25-02, SBA Awards $9M in Grants to 49 Organizations Across America to Help Underserved Communities Access Development Funding and Innovative Research

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WASHINGTON -, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman , head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced that the SBA has issued 49 grants up to $200,000 each to organizations supporting startups through specialized training, mentoring, and technical assistance under the Federal and State Technology (FAST) Partnership Program.

“FAST funding, which fuels innovation to keep America competitive globally, has doubled under the Biden-Harris Administration. At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America’s innovative startups is a top priority. America’s Seed Fund, powered by the SBA and fueled by 11 federal agencies’ SBIR and STTR programs, is the largest source of early-stage funding in the world. With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it, and build it with America’s Seed Fund in every corner of America,” said Administrator Guzman.

FAST’s objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based, or socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America’s Seed Fund.

This year, the FAST program increased the maximum funding available by 60% to expand the geographic footprint of FAST and increase engagement of underserved, geographic, and demographic innovators across the country. As a result, FAST awardee organizations will provide support across 48 states and Puerto Rico. FAST organizations work locally and provide person-to-person support and training that increases the probability of success for entrepreneurs and small businesses pursuing SBIR or STTR contracts and grants.

The FAST program provides awards for a base period of 12 months, plus four optional continuation periods of 12 months each.

The FAST grantees are as follows:

STATEORGANIZATIONAlabamaThe Catalyst Center for Business & EntrepreneurshipAlaskaUniversity of Alaska FairbanksArkansasUniversity of Arkansas System dba Univ. of Ark. at Little RockArizonaCommerce Authority, ArizonaCaliforniaCal Poly Humboldt Sponsored Programs FoundationColoradoEconomic Development and International Trade, Colorado OfficeConnecticutConnecticut Innovations, Inc.DelawareUniversity of DelawareFloridaUniversity of Central Florida Research Foundation, inc.GeorgiaUniversity of Georgia Research FoundationHawaiiHawaii Technology Development CorporationIdahoIdaho State UniversityIllinoisBoard of Trustees of the University of IllinoisIndianaIndiana Economic Development CorporationIowaIowa State University of Science and TechnologyKansasWichita State UniversityKentuckyKentucky Science and Technology CorporationLouisianaLouisiana Economic DevelopmentMaineCentral Maine Growth CouncilMarylandMaryland Technology Development Corporation (TEDCO)MichiganBBC Entrepreneurial Training & ConsultingMinnesotaMNSBIR, Inc.MissouriThe Curators of the University of Missouri MississippiInnovate MississippiMontanaMontana State UniversityNebraskaBoard of Regents, Univ. of Neb., dba Univ. of Neb. at OmahaNevadaBoard of Regents, NSHE obo the University of Nevada, Las VegasNew HampshireUniversity of New HampshireNew JerseyRutgers, The State UniversityNew MexicoRegents of New Mexico State UniversityNew YorkResearch Foundation of CUNYNorth CarolinaFirst Flight Venture Center, Inc.North DakotaUniversity of North DakotaOhioOhio Aerospace InstituteOklahomaBoard of Regents of the University of OklahomaOregonVertueLabPennsylvaniaBen Franklin Technology Partners CorporationPuerto RicoPuerto Rico Science, Technology & Research TrustRhode IslandRhode Island Commerce CorporationSouth CarolinaUniversity of South CarolinaSouth DakotaSouth Dakota Biotechnology CouncilTennesseeTennessee Technology Development Corporation dba LaunchTNTexasThe University of Texas at San AntonioUtahGovernor's Office of Economic OpportunityVirginiaVirginia Innovation Partnership CorporationWashingtonLife Science Washington InstituteWisconsinBoard of Regents of the University of Wisconsin System West VirginiaU.S. Research Impact AllianceWyomingUniversity of Wyoming ###

About FAST

In FY 2024, $9 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. Additional information can be found at https://www.sbir.gov/community/fast .

About SBIR/STTR

SBA coordinates the SBIR/STTR programs, known as America’s Seed Fund across the eleven participating federal agencies. Over $4 billion in early-stage seed capital is provided annually through over 6,000 awards to more than 4,000 small businesses. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the Americas Seed Fund often generate some of the most important breakthroughs each year in the U.S. Additional information about the programs, as well as past and current topics can be found at www.sbir.gov .

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov .

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