The U.S. Small Business Administration has once again awarded a grant to promote research and innovation in Colorado firms.
For a second straight year, the SBA awarded a Federal and State Technology (FAST) grant to the Colorado Office of Economic Development and International Trade
The grant was among 24 worth a total of $3 million the SBA awarded nationally for mentoring, technical assistance and training and to improve outcomes through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The efforts involve women-owned, rural-based and socially and economically disadvantaged firms.
“I’m so pleased to once again congratulate our partners at the Colorado Office of Economic Development and International Trade and Colorado (Small Business Development Centers) Network on being awarded an SBA FAST grant,” said Frances Padilla, director of the Colorado District Office of the SBA.
“This grant is one of many tools that SBA and its strategic partners can utilize to help Colorado small business innovators and disruptors, especially those in underserved markets, bring their solutions to the attention of federal agencies and towards the ultimate goal of commercialization,” Padilla said.
The FAST grant will help provide better access to small business technology resources offered through the Colorado Office of Economic Development and International Trade small business development network and TechSource program.
SBA Administrator Jovita Carranza said FAST grants help entrepreneurs start and grow businesses. “Programs like FAST are more critical than ever as the SBA is laser focused on helping small businesses recover and once again propel the national economy forward.”
Funding offered through small business innovation research and technology transfer programs can help firms start as well as achieve subsequent success, Carranza said. “Some of our nation’s leading technology firms got their start with SBIR funding, and FAST is helping expand those opportunities to other entrepreneurs.”