What it is
The SBIR Acceleration and Commercialization program is designed to increase the participation of Connecticut-based firms in federal SBIR and STTR grant programs. These programs improve a small business’ chances of advancing their technology and achieving commercialization and job growth.
Grants and loans are available through the program, but note that the criteria for each are very specific.
State Matching Grants
Grants are available only to Connecticut-based companies that have won a federal SBIR/STTR Phase I award in 2013 or 2014. (If you would like information about how you can win a federal Phase I SBIR/STTR grant, click here.) For a list of past SBIR/STTR award winners, click here.
Grants have a base level of $30,000. If a small business subcontracts with a Connecticut research university, the funding may increase by $10,000 in order to fund the direct costs of the university effort.
Larger grants may be awarded if the small business is able to attract additional funding from an SBIR federal agency. (Example: An NSF Phase IB requires a $60,000 cash match for an additional $30,000 of federal funding.) This is awarded on a case-by-case basis.
Loans are available only to Connecticut-based companies that have won Phase II SBIR/STTR funding.
Qualified companies may apply for up to $150,000 with a required 50 percent company match. The match may come from a variety of sources. In special cases the loan may be converted to a grant or equity.
Loans can be used for further development of prototypes or proofs of concept, hiring new employees/assembling teams, intellectual property development and protection, testing and certification, machine tools, business plan development, technology assessments, market analyses/validations/strategies, accounting, legal and other business advisory services.
The bulk of the funding for both Phase I and Phase II winners must be used in Connecticut.
How to apply
Click here for more information and to apply.
If you have any additional questions, contact: