ASBTDC helps secure $500,000 in federal funds for small businesses
糖心Vlog传媒 Little Rock College of Business
Assisted by the Arkansas Small Business and Technology Development Center, three Arkansas companies have won federal Small Business Innovation Research funding this spring for groundbreaking product research and development.
The awards total $444,999.
GeneCoMe Biotech of Jonesboro and Fauxsee Innovations of Magnolia won SBIR Phase I funding through the U.S. Department of Agriculture. A third company, Fayetteville-based Ozark Integrated Circuits, won two SBIR Phase I grants from the National Aeronautics and Space Administration.
The agencies issued the award notices in April and May.
SBIR is an important source of early-stage funding for small companies seeking to get new products or technologies from the lab to the marketplace. The highly competitive three-phase award system provides $2 billion annually to American small businesses that propose innovative ideas meeting the specific research and development needs of participating federal agencies. Interested firms apply by responding to requests for proposals from 11 federal agencies.
Rebecca Norman
The ASBTDC, with headquarters聽in the University of Arkansas at Little Rock College of Business, specializes in helping Arkansas-based, research-capable companies pursue SBIR funding and navigate the lengthy and tedious application process.
鈥淔or first-time applicants, the average success rate is 15 percent,鈥� said Rebecca Norman, the center鈥檚 innovation consultant and SBIR specialist.
鈥淭o prepare a winning SBIR Phase I proposal, a company needs to have a highly detailed work plan, a qualified project team and strong interest from the commercial market. By taking advantage of ASBTDC鈥檚 free proposal development and market research services, Arkansas entrepreneurs greatly increase their chances of submitting competitive SBIR proposals.鈥�
Officers from GeneCoMe Biotech, Fauxsee Innovations and Ozark Integrated Circuits all expressed appreciation for ASBTDC鈥檚 assistance.
鈥淭he ASBTDC was a tremendous help in two areas: providing basic market research and by critiquing earlier versions of the proposals. All of this was done in a very timely manner,鈥� said Ozark IC鈥檚 CEO Dr. Matt Francis.
鈥淩ebecca Norman of the ASBTDC was essential in the proposal writing process, because of her extensive knowledge and advice,鈥� said Brandon Foshee, president and CEO of Fauxsee Innovations.
GeneCoMe Biotech Chief Scientific Officer Dr. Giuliana Medrano said, 鈥淩ebecca Norman of the ASBTDC guided me during the whole process of the grant applications, from registration of the company, to the SBIR application process, pre-award and post-award documentation. I can鈥檛 be more thankful for Rebecca鈥檚 assistance on this proposal application. She is the best innovation consultant in the state.鈥�
The funded projects have vastly different applications, from poultry production to assistance for the visually impaired to space exploration.
total $444,999.
GeneCoMe Biotech of Jonesboro and Fauxsee Innovations of Magnolia won SBIR Phase I funding through the U.S. Department of Agriculture. A third company, Fayetteville-based Ozark Integrated Circuits, won two SBIR Phase I grants from the National Aeronautics and Space Administration.
The agencies issued the award notices in April and May.
SBIR is an important source of early-stage funding for small companies seeking to get new products or technologies from the lab to the marketplace. The highly competitive three-phase award system provides $2 billion annually to American small businesses that propose innovative ideas meeting the specific research and development needs of participating federal agencies. Interested firms apply by responding to requests for proposals from 11 federal agencies.
