Annual Matching Program advances commercialization of technology across state
Nashville, Tenn. – Launch Tennessee (LaunchTN) today announces the 12 selected recipients of Tennessee Small Business Innovation Research / Small Business Technology Transfer (SBIR/STTR) Matching Fund Grant program, developed and funded by LaunchTN through the Tennessee Department of Economic and Community Development. The SBIR/STTR program is a strategic initiative to advance the commercialization of technology across the state.
SBIR/STTR grants are awarded nationally to nearly 5,000 startups and small businesses each year. In 2017, LaunchTN, with the support of Governor Bill Haslam and the state, started the grant-matching program to stimulate the state’s economy. To date, 24 companies, of which eight are led by women, veterans and minorities, received funds totaling $3 million dollars. That funding has leveraged more than $14.8 million federal dollars into those Tennessee businesses. The program also facilitated the creation of 44 full-time positions and the purchase of crucial equipment for overall market expansion of tech-enabled small businesses.
“As Tennesseans, we should be proud that so many promising businesses were awarded SBIR/STTR grants through a highly competitive process,” said Margaret Dolan, President and CEO of LaunchTN. “We are pleased to offer this grant-matching program in Tennessee, which increases the amount of funding entrepreneurs are awarded, and positions them for greater success as they commercialize their products.”
The following 12 companies will receive SBIR/STTR Matching Funds:
- Coulometrics, Chattanooga
- E & G Associates, Chattanooga
- Frontier Diagnostics, Nashville
- Grow Bioplastics DBA Mobius, Lenoir City
- Gloyer-Taylor Laboratories (GTL), Tullahoma
- HealthChart, Memphis
- Immuno Technologies, Inc., Memphis
- Pre Tel Inc., Chattanooga
- Robotic Technologies of Tennessee (RTT), Cookeville
- VenoStent, Nashville
- PurSolutions, Nashville
- VoluMetrix, Nashville
Companies receiving matching funds are required to be based in Tennessee for at least the next 24 months and commit to semi-annual reporting to LaunchTN and the State of Tennessee. To learn more, or apply for a future SBIR match funding program, visit: https://launchtn.org/entrepreneur-programs/sbir-sttr-matching-fund/.
About Launch Tennessee
Launch Tennessee is a public-private partnership that fosters entrepreneurship, with the goal of making Tennessee the most startup-friendly state in the nation. Partnering with Entrepreneur Centers in six regions and other organizations across the state, Launch Tennessee has developed a network which includes the private sector, capital sources, institutions and government. This network offers entrepreneurs what they need to build companies and create jobs in Tennessee. Visit LaunchTN.org to discover what makes Tennessee a great state for startups.