High-tech small businesses could receive up to $75,000 from SBIR Advance matching grant

CTC_logoUW-Extension’s Center for Technology Commercialization (CTC) is offering a matching grant of up to $75,000 to provide additional assistance to companies in the process of completing a project in the federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs.

This is the eighth round of SBIR Advance funding dedicated by the Wisconsin Economic Development Corporation (WEDC) since SBIR Advance began in 2014.

“These funds continue to help SBIR companies do critical business-related activities that accelerate their commercialization and ultimately benefit the Wisconsin economy,” said Dr. Todd Strother, CTC Senior Technology Consultant and SBIR Advance Program Manager.

Deadlines are quickly approaching:

To be eligible, companies must have an SBIR/STTR project in either Phase I or Phase II of funding. All companies must be located in Wisconsin to be considered for the grant. Funds can be used for business and market development, customer validation, intellectual property work or other areas needed to speed product commercialization.

Applicants should also note these important dates:

  • Jan. 26, 2017: Companies chosen for funding will be notified by this time.
  • Feb. 9, 2017: Phase I Match awardees must be prepared to start the Lean Startup Program. The course runs through May 4 and is administered by the CTC. It teaches companies how to incorporate their technologies into a validated business model and defines the best possible target markets.

For more details on the SBIR Advance program, visit www.wisconsinsbir.org/content/sbir-advance-matching-grant or contact Strother at todd.strother@uwex.edu.

SBIR Advance is part of a Start-Seed-Scale (S3) initiative WEDC is pursuing with the help of the UW System and other business leaders throughout the state to remove barriers to high-tech commercialization. Under the S3 umbrella, WEDC and its economic development partners are implementing financial and operational assistance programs designed specifically to address Wisconsin’s business startup and seed-funding challenges. One such initiative — also a collaborative effort between WEDC and the UW System — is the Ideadvance Seed Fund, also managed by UW-Extension’s CTC. Selected SBIR Advance participants undergo Ideadvance Lean Startup training that is modified to assist with their SBIR Phase II applications.

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