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KY Announces New Funding to Help Small High-Tech Companies

By wmadministrator

Kentucky’s state government has launched a new round of funding for its highly successful Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants, a matching fund program that is unique to Kentucky.
“This means that small, high-tech companies in Kentucky, and those who are looking to relocate to our state, can potentially double their federal grant awards,” Gov. Steve Beshear said. “We’ve already seen the positive results of this program with more than $7 million awarded to 31 companies.”

One such company, Transposagen Biopharmaceuticals, relocated this year from Philadelphia to Lexington after receiving a $1.3 million federal SBIR grant and $1 million in matching funds from Kentucky.

“In economically difficult times like we face today, Kentucky must seek a more diverse workforce and the companies that bring these jobs here,” Beshear said. Beshear noted that companies like Alltech, with its recently opened Center for Animal Nutrigenomics, Kentucky BioProcessing in Owensboro, Coldstream Laboratories, Advanced Cancer Therapeutics and Scout Diagnostics are prime examples of how Kentucky can move forward in the bio-tech field.

More information about Kentucky’s SBIR-STTR Matching Funds is available a www.ThinkKentucky.com/dci/sbir1.