The SBA called as the small business administration in United States accepts the requests for funding of grants from the governors belonging to the states in U.S and its territories mainly for supporting the programs for ground breaking and technology driven under the SBA’s Federal and the state technology known as Fast partnership program from 10th May 2010.
Significant role is played by the partners who are developed through this program to bring good potential. Strong foundation is laid by these small organizations for the prosperity of the economy.
FAST organization provides more than 2 million US dollars towards funding. It works out to approximately 1,00,000 US dollars for each applicant towards technical assistance and outreach for the technology based and science based small business.
The emphasis particularly placed by this program is to help the economically and socially disadvantaged organizations in the Small business innovation research called SBIR and STTR or otherwise known as small business technology transfer programs. The eligible candidates or applicants for this FAST grants includes the local and state economic development agencies, colleges, universities and small business development centers. The proposal may be submitted by each state through its governor and should be limited to one.
The FAST program is mainly started to help the cutting edge of the American proprietors to continue to drive their innovative and creative jobs in a good manner.
The applicants for this program are encouraged and the support is given in the areas like – transfer of technology from universities to small businesses, assistance for research in small business, diffusion of technology of innovation that will benefit the small business, development of proposal and monitoring the small business that has applied for SBIR grant. Lastly, technology commercialization that is developed via grants from SBIR.
The companies that are helped by the STTR and SBIR programs quite often create some of the vital breakthrough every year in United States. To quote an example, over 25% of the top 100 innovations of the research and development magazine comes from the small business funded by SBIR.
The proposals submitted by the organizations will be examined and judged by a committee that consists of owners of small business, representatives from state level, managers of federal SBIR program and the representatives from the academic communities and the business organizations. Joint review will be done by SBA, department of defense and national science of the recommendations submitted by the examining committee and give awards based on their merit. The requirement of fund level varies from every participating territory and the state.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants
Apart from the Government, there are several foundations that liberally offer grants for several purposes. Visit the Grant Foundation Guide to know how to avail of free grants from private foundations. Also, check out the Education Grants Guide to find the best sources for all types of education grants.