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.”
