TechConnect West Virginia announces program for state businesses, entrepreneurs
7 News, WTRF-TV
Business opportunities within the Mountain State are about to be scaled up.
TechConnect West Virginia has announced a new program designed to help West Virginia companies pursue business opportunities with the federal government through its Small Business Innovation Research (SBIR) program.
The initiative, The ScaleUp West Virginia SBIR Assistance Program, is made possible through resources provided to Tech Connect by the U.S. Economic Development Administration and the State of West Virginia.
Anne Barth, TechConnect West Virginia’s executive director, said program can help West Virginia entrepreneurs, researchers and small businesses offset the cost of engaging outside support in developing and submitting successful SBIR applications.
“Many West Virginia-based companies have innovative products in the early stages of research and development,” said Barth. “The SBIR program is an excellent opportunity to secure non-dilutive, early stage funding to move a product from the drawing board to market. Our ScaleUp West Virginia SBIR Assistance Program is designed to help West Virginians and their businesses engage the expertise they need participate in this opportunity.”
The SBIR program encourages domestic small businesses to engage in scientific research and development that has the potential for commercialization. Through the program, companies can be awarded funding to study the feasibility of a product, create a prototype, or conduct a full research and development project. Typical awards range from approximately $150,000 to $1 million.
To receive an SBIR award, a company must identify the federal agency that has the most need for the company’s research or product, and then submit a highly detailed award application to that agency.
West Virginia companies, researchers and entrepreneurs can find information on eligibility and how to request TechConnect West Virginia support here.