Louisiana supports Small Business Innovative Research
The Small Business Administration provides funding and support to the Louisiana Technology Transfer Office (LTTO) at LED to promote the Federal and State Technology (FAST) Partnership Programs.
The FAST program helps increase the number of Small Business Innovative Research and Small Business Technology Transfer (SBIR/STTR) proposals leading to an increase in the number of SBIR/STTR awards from women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas – typically rural states. Learn more here.
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FAST awards build the SBIR/STTR ecosystem through:
- Outreach: increase the pipeline of SBIR/STTR applicants through training and outreach; and build the capacity of partner organizations and individuals to support SBIR/STTR applicants and existing awardees.
- Technical and business assistance: support entrepreneurs and startups through programs or services that improve proposal development and team creation; provide assistance that leads to the commercialization of technology developed through SBIR/STTR program funding; and form or encourage relevant mentoring networks to provide business advice and counseling.
- Financial support: make Phase 0 grants to applicants to help with the cost of developing SBIR/STTR proposals (Phase I and Phase II). The proceeds can be used to attend relevant conferences, hire a grant reviewer and other items that will assist in improving your application. We also help you with getting access to other programs that will help fund the company between phases: Retention Program and Research & Development tax credit.
For more information and to develop your own plan, contact Hutch McClendon at hutch.mcclendon@la.gov.