SBA’s Office of Technology as administrator for the “Federal and State Technology” (FAST) Partnership Program released the announcement (FAST 2012-R-0006) on June 5, 2012. Financial assistance will be given to small technology firms involved in commercializing new technologies. The goal is to fund projects to strengthen the technological competiveness of small business concerns in every state.
The program provides outreach, financial support, and technical assistance to technology-based small business concerns participating in or interested in participating in an SBIR program. SBA will establish or operate a mentoring network within the FAST Program to provide business advice to small tech companies.
Grants will be provided to:
- Small businesses and their technology research and development projects
- Transfer technology from university research to provide opportunities for technology-based small business concerns
- Help deploy technologies to benefit small business concerns
The program will also help to increase the technological capabilities of small business concerns by establishing a consortium. The consortium can be comprised of state and local development agencies and entities, representatives of technology-based small business concerns, industries, universities, and small business development centers.
Funding is estimated to be $2,000,000 for the awards. SBA anticipates that the amount of funding under each award to be $1,000,000 with 20 awards expected to be made.