From Martin to Murfreesboro, 28 companies across Tennessee are set to receive a total of $3 million — double the amount awarded last year — from the LaunchTN SBIR/STTR Matching Fund.
More Tennessee researchers and scientists are getting a bigger boost this year toward making it to the marketplace, thanks to the LaunchTN SBIR/STTR Matching Fund. From Memphis to the Tri-Cities, 28 companies across the state are set to receive a total of $3 million — double the amount awarded last year.
For Megan O’Connor, CEO of Knoxville’s Nth Cycle, that means more time to reach milestones necessary for outside investment.
“The LaunchTN matching funds based on our National Science Foundation grant will extend our runway six months,” O’Connor said. “That’s critical time that will help put us in a better position to scale the company quickly.”
Named last year to Forbes’ “30 Under 30,” O’Connor developed a recycling process from discarded batteries and electronics, using water-bottle-size carbon nanotube filters. According to the company, the filters will lower the cost of recycling for electronics makers, and use one-tenth the energy.
At its core, the SBIR program creates jobs, helps startups buy needed equipment, and supports market expansion for tech-enabled Tennessee small businesses.
Additional companies awarded grants from the LaunchTN SBIR/STTR Matching Fund include the following:
490 BioTech; Active Energy Systems; Adaptive Technology Consulting; Branch Technology; Carbon Rivers; Cryomagnetics; Cumberland Pharmaceutical; Curie Co.; E&G Associates; Energy to Power Solutions; eSpin Technologies; FICS; Fort Defiance Industries; HEROWEAR; IQuity; LiBAMA; Millennitek; Neptune Fluid Flow Systems; Oculo Therapy; PreTel; Purist; SkyNano; Stony Creek Colors; Tetrahive Technologies; Third Dimension Technologies; Ultrasonic Technology Solutions; and VoluMetrix.