For the fifth consecutive year, the U.S. Small Business Administration (SBA) has granted Wichita State University $125,000 to assist businesses in qualifying for the Federal and State Technology (FAST) Partnership Program.
FAST provides one-year funding to organizations to execute state/regional programs that increase the number of Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) proposals; increase the number of SBIR/STTR awards; and better prepare SBIR/STTR awardees for commercialization success.
FAST is designed to stimulate economic development with outreach, training, mentoring, financial support, and business / technical assistance to R&D focused small businesses, with a particular emphasis on fostering participation from women-owned, rural-based, and socially/economically disadvantaged firms to help them compete in SBIR/STTR programs.
The FAST program engages high-growth businesses – especially those in KDOC target industry sectors such as alternative energy, distribution, bioscience, advanced manufacturing, value-added agriculture and food processing – to promote innovation, growth and productivity.
“Innovation has long been the backbone of the Kansas economy ensuring vibrant expanding enterprises that create growth,” said Debbie Franklin, WSU director of strategic initiatives. “The WSU Kansas FAST program will assist technology-based small business concerns, nascent entrepreneurs and students to innovate successfully and continually introduce commercially viable products, services and production process enabling them to compete in changing markets.
FAST program awardees are endorsed by their state and territorial governors, and each state may submit only one proposal. Proposals were evaluated by panels of reviewers from SBA, the National Aeronautics and Space Administration, the National Institute of Standards and Technology, the U.S. Department of Agriculture, Special Operations Command, the Department of Homeland Security, the Department of Energy, the Missile Defense Agency and the National Institutes of Health.
"FAST partners are an important part of the innovation entrepreneur ecosystem,” said SBA Administrator Linda McMahon. “They provide training, financial and technical assistance for small, next-generation technology businesses, and help them navigate federally-funded innovation and R&D programs."
About SBIR/STTR
SBA coordinates the SBIR/STTR programs, also known as America's Seed Fund, which each year provides more than $2.5 billion in early stage seed capital totaling almost 5,000 awards to small businesses. Eleven participating federal government agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the SBIR/STTR programs 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 makes the American dream of business ownership a reality. 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.
The mission of Wichita State University is to be an essential educational, cultural and economic driver for Kansas and the greater public good. Wichita State is a doctoral research university enrolling nearly 15,000 students and offering 59 undergraduate degree programs in more than 150 areas of study in seven undergraduate colleges. The Graduate School offers 45 master's and 12 doctoral degrees that offer study in more than 100 areas. Wichita State's Innovation Campus is an interconnected community of partnership buildings, laboratories and mixed-use areas where students, faculty, staff, entrepreneurs and businesses have access to the university's vast resources and technology. For more information, follow us on Twitter at www.twitter.com/wichitastate and Facebook at www.facebook.com/wichita.state.