The Colorado Small Business Development Center (SBDC), a division of the Colorado Office of Economic Development & International Trade received a $125,000 grant in support of its technology program.
The SBDC Technology Program (SBDC TechSource) provides custom fit expert consulting and applicable programs to technology businesses and advanced industry ventures across the state. Although the program assists ventures to tap into all types of funding sources, the SBDC TechSource differs from other incubators/accelerators in its focus on non-dilutive capital sources. Specialized assistance is provided for federal Small Business Innovative/TechTransfer Research grants (SBIR/STTR), State of Colorado Advanced Industry grants, federal R&D Tax Credits, the technology commercialization process, business development and growth strategies.
A major objective of this grant is to find and assist technology companies (and nascent entrepreneurs) in rural and underserved communities in Colorado.
“We are excited by the additional support we will be able to provide with this grant to innovative Colorado businesses in creating or integrating technology,” said Kelly Manning, Colorado SBDC Director. “Colorado is an innovation wellspring and we look forward to seeing what bubbles up because of this grant.”
The grant, administered by the National Small Business Association (SBA), provided funds to 24 recipients to support small business innovation and R&D commercialization.
Each of the 24 awards are for $125,000 under the Federal and State Technology (FAST) Partnership Program. Recipients include state and local economic development entities, Small Business Technology Development Centers, Women’s Business Centers, incubators, accelerators, colleges, and universities that provide support to small businesses developing and commercializing high risk technologies. Only one organization is selected in each of the awarded states.
The FAST award project and budget periods are for 12 months, beginning September 30, 2018.
About the Colorado Office of Economic Development & International Trade
The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor John Hickenlooper, we strive to advance the State’s economy through financial and technical assistance that fosters local and regional economic development activities throughout Colorado. OEDIT offers a host of programs and services tailored to support business development at every level including business retention services, business relocation services, and business funding and incentives. Our office includes the Global Business Development division; Colorado Tourism Office; Colorado Outdoor Recreation Industry Office; Colorado Creative Industries; Business Financing & Incentives division; the Colorado Small Business Development Network; Colorado Office of Film, TV & Media; the Minority Business Office; and the Colorado Innovation Network. Learn more at www.choosecolorado.com.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.