The U.S. Small Business Administration (SBA) administers the Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program. Through these tools federal agencies provide grants to small businesses to conduct research and development and prove out the technical and commercial viability of their innovations to prepare them for production and marketing. But the SBIR/STTR funding alone still leaves gaps in areas critical to getting early-stage companies to the point of producing revenue and becoming viable businesses. Companies at the end of SBIR Phase I projects often struggle to stay viable until they are able to win and receive Phase II grant funds.
As part of the state’s efforts to assist innovative companies and address gaps in the federal program, Business Oregon’s SBIR/STTR Matching Grant Program provides funding to help businesses make it through those federal funding gaps make it to the next stage of growth.
Now through October 31, 2019, Business Oregon is seeking applications for matching grants of either federal Phase I SBIR/STTR awards or Phase II awards. An Oregon company that has received a Phase I SBIR/STTR award may submit a proposal for projects up to $50,000. A company with a Phase II or Fast-track award may submit a proposal for projects up to $100,000.
Business Oregon’s funds are intended to complement federal dollars and better position the company for future fundraising and growth after the federal grant is completed. Business Oregon’s matching grants can be used on activities that cannot be covered by the federal SBIR/STTR grant funds and for things necessary for the company to move beyond the federally funded project and get closer to commercial production.
Applications are due no later than 11:59pm on Thursday, October 31, 2019. A Request for Proposal (RFP) and application form can be accessed from the Business Oregon SBIR web page.
Business Oregon, the state’s economic development agency, invests in Oregon businesses, communities, and people to promote a globally competitive, diverse, and inclusive economy. The agency’s services span rural community development and infrastructure financing; business retention, expansion and recruitment; export promotion and international trade; investments in industry research and development and entrepreneurship; small business assistance; and support for arts and cultural organizations. Learn more at www.oregon4biz.com.