Ten small businesses in Wisconsin will receive matching grants to commercialize their innovations, thanks to the SBIR Advance program’s latest round of funding. Five businesses, selected for Phase I, will receive up to $75,000 each, and five Phase II businesses will receive up to $100,000.
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 13th round of SBIR Advance funding since this collaboration by the Wisconsin Economic Development Corporation (WEDC) and the University of Wisconsin System Administration’s Center for Technology Commercialization (CTC) began in 2014.
Since 2014, 88 awards have been given, equaling nearly $6.7 million throughout the state. Those businesses reported hiring more than 180 employees and obtaining over $29.5 million in additional capital since receiving the grants.Click here  for the full story