WASHINGTON -, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden's Cabinet for America's more than 34 million small businesses, announced that the SBA has issued 49 grants up to $200,000 each to organizations supporting startups through specialized training, mentoring, and technical assistance under the Federal and State Technology (FAST) Partnership Program.
"FAST funding, which fuels innovation to keep America competitive globally, has doubled under the Biden-Harris Administration. At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America's innovative startups is a top priority. America's Seed Fund, powered by the SBA and fueled by 11 federal agencies' SBIR and STTR programs, is the largest source of early-stage funding in the world. With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it, and build it with America's Seed Fund in every corner of America,” said Administrator Guzman.
FAST's objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based, or socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America's Seed Fund.
This year, the FAST program increased the maximum funding available by 60% to expand the geographic footprint of FAST and increase engagement of underserved, geographic, and demographic innovators across the country. As a result, FAST awardee organizations will provide support across 48 states and Puerto Rico. FAST organizations work locally and provide person-to-person support and training that increases the probability of success for entrepreneurs and small businesses pursuing SBIR or STTR contracts and grants.
The FAST program provides awards for a base period of 12 months, plus four optional continuation periods of 12 months each.
The FAST grantees are as follows:
| STATE | ORGANIZATION |
| Alabama | The Catalyst Center for Business & Entrepreneurship |
| Alaska | University of Alaska Fairbanks |
| Arkansas | University of Arkansas System dba Univ. of Ark. at Little Rock |
| Arizona | Commerce Authority, Arizona |
| California | Cal Poly Humboldt Sponsored Programs Foundation |
| Colorado | Economic Development and International Trade, Colorado Office |
| Connecticut | Connecticut Innovations, Inc. |
| Delaware | University of Delaware |
| Florida | University of Central Florida Research Foundation, inc. |
| Georgia | University of Georgia Research Foundation |
| Hawaii | Hawaii Technology Development Corporation |
| Idaho | Idaho State University |
| Illinois | Board of Trustees of the University of Illinois |
| Indiana | Indiana Economic Development Corporation |
| Iowa | Iowa State University of Science and Technology |
| Kansas | Wichita State University |
| Kentucky | Kentucky Science and Technology Corporation |
| Louisiana | Louisiana Economic Development |
| Maine | Central Maine Growth Council |
| Maryland | Maryland Technology Development Corporation (TEDCO) |
| Michigan | BBC Entrepreneurial Training & Consulting |
| Minnesota | MNSBIR, Inc. |
| Missouri | The Curators of the University of Missouri |
| Mississippi | Innovate Mississippi |
| Montana | Montana State University |
| Nebraska | Board of Regents, Univ. of Neb., dba Univ. of Neb. at Omaha |
| Nevada | Board of Regents, NSHE obo the University of Nevada, Las Vegas |
| New Hampshire | University of New Hampshire |
| New Jersey | Rutgers, The State University |
| New Mexico | Regents of New Mexico State University |
| New York | Research Foundation of CUNY |
| North Carolina | First Flight Venture Center, Inc. |
| North Dakota | University of North Dakota |
| Ohio | Ohio Aerospace Institute |
| Oklahoma | Board of Regents of the University of Oklahoma |
| Oregon | VertueLab |
| Pennsylvania | Ben Franklin Technology Partners Corporation |
| Puerto Rico | Puerto Rico Science, Technology & Research Trust |
| Rhode Island | Rhode Island Commerce Corporation |
| South Carolina | University of South Carolina |
| South Dakota | South Dakota Biotechnology Council |
| Tennessee | Tennessee Technology Development Corporation dba LaunchTN |
| Texas | The University of Texas at San Antonio |
| Utah | Governor's Office of Economic Opportunity |
| Virginia | Virginia Innovation Partnership Corporation |
| Washington | Life Science Washington Institute |
| Wisconsin | Board of Regents of the University of Wisconsin System |
| West Virginia | U.S. Research Impact Alliance |
| Wyoming | University of Wyoming |
About FAST
In FY 2024, $9 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. Additional information can be found at https://www.sbir.gov/community/fast.
About SBIR/STTR
SBA coordinates the SBIR/STTR programs, known as America's Seed Fund across the eleven participating federal agencies. Over $4 billion in early-stage seed capital is provided annually through over 6,000 awards to more than 4,000 small businesses. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the Americas Seed Fund often generate some of the most important breakthroughs each year in the U.S. Additional information about the programs, as well as past and current topics can be found at www.sbir.gov.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
CONTACT: Christine Saah Nazer
U.S. Small Business Administration
(202) 756-0304
