Seven small businesses in Wisconsin will receive up to $600,000 to commercialize their innovations, thanks to the SBIR Advance program’s latest round of funding.
The state matching grant program provides 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 18th round of SBIR Advance funding since this collaboration by the Wisconsin Economic Development Corporation (WEDC) and the Center for Technology Commercialization (CTC) began in 2014.
Over the past eight years, 128 awards totaling nearly $10.4 million have been awarded. Those business reported obtaining $62.7 million in follow on funding since receiving the SBIR Advance matching grants.