The New Jersey Commission on Science, Innovation, and Technology (CSIT) is opening applications Oct. 3 for the fourth round of its Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Direct Financial Assistance Program.
The initiative provides a $25,000 to $50,000 funding match to New Jersey-based companies that have received federal SBIR or STTR grants.
CSIT has awarded just under $2 million in funding to 66 Garden State companies in its three prior rounds. The fourth round will offer $1 million in grants to Jersey small businesses in two program components:
- Direct funding: will provide $25,000 grants to up to 20 small businesses that have received a federal SBIR/STTR Phase 1, Fast-Track, or Direct to Phase II contract.
- Bridge funding: will provide $50,000 grants to up to 10 New Jersey small businesses that have successfully completed Phase I and have applied for Phase II of the federal SBIR/STTR program.
Recently appointed CSIT Chair Debbie Hart said that each New Jersey startup faces unique hurdles as it works toward commercialization, so helping these young companies succeed is at the core of the commission’s efforts.
“Our SBIR/STTR Direct Financial Assistance Program has a proven track-record of supporting startups that are vying for these federal programs by providing funding to support their operations throughout the application process and beyond,” said Hart, who also serves as president and CEO of BioNJ.
Judith Sheft, CSIT executive director, stressed that each dollar awarded through the program is a dollar invested directly into New Jersey’s innovation ecosystem — a priority for the Murphy Administration that has been extensively chronicled by NJBIZ.
“We continue to see incredibly high levels of interest in CSIT programs such as this one and are appreciative of Gov. Phil Murphy’s and the Legislature’s ongoing commitment to helping us support innovation-focused companies form their earliest stage,” said Sheft.
An informational webinar about the program’s application process will be held Oct. 11 at 1 p.m.
The application, which can be found here, is open until Nov. 14 at 5 p.m.