SBIR Companies - Don't Overlook State & Local Matching Funds

     In a recent article we discussed SBIR/STTR TABA funding.  Additional funding resources that many SBIR companies may not be aware of include state and local matching funds.  There are a number of states or jurisdictions that offer matching funds to small businesses that receive SBIR or STTR awards.  The National Institutes of Health (NIH) and the Small Business Administration (SBA) have compiled lists of some of the states and we have posted links to those lists on our GovCon SBIR Hub web page.  The NIH and SBA lists are not exhaustive, however.  For example, neither include two matching funds that are offered in the State of Maryland - one by Montgomery County, MD and one by TEDCO (also linked on our GovCon SBIR HUB web page).

     State and local matching funds typically are limited and may be tied to certain eligibility requirements.  For example, the TEDCO grants are capped at 25% or $25K (whichever is less) for Phase 1 awards and 25% or $75K (whichever is less) for Phase II awards, and over half of the applicant' s workforce must work in that state of Maryland.

     Like TABA, local matching funds could provide SBIR companies with cash flow to cover badly needed services, so SBIR companies should explore whether these funding opportunities are available in their states and local jurisdictions.

     For more firm resources related to the SBA's SBIR and STTR Program feel free to visit our GovCon SBIR HUB web page.