The is accepting applications for grants through the provide technical and financial support to Garden State companies.
Initially capitalized with $500,000, the New Jersey SBIR/STTR Support program has two core components: technical assistance for companies applying for federal SBIR/STTR funding and direct grant funding for businesses that are currently part of the federal program, according to the commission.
Both programs are open to American-based, for-profit small businesses with fewer than 500 employees.
The commission says the technical assistance piece of the program offers help with proposal preparation, specialized reviews, and critiques of draft proposals. The commission will also create a state SBIR/STTR one-stop website and establish an SBIR/STTR Alumni Advisory Group to provide additional support for New Jersey businesses that are applying to the federal SBIR/STTR program.
The commission says its SBIR program enables small businesses to explore their technological potential and provides incentive to profit from its commercialization. The STTR program funds cooperative R&D partnerships between small businesses and research institutions, such as universities, federal research and development centers, and nonprofit organizations.
Up to $125,000 will be provided by a matching grant fund to one New Jersey technical assistance provider per year that is applying to the Federal and State Technology Grant Program.
The program provides federal financial assistance to local organizations for outreach, technical assistance and financial assistance initiatives that increase the number of SBIR/STTR applications. Applications for this component of the program are due Jan. 13, 2020.
The second component of the New Jersey SBIR/STTR Support Program offers $375,000 in matching grants to New Jersey small businesses that have been successful in the federal SBIR/STTR programs.
The commission will award $25,000 matching grants for general business operating costs to seven businesses that have received a federal Phase I SBIR/STTR award and $50,000 bridge funding grants to four New Jersey small businesses that have completed Phase I and have applied for Phase II of the federal SBIR/STTR program. Companies can use these funds to maintain project activities and cover general operating costs. Applications for these grants are due Jan. 20, 2020.