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Launch Tennessee Awards $7 Million in Matching Funds To Over 40 TN Businesses

Launch Tennessee Awards $7 Million in Matching Funds To Over 40 TN Businesses

Each company received an initial federal SBIR grant to power innovation across Tennessee

NASHVILLE, TN – September 15, 2021 – Launch Tennessee (LaunchTN) announced their newest SBIR/STTR Matching Fund grant recipients today and the list is notable. The SBIR/STTR Matching Fund is a strategic initiative developed and administered by LaunchTN to advance the commercialization of technology innovation and job creation across the state. The grant program is in its fourth year and has truly been the catalyst for fueling the growth of many Tennessee high-tech, high-wage companies.

Due to the reallocation of $7 million in funding for the SBIR/STTR Matching Fund from Governor Lee and the Tennessee General Assembly, we were able to match and support 44 startups driving innovative technologies from all across the state. To date, companies awarded SBIR/STTR Matching Funds have created over 505 direct jobs and brought in $146,125,214 in economic impact to Tennessee – for a return of $11.24 for every $1 public dollar invested into the program. 

“We are confident these companies are building technologies capable of changing the world, and we are excited to support them in their innovation efforts here at home to ensure we have a brighter and more competitive Tennessee tomorrow,” shares Charles Layne, Innovation Manager at LaunchTN. 

Each company had to contribute to the overall economic development of Tennessee and aid in LaunchTN’s mission to support entrepreneurship and innovation across the state. With over 80 applications received this year (more than the last three program years combined), applications were prioritized if the company was commercializing technology in the life sciences/biotech, advanced energy/cleantech, agtech, or automotive/mobility industry. In addition, if the company was located in Tier 3 and 4 counties or Opportunity Zones, and if the company was either female-owned, minority-owned, veteran-owned, or owned by those with disabilities as per FY22 SBIR Matching Fund Guidelines.

The range of industries is impressive, including a 66% increase in total Memphis awardees since program inception plus, two-thirds of recipients had diverse leadership teams.

SBIR/STTR Grant Recipients (confirmed companies receiving the award so far this year):

 

  • LiBAMA – Cookeville
  • SkyNano LLC – Knoxville
  • Qardian Labs, LLC – Knoxville
  • Grid Fruit, LLC – Knoxville
  • Very Real Help, Inc – Nashville
  • HeroWear, LLC – Nashville
  • IDBiologics, Inc. – Nashville
  • Xtallized Intelligence, Inc. – Nashville
  • Stony Creek Colors – Springfield
  • Assured Bio Labs, LLC – Oak Ridge
  • Branch Technology – Chattanooga
  • mobius – Lenoir City
  • Tetrahive Technologies – Brentwood
  • Virtuoso Surgical, Inc – Nashville
  • Yaya Scientific, LLC – Nashville
  • ARMS Cyber Defense, Inc. – Brentwood
  • Groundstar, LLC – Crossville
  • Couture Technologies – Gallatin
  • NeuroDyne, Inc – Germantown
  • RxBio, Inc. – Johnson City
  • Eonix LLC – Knoxville
  • American Nanotechnologies, Inc. – Knoxville
  • Winter Innovations – Knoxville
  • Eden Concepts LLC – Knoxville
  • Phelps2020, Inc. – Knoxville
  • NellOne Therapeutics Inc. – Knoxville
  • RenTec LLC – Maryville
  • Immuno Technologies, Inc. – Memphis
  • OculoTherapy, LLC – Memphis
  • SEAK Therapeutics LLC – Memphis
  • Healing Innovations – Nashville
  • Addiguru, LLC – relocating to Oak Ridge
  • Preteckt Inc – Memphis
  • Active Energy Systems, Inc. – Knoxville
  • Lux Semiconductors – Knoxville
  • Ultrasonic Technology Solutions – Knoxville
  • Muzology, LLC – Nashville
  • Daxor Corporation – Oak Ridge
  • IQuity Labs, Inc. – Nashville
  • Carbon Rivers LLC – Knoxville
  • Edward Buiel Consulting LLC – Chattanooga
  • PixelEXX Systems, Inc. – Maryville
  • Endeavor Composites – Knoxville
  • EndoTheia, Inc. – Nashville

We look forward to seeing how this group of innovative companies will push Tennessee forward this year and beyond. This also provides added value excitement for when our SBIR/STTR program applications open up next year. 

For questions about our SBIR/STTR Programs or how to get involved in the efforts LaunchTN is leading within Tennessee’s innovation ecosystem, please contact chuck@launchtn.org or visit https://launchtn.org/commercialization/.

 

About Launch Tennessee

Launch Tennessee (LaunchTN) is a public-private partnership with a vision to make Tennessee the most startup-friendly state in the nation. Our mission is to empower a high-functioning network of resources focused on core priorities that support Tennessee’s entrepreneurial ecosystem. Through our network of Entrepreneur Centers and partner organizations across the state, Launch Tennessee fosters collaboration among entrepreneurs, the private sector, capital sources, institutions and government to offer entrepreneurs what they need to succeed and stay in Tennessee to build companies and create jobs.

 

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