SBA awards $8 million to groups helping small businesses land federal funding

The U.S. Small Business Administration awarded more than $8 million in grants to 50 organizations, the agency announced Sept. 22.

The money goes through the Federal and State Technology (FAST) Partnership Program. FAST gives small businesses and startups training, mentoring and technical assistance as they compete for research and development funding through America’s Seed Fund. Each grant recipient is eligible for up to $180,000.

“America’s economic and national security depends on our ability to continue to out-innovate, out-build, and out-compete every nation in the world,” SBA Administrator Kelly Loeffler said in a statement released by the SBA.

Local help in 49 states and Puerto Rico

FAST awardees work in their own regions, offering person-to-person guidance, training and mentorship. That support helps small businesses find relevant opportunities, build competitive applications and move from research to commercialization.

Awardees will serve entrepreneurs across 49 states and Puerto Rico. The expanded footprint gives entrepreneurs outside traditional technology hubs greater access to the country’s largest source of early-stage research and development funding, according to the SBA.

Of the 50 organizations, 43 were selected for an additional year of funding and seven are new to the program. Recipients include the University of Georgia Research Foundation and the University of Alaska Fairbanks.

The funding behind the program

America’s Seed Fund includes the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The SBA describes the fund as the nation’s largest source of early-stage, non-dilutive funding for technology startups. The programs support work in defense, energy, agriculture, health sciences, biotechnology, space and other strategic industries.

“These FAST awards will help innovators across the country turn breakthrough ideas into American jobs, stronger communities, and the next generation of commercial and national-security leadership,” Loeffler said.

Small business owners can find the full list of FAST awardees in the SBA’s announcement.