Business Oregon has opened a Request for Grant Applications for certain applicants that have received federal monetary awards.
Request for Grant Applications is for applicants that have received a federal Phase I or Phase II Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) award that may be eligible for a state matching grant.
An Oregon company that has received a recent Phase I SBIR or STTR award may submit a proposal for a project up to $50,000. A company with a recent Phase II or Fast-track award may submit a proposal for a project up to $100,000.
The SBIR/STTR grant programs are federal programs designed to stimulate technological innovation and provide opportunities for small businesses to conduct research and development with commercialization potential. The U.S. Small Business Administration administers the SBIR and STTR programs, which are often referred to as “America’s largest seed fund.” In 2021, Oregon companies were awarded nearly $35 million in SBIR/STTR awards. SBIR/STTR provides funding that doesn’t dilute ownership, preserving control and flexibility for entrepreneurs.
However, the SBIR funding alone leaves gaps in areas critical to getting early-stage companies to the point of producing revenue and becoming viable businesses. The federal funding helps develop the product but can’t be used for many critical elements to create and scale a business. To address these gaps and increase the business’s chances of success, Business Oregon offers a matching grant program to help recipients cover costs outside the scope of the federal grant.
Business Oregon’s funds also help better position the companies for future fundraising and growth after the federal grants are completed. The state funds can be applied to expenses that help a company stay and grow in Oregon, such as customer engagement, facilities, testing equipment, production equipment, intellectual property protection, product marketing, business consulting and more.
To apply for a matching grant, complete an application form, which can be accessed at Business Oregon’s SBIR webpage. Submit the signed application along with the additional required documentation to email@example.com. Applications are due no later than 11:59 pm PDT on Friday, Oct. 7, 2022.
More information on the SBIR/STTR grant programs can be found on Business Oregon’s SBIR/STTR Program webpage. Specific questions regarding this funding announcement should be emailed to firstname.lastname@example.org.