Connecticut Innovations (CI), the state’s authority responsible for technology-based economic development, recently launched the $4m Connecticut SBIR Acceleration and Commercialization Program.
The program, which is supported with $1.8m in funding from the State and $2.2m from CI, is intended to provide entrepreneurs and small businesses participating in the federal Small Business Innovation Research (SBIR) program with funding to grow their emerging technology companies.
The funding initiatives under the Connecticut SBIR Acceleration and Commercialization Program include:
– the SBIR Phase I Matching Grant initiative, which is designed to help recent Connecticut SBIR Phase I winners advance their federal Phase I feasibility studies to million-dollar Phase II research awards. It encourages collaborations, especially with state universities. These grants were created to help bridge the funding gap between Phase I and subsequent awards. CI may increase its matching grant if a company subcontracts with a Connecticut research university.
– The Commercialization Loans initiative, which targets all Connecticut-based small firms that have received SBIR Phase II awards or other significant federal R&D funding (generally $500k or more) during calendar years 2011 or 2012. The loans will require a 50% percent match, which may come from a variety of sources.
Details of these opportunities can be found at: https://www.ctinnovations.com/sbirfunding.
Some of the funding will be used to launch a new state technology platform, the CTiHUB, which will allow tech companies, manufacturers, agencies, universities, incubators, service providers and others to collaborate and do business in a virtual, online environment.