STAC Awards SBIR Phase I Matching Grants to Six Local Firms
Published on October 23, 2014
Six Rhode Island businesses will receive $269,963 in grants from the state's Innovate Rhode Island Small Business Fund (Innovate RI Fund) as a state match for federal SBIR Phase I awards.
The state grants will leverage $1,027,654 in federal funds from the National Institutes of Health and Departments of Energy and Defense. This is the second year the grants have been available through the Innovate RI Fund. The Rhode Island General Assembly created the fund in 2013 to help foster job creation, facilitate small business development and enhance the workforce pipeline. Last year, eight companies received $359,880 in state grants to leverage $1,424,592 in federal SBIR/STTR Phase I awards. Two of these companies, CREmedical and Vision Systems, have received SBIR/STTR Phase II awards totaling an additional $1,250,000 in federal funding.
"To create jobs and grow our economy, we must continue to support and invest in our existing assets, such as the great minds at work at our colleges, universities, pioneering businesses and research facilities," Governor Lincoln D. Chafee said. "The Innovate Rhode Island Fund enables us to promote and encourage cutting-edge research, support our small businesses and attract more federal research dollars to Rhode Island."
Companies receiving funding are:
Applied Radar, Inc., North Kingstown, RI
Award amount: $44,999
This project will develop a low-profile, lightweight, high bandwidth Multi-Band antennae system that can be used for advanced helicopter designs.
BTech Acoustics LLC, Barrington RI
Award amount: $44,998
This project will develop velocity sensors for use on SONAR arrays that can be installed on the external hull on submarines.
Calista Therapeutics, Lincoln, RI
Award amount: $45,000
This project will provide pre-clinical testing of a new peptide drug to treat Cystic Fibrosis.
ProThera Biologics, East Providence, RI
Award amount: $45,000
This project will obtain proof of concept for how certain proteins can be used to reduce the effects of newborn brain injuries.
Navatek CFD Technologies, LLC, South Kingstown, RI
Award amount: $44,992
This project will develop a galley-scullery water conservation system that will reduce wastewater storage needs and allow combat ships to operate for longer times in coastal waters.
Voltserver, East Greenwich, RI
Award amount: $44,973
This project will speed the adoption of solid state lighting in commercial buildings by using a safe and efficient method for distributing high voltage power and high band width communications.
Through the Innovate RI Fund, eligible Rhode Island small businesses may apply for grants to defray the cost of applying for federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBIR/STTR) awards, match SBIR/STTR Phase I awards and hire interns. The state grant funds are provided to insure companies are successful in completing the federally funded work and submitting a Phase II grant proposal with the goal of receiving additional funding to further advance the technology being developed. State matching grants are equal to 30 percent of the federal award up to a maximum of $45,000.
The grants announced today are the result of the first call for applications for FY 2015. Approximately $135,000 is still available to fund three additional grants by June 30, 2015. Applications are sought on a quarterly basis. The next call for applications will be posted in January 2015 for companies that received SBIR/STTR Phase I awards in the fourth quarter of 2014.
For more information on the Innovate RI Fund, visit http://stac.ri.gov/innovate-ri-fund.