WASHINGTON -, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced that the SBA has issued 49 grants up to $200,000 each to organizations supporting startups through specialized training, mentoring, and technical assistance under the Federal and State Technology (FAST) Partnership Program.

“FAST funding, which fuels innovation to keep America competitive globally, has doubled under the Biden-Harris Administration. At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America’s innovative startups is a top priority. America’s Seed Fund, powered by the SBA and fueled by 11 federal agencies’ SBIR and STTR programs, is the largest source of early-stage funding in the world.  With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it, and build it with America’s Seed Fund in every corner of America,” said Administrator Guzman.

FAST’s objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based, or socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America’s Seed Fund. 

This year, the FAST program increased the maximum funding available by 60% to expand the geographic footprint of FAST and increase engagement of underserved, geographic, and demographic innovators across the country. As a result, FAST awardee organizations will provide support across 48 states and Puerto Rico. FAST organizations work locally and provide person-to-person support and training that increases the probability of success for entrepreneurs and small businesses pursuing SBIR or STTR contracts and grants.

The FAST program provides awards for a base period of 12 months, plus four optional continuation periods of 12 months each.


The FAST grantees are as follows:

STATE	ORGANIZATION
Alabama	The Catalyst Center for Business & Entrepreneurship
Alaska	University of Alaska Fairbanks
Arkansas	University of Arkansas System dba Univ. of Ark. at Little Rock
Arizona	Commerce Authority, Arizona
California	Cal Poly Humboldt Sponsored Programs Foundation
Colorado	Economic Development and International Trade, Colorado Office
Connecticut	Connecticut Innovations, Inc.
Delaware	University of Delaware
Florida	University of Central Florida Research Foundation, inc.
Georgia	University of Georgia Research Foundation
Hawaii	Hawaii Technology Development Corporation
Idaho	Idaho State University
Illinois	Board of Trustees of the University of Illinois
Indiana	Indiana Economic Development Corporation
Iowa	Iowa State University of Science and Technology
Kansas	Wichita State University
Kentucky	Kentucky Science and Technology Corporation
Louisiana	Louisiana Economic Development
Maine	Central Maine Growth Council
Maryland	Maryland Technology Development Corporation (TEDCO)
Michigan	BBC Entrepreneurial Training & Consulting
Minnesota	MNSBIR, Inc.
Missouri	The Curators of the University of Missouri
Mississippi	Innovate Mississippi
Montana	Montana State University
Nebraska	Board of Regents, Univ. of Neb., dba Univ. of Neb. at Omaha
Nevada	Board of Regents, NSHE obo the University of Nevada, Las Vegas
New Hampshire	University of New Hampshire
New Jersey	Rutgers, The State University
New Mexico	Regents of New Mexico State University
New York	Research Foundation of CUNY
North Carolina	First Flight Venture Center, Inc.
North Dakota	University of North Dakota
Ohio	Ohio Aerospace Institute
Oklahoma	Board of Regents of the University of Oklahoma
Oregon	VertueLab
Pennsylvania	Ben Franklin Technology Partners Corporation
Puerto Rico	Puerto Rico Science, Technology & Research Trust
Rhode Island	Rhode Island Commerce Corporation
South Carolina	University of South Carolina
South Dakota	South Dakota Biotechnology Council
Tennessee	Tennessee Technology Development Corporation dba LaunchTN
Texas	The University of Texas at San Antonio
Utah	Governor's Office of Economic Opportunity
Virginia	Virginia Innovation Partnership Corporation
Washington	Life Science Washington Institute
Wisconsin	Board of Regents of the University of Wisconsin System
West Virginia	U.S. Research Impact Alliance
Wyoming	University of Wyoming

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About FAST

In FY 2024, $9 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. Additional information can be found at https://www.sbir.gov/community/fast.

About SBIR/STTR

SBA coordinates the SBIR/STTR programs, known as America’s Seed Fund across the eleven participating federal agencies. Over $4 billion in early-stage seed capital is provided annually through over 6,000 awards to more than 4,000 small businesses. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the Americas Seed Fund 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 helps power the American dream of business ownership. 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.

Christine Saah Nazer
U.S. Small Business Administration
(202) 756-0304
Christine.saahnazer@sba.gov

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