August 15, 2017

SBA awards CT Innovations grant for $125K

[Editor's Note: This story has been updated.]

The U.S. Small Business Administration has awarded Connecticut Innovations Inc. $125,000 to support technology-driven small businesses.

The grant provided by the Federal and State Technology (FAST) Partnership Program is one of 16 for up to $125,000 each awarded to back innovation in various states throughout the country. The FAST award project and budget periods are for 12 months, beginning Sept. 30, 2017.

FAST grants are intended to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with emphasis on fostering participation from women-owned and socially and economically disadvantaged firms and helping them to compete in other federal small business programs.

To qualify for the grants, award winners had to demonstrate how they would use the funds for such work as small business research and development assistance and technology transfer from universities to small businesses.

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