Small businesses in Wyoming that are innovative and research-oriented can benefit from a $100,000 grant to the University of Wyoming from the Small Business Administration's (SBA) Federal and State Technology (FAST) partnership program.
Partnered with the Wyoming Small Business Innovative Research and Technology Transfers Programs (SBIR/STTR) Initiative, UW was one of 20 FAST grant recipients nationwide after the SBA received applications from all 50 states.
SBIR and STTR programs provide grant and contract funds to small businesses for innovative new product research development. Eleven federal agencies support SBIR programs, supplying the nation's small business community with seed capital of more than $2 billion annually.
"Using the FAST grant, the SBDC and WSSI will provide expanded outreach to socially and economically disadvantaged firms throughout Wyoming," said Kelly Haigler Cornish, outreach coordinator for WSSI. "Additionally, we will be able to provide more SBIR and STTR proposal development support with the FAST funding."
The SBIR grants are provided in two phases. Phase I, when the feasibility of the concept is determined, typically is funded by a grant of up to $100,000. The Phase II grant, used to develop a prototype, typically is funded by up to $750,000.
Unique to Wyoming is the SBIR Phase 0 Program, sponsored by the Wyoming Business Council. The program provides $5,000 in funds to access resources needed to prepare competitive proposals for the Phase I and Phase II programs.
Wyoming operates a Phase 0 program to help small businesses apply for Phase I funding and now will expand that program to include a Phase 00 program with $5,000 contracts to help Wyoming small businesses apply for Phase II funding.
"We are excited about the opportunity to provide additional support at the Phase II level since companies that can successfully compete are awarded contracts or grants up to a million dollars," Cornish said. "That level of funding can really boost the research and development and create new jobs in Wyoming local economies."
Small businesses across the state are successful in the SBIR and STTR program. A full list of award winners is posted on the WSSI website: www.uwyo.edu/sbir
. The site also offers information to help companies compete for available funding.
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