Science & Technology
Grant funding, match and organizational collaboration model to increase outreach and support for NJ small business innovation statewide
The New Jersey Small Business Development Center (NJSBDC) network has been named as a recipient of the $125,000 Federal and State Technology (FAST) Program grant for the state of New Jersey, which will be used to support specialist training, mentoring and technical support for research and development (R&D) focused small companies by September 2023.
Funded by the federal government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, the FAST program grant is designed to help increase the number of SBIR/STTR proposals, resulting in an increase in the number of SBIR /STTR maintains awards for women, socially/economically disadvantaged individuals and small businesses in underrepresented areas, all priority areas for New Jersey under the leadership of Gov. Phil Murphy. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive programs that encourage domestic small businesses to engage in federal research/research and development (R&D) with commercialization potential. Through a competitive, awards-based program, SBIR and STTR enable small companies to explore their technological potential and provide incentives to capitalize on the commercialization of their innovations.
“We at the NJSBDC are thrilled to receive this new asset to support businesses,” said Kelly Brozyna, NJSBDC State Director. “This will be another tool for success and we look forward to growing through our partners across the state of New Jersey.”
To increase the impact and opportunity of the FAST grant for small businesses in New Jersey, the New Jersey Commission on Science, Innovation and Technology (NJCSIT) is doubling the award amount.
“The NJ Commission on Science, Innovation and Technology is thrilled that the NJSBDC network has received the FAST award, and we are proud to match this funding to support New Jersey entrepreneurs completing the state SBIR/STTR -Take advantage of grant opportunities,” said Judith Sheft, executive director of CSIT. “Innovation-based startups face unique hurdles on their journey to commercialization, and partnering with the NJSBDC allows us to expand access to additional technical support resources for all New Jersey small businesses to position themselves for success, with particular focus on reaching underserved communities. women-led, rural and socially and economically disadvantaged small businesses.”
To get the most out of the award, a hub-and-spoke model is used, designed to increase the efficient use of resources. A partnership between the Morris County Economic Development Corporation (MCEDC) and the NJSBDC at Fairleigh Dickinson University (NJSBDC at FDU) is one such hub. The strategic partnership will expand access and opportunities for small business consulting, support services, market research and training to drive economic growth in Morris County. “With a highly skilled workforce and an innovative entrepreneurial ecosystem, Morris County and our region are well positioned to take advantage of the new opportunities offered by the FAST grant,” noted Craig Schlosser, Managing Director of MCEDC. “We are pleased to serve as the regional hub and I applaud the leadership of Kelly Brozyna and Judith Sheft for their support of research and development focused companies that are key to economic growth in Morris County and throughout the state of New Jersey. ”
NJSBDC’s upcoming event, America’s Seed Fund: Get $2 Million For Your Big Tech Idea for 0 Equity (USseedfund.eventbrite.com), on November 17th, is a comprehensive webinar for entrepreneurs new to the SBIR/STTR environment , and it is a joint event with CSIT and BioNJ, Funding and Support for Entrepreneurial Innovation in Transitional Sciences, processed the SBIR/STTR grant application through the National Center for Advancing Transitional Sciences (NCATS) on November 30th, demonstrating the value that the FAST grant in support of the NJSBDC continues to serve the NJ small business community.
For more information about the upcoming event or questions about NJSBDC, please contact: [email protected]
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