryland Technology Development Corporation (TEDCO), Minnesota High Tech Association, Innovate Mississippi, First Flight Venture Center, Inc., VertueLab, Launch Tennessee, Center for Innovative Technology (CIT), and TechConnect West Virginia.

School recipients include: University of Arkansas at Little Rock, Wichita State University, Louisiana Business & Technology Center/LSU, The Curators of the University of Missouri, Office of Sponsored Programs, Montana State University, Nebraska Business Development Center, University of Nebraska at Omaha, University of Nevada, Reno, Arrowhead Center at New Mexico State University, The University of Oklahoma Tom Love Innovation Hub, University of South Carolina, and University of Wyoming Small Business Development Center.

Tom Love Innovation Hub via OU.edu

Tom Love Innovation Hub via OU.edu

The SBA notes that FAST candidates are endorsed by each of their state/territorial governors. Only a single proposal can be received per state/territory. Those proposals were then evaluated by panels of reviewers from the SBA itself, as well as the National Aeronautics and Space Administration, the Missile Defense Agency, U.S. Navy Office of Naval Research, and the National Institutes of Health.


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