Kentucky Program Matches High-Tech Grants to Small Businesses
Kentucky now has a unique incentive program that provides state funds to match federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) awards to high-tech small businesses in Kentucky. The program, part of the biennial budget submitted by Governor Ernie Fletcher and passed last April by the General Assembly, is the nation’s first to specifically match both federal SBIR and STTR Phase 1 and Phase 2 awards.
The program is part of Kentucky’s plan to offer comprehensive SBIR and STTR funding, including Phase 0, Phase 1, Phase 00, and Phase 2, as well as to invest state funds in Kentucky companies during Phase 3 technology commercialization.
“Kentucky is again leading the nation in our support of high-tech small businesses. This initiative means that Kentucky is now the only state in the nation with a start-to-finish matching funds program for innovative high-tech small businesses that receive federal SBIR and STTR awards," said Governor Ernie Fletcher. "These grants support the development of new technologies into commercial products and help demonstrate Kentucky’s commitment to assisting our high-tech companies."
The Cabinet for Economic Development’s Department of Commercialization and Innovation (DCI) will manage the program, which will be administered under contract to DCI by the Kentucky Science and Technology Corporation. Kentucky-based SBIR and STTR grant recipients can apply for matching funds of up to $100,000 to support Phase 1 exploration of the technical merit or feasibility of an idea or technology. Starting in July 2007, Phase 2 federal awards, which support full-scale research and development, will be matched by the commonwealth up to $500,000 in each year of the award. Phase 0 and Phase 00 funds are also available to assist with preparing proposals for Phase 1 and Phase 2 grants, respectively.
DCI started accepting applications for the program on November 15, 2006. Guidelines and application forms can be downloaded at www.ThinkKentucky.com/dci/SBIR.
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