News

Kentucky will match federal grants to high-tech small businesses

November 20 , 2006 — Kentucky has become the first state to add state matching funds to two types federal grants to high-tech small businesses. The program will match Phase 1 and 2 Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) grants to high-tech companies.

“Kentucky is again leading the nation in our support of high-tech small businesses. This initiative means that Kentucky is now the only state in the nation with a start-to-finish matching funds program for innovative high-tech small businesses that receive federal SBIR and STTR awards," said Governor Ernie Fletcher. "These grants support the development of new technologies into commercial products and help demonstrate Kentucky’s commitment to assisting our high-tech companies."

The Cabinet for Economic Development’s Department of Commercialization and Innovation (DCI) will manage the program, which will be administered under contract to DCI by the Kentucky Science and Technology Corporation. Kentucky-based SBIR and STTR grant recipients can apply for matching funds of up to $100,000 to support Phase 1 exploration of the technical merit or feasibility of an idea or technology. Phase 2 federal awards, which support full-scale research and development, would be matched by the commonwealth up to $500,000 in each year of the award.

“This unique and progressive program is tailored to the particular needs of Kentucky’s high-tech and knowledge-based businesses,” said Economic Development Secretary Gene Strong. “It will significantly enhance Kentucky’s economic competitiveness and is already helping attract entrepreneurs and start-up companies to our state.”

DCI started accepting applications for the new program on November 15, 2006. View guidelines for the Kentucky program.