SBA Awards $125,000 Grant to Research Foundation for SUNY to Support R&D & Small Business Innovation

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SBAThe Research Foundation for the State University of New York (SUNY) was one of 16 state and local economic development agencies, business development centers, colleges and universities to receive a $125,000 Federal and State Technology (FAST) Partnership Program grant from the U.S. Small Business Administration (SBA), it was announced today.
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Additional grants for $200,000 each were also awarded to five Small Business Technology Development Centers to support programs for innovative and technology-driven small businesses.?
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?We?re excited about partnering with these organizations to help entrepreneurs around the country learn about and compete for Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) awards,? said John Williams, SBA Director of Innovation.? ?The main goal of FAST is to provide more boots on the ground in local communities through our partner organizations to increase awareness about SBIR/STTR?s early stage funding and level the playing field for entrepreneurs, especially those in underrepresented communities.?
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SBA Regional Administrator Kellie LeDet, who oversees the agency?s programs and services for all of New York, New Jersey, Puerto Rico and the U.S. Virgin Islands said, ?FAST is designed to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with a particular emphasis on socially and economically disadvantaged firms, helping them to compete in federally-funded research and development through SBIR and STTR Programs.?
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In addition, FAST funding awardees must demonstrate how they will help support areas such as:
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??????????? 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.

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LeDet also noted that candidates for the grants were submitted through each of their state and territorial governors, as each governor may submit only one proposal.? After evaluations were made by panels of SBIR program managers, the SBA,? Department of Defense and the National Science Foundation jointly reviewed panel recommendations and made FAST awards based upon the merits of each proposal. Varying levels of matching funds were required, 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, 2016.

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