Published On: Fri, Apr 4th, 2014

Deadline looms for SBA Small Business R&D & Innovation Grants

The deadline nears for U.S. Small Business Administration (SBA) grants to state and local economic development agencies, business development centers, colleges and universities in support of innovative, technology-driven small businesses under SBA’s Federal and State Technology (FAST) partnership program. Applications for the grants will no longer be accepted after Apr. 11.

FAST stimulates economic development among small, high-tech businesses through federally-funded innovation and research and development programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) by providing up to $100,000 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.

FAST funding awardees must demonstrate in their proposals 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.

Proposals will be considered from all 50 states, the District of Columbia and U.S. territories. Only one per state may be submitted, and received at http://www.grants.gov  by 11:59 p.m Apr. 11. Proposals are evaluated by a panel of SBIR program managers. The SBA, the Department of Defense and the National Science Foundation jointly review the panel’s recommendations and make awards based on proposal merit. The grant requires varying levels of matching funds from each participating state and territory.

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

For more information about the SBIR and STTR programs, visit SBA’s website at: http://www.sba.gov/about-sba-services/7050.