MADISON – The Center for Technology Commercialization (CTC) is offering a matching grant of up to $100,000 to provide additional assistance to companies in the process of completing a project in the federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs.
This is the 24th round of SBIR Advance funding dedicated by the Wisconsin Economic Development Corporation (WEDC) since SBIR Advance began in 2014.
“Our SBIR Advance Phase I program is aimed at helping companies prepare competitive commercialization plans for competitive SBIR/STTR Phase II proposals,” said Rob Baranowski, SBIR Advance program manager. “Over the past ten years, 174 awards totaling over $15 million have been awarded. Those businesses reported obtaining $77.9 million in follow-on funding since receiving the SBIR Advance matching grants. The SBIR Advance Phase II funding is to help awardees reach business and commercial milestones.”
Deadlines are quickly approaching:
- Noon Oct. 17, 2024: Brief letter of intent to apply due, link found at http://wisconsinctc.org/sbir-advance.
- Noon Oct. 31, 2024: Full application due, link found at http://wisconsinctc.org/sbir-advance.
To be eligible, companies must have an SBIR/STTR project in either Phase I or Phase II of funding. All companies must have a significant presence in Wisconsin to be considered for the grant; and be registered within the Wisconsin Department of Financial Institutions.
Applicants should note these important dates:
- Week of Nov. 18, 2024: Companies chosen for funding will be notified by this time.
- Jan 2, 2025: Phase I match awardees must be prepared to start the Lean Startup Program. The course runs throughMar. 27, 2025, and is administered by the CTC. It teaches companies how to incorporate their technologies into a validated business model and defines the best possible target markets.
“We will be opening a new round of SBIR Advance grants with proposals due in October 2024,” said Baranowski. “We anticipate funding a new crop of innovative companies. Our Phase I commercialization grants help recipients get Phase II funding, and our Phase II winners get vital funding to help them commercialize their novel products. We select companies based on their need for funds and their potential to impact the Wisconsin economy. It is always satisfying to see so many great companies who have won SBIR grants get this follow-on funding through our program, because we see a measurable effect on Wisconsin’s economy through our clients’ efforts.”
For more details on the SBIR Advance program and current eligibility requirements, contact Baranowski at .
SBIR Advance is part of a Start-Seed-Scale (S3) initiative that WEDC is pursuing with the help of the Universities of Wisconsin and other business leaders throughout the state to remove barriers to high-tech commercialization. Under the S3 umbrella, WEDC and its economic development partners are implementing financial and operational assistance programs designed specifically to address Wisconsin’s business startup and seed-funding challenges. Selected SBIR Advance participants undergo Lean Startup training to assist with their SBIR Phase II applications.
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 Twitter.
About Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities, and people to thrive in a globally competitive environment. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Learn more at https://wedc.org; follow @WEDCNews on Twitter.
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