Streamlining SBIR/STTR support to increase Wisconsin’s success
A unique new program, SBIR Labs, focused on streamlining Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programming in Wisconsin has received a competitive federal grant.
The Center for Technology Commercialization (CTC) is one of 49 organizations around the country to be awarded up to $1 million over 5 years by the U.S. Small Business Administration for specialized training, mentoring, and technical assistance under the Federal and State Technology (FAST) Partnership Program.
FAST seeks to improve outcomes in the SBIR/STTR Programs for underserved communities by increasing participation from women-owned, rural-based, and socially or economically disadvantaged small businesses. SBIR/STTR funds are non-dilutive, allowing awardees to keep all equity and ownership.
“We were thrilled to take learning from the past 3 years of FAST funding and build the SBIR Labs program which will empower innovators across the state to confidently pursue federal funding for their technology,” said Margaret Ramey, director of the Wisconsin CTC.
CTC has worked since 2005 to help clients secure SBIR grants, primarily from agencies such as National Institutes for Health and the National Science Foundation. Since 2021, CTC has been leveraging FAST funding to expand into the Department of Defense. SBIR Labs will allow CTC to continue focusing on these agencies while also exploring outside of Wisconsin’s more popular agencies.
“Innovative ideas are happening in small businesses all over the state, and this award helps Wisconsin entrepreneurs invest in their own research,” said Bon Wikenheiser, executive director of the Office of Business & Entrepreneurship, Universities of Wisconsin. “Over the last three years, we have seen a 36% increase in SBIR/STTR funding in Wisconsin. By helping people attract non-dilutive funding to get their products ready for investment, we grow our own and all benefit from their success.”
Based on this experience, CTC has developed the SBIR Labs program to help streamline the innovation journey. SBIR Labs will prioritize underserved communities, expanding the statewide outreach, and serve innovators with a focused path towards funding. SBIR Labs will tap entrepreneurs into broad SBIR workshops that funnel down to agency-specific, intimate workshops.
” The Universities of Wisconsin exist to serve our entire state, including the businesses and entrepreneurs that hire our graduates and help grow our economy,” said UW President Jay Rothman. “These new small business innovation labs created by the UWs Center for Technology Commercialization provide another example of the value we provide our partners across all of Wisconsin.”
The Wisconsin Economic Development Corporation (WEDC), a committed financial partner for other CTC programming, is also providing matching funds for this opportunity.
“It’s essential for Wisconsin to have a strong entrepreneurial ecosystem in order to bring innovative ideas to market,” said Missy Hughes, secretary and CEO of the Wisconsin Economic Development Corporation, the state’s leading economic developing organization. “Through SBIR FAST, entrepreneurs can access a wider range of potential partners, creating more opportunities for success.”
Read the national release and check out the FAST award release from 2021 to learn more about how this program has evolved in Wisconsin.
“The Center for Technology Commercialization has helped 129 Wisconsin businesses journey closer to commercialization through SBIR/STTR in the last three years,” said Eric Ness district director of Wisconsin SBA. “These funds will boost their reach and help more businesses achieve this goal.”
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About Center for Technology Commercialization
The Center for Technology Commercialization is part of the Universities of Wisconsin Office of Business & Entrepreneurship. CTC provides one-on-one expert consulting to early stage emerging technology businesses throughout Wisconsin. CTC has collaborated in acquiring more than $100 million in federal and other funding for clients. Learn more at https://wisconsinctc.org/; follow @WisconsinCTC on X.
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 (SBA) 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.