SBIR grant-matching program aims to fuel high-tech small businesses

MNADISON, Wis. — The Wisconsin Economic Development Corporation (WEDC) will provide $1 million in funding to entrepreneurs through a new program aimed at commercializing high-tech innovation. The program, called SBIR Advance, will be administered by the University of Wisconsin-Extension’s Center for Technology Commercialization (CTC) and will be accessible to young companies throughout the state. Applications will open August 1, 2014.

Funds from the program are available to recipients of federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. The U.S. government created the SBIR/STTR programs to stimulate domestic high-tech innovation, providing $2 billion of federal research funding each year.