Wyoming SBDC Network Receives Grant to Commercialize Tech Innovations

LARAMIE- The Wyoming Small Business Development Center (SBDC) Network will continue to provide high-caliber assistance to technology start-ups, entrepreneurs and small businesses thanks to a $125,000 grant from the U.S. Small Business Administration. The Wyoming SBDC Network is one of 24 recipients of this year’s Federal and State Technology (FAST) Grant. The funds will be used to increase awareness, participation and success of Wyoming entrepreneurs in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs—which offer up to $2.5 billion annually in early-stage seed capital.

The Wyoming SBDC Network offers no-cost advice and technical assistance to entrepreneurs and small business owners in every industry who are looking to start, grow, or even sell their business. As a technology-accredited small business development center, the Wyoming SBDC Network provides support for developing and commercializing high risk, disruptive technologies through its Wyoming SBIR/STTR Initiative (WSSI). The WSSI provides entrepreneurs with start-up funding for their innovations, as well as assistance in applying for up to $1,225,000 in SBIR/STTR grants.

“SBA is thrilled to work with these organizations to increase the understanding of the SBIR/STTR programs,” says SBA Administrator Linda McMahon. “FAST partners are an important part of the innovation entrepreneur ecosystem.”

Each state is only allowed to submit one proposal for the FAST Grant and Gov. Matt Mead endorsed the Wyoming SBDC Network’s application. This is the seventh time the organization has been awarded this highly-competitive grant.

“These funds will have an immense impact on Wyoming’s technology start-up and innovation sectors,” says Jill Kline, state director for the Wyoming SBDC Network. “In the coming year, we will be able to better collaborate with the University of Wyoming’s Technology Transfer and Research Products Center to help identify additional patent and commercialization opportunities for the many cutting-edge innovations that are developed right here in Wyoming. Both entrepreneurship and technology innovation are vital parts of the state’s efforts to diversify our economy, and this grant will go a long way in helping to achieve that goal.”

Last year, the Wyoming SBDC Network helped secure more than $2.5 million in grants and provided $130,000 in contracts for Wyoming businesses to research and market their ideas and products.

 

###

 

About the Wyoming SBDC Network: The Wyoming Small Business Development Center (SBDC) Network is funded in part through a Cooperative Agreement with the U.S. Small Business Administration, state funds from the Wyoming Business Council, and host responsibilities and additional support provided by the University of Wyoming. The Wyoming SBDC Network offers an enormous amount of no-cost business expertise, technical assistance, and market research to help Wyoming residents think about, launch, grow, reinvent or exit their business. The Wyoming SBDC Network also offers capital and assistance to innovators looking to commercialize their idea and helps Wyoming businesses looking to contract with federal, state, and local governments. Additional Information can be found at WyomingSBDC.org.

About the FAST Grant: In FY 2018, $3,000,000 total was appropriated as grants for entities to carry out targeted activities from September 30, 2018 through September 29, 2019.  Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, and American Samoa are eligible to receive funding to provide outreach, technical, and financial assistance in support of the SBIR/STTR programs. Additional information can be found at www.sbir.gov/about-fast.