Funds go to support and attract high-tech companies in Kentucky
FRANKFORT, Ky. (Oct. 8, 2014) – Gov. Steve Beshear announced that 21 high-tech Kentucky companies have been awarded $5.63 million as part of a program to support and attract technology-based small businesses to the commonwealth.
The companies are receiving funding through the state’s competitive Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program. Kentucky’s program matches all or part of federal SBIR-STTR awards received by Kentucky-based companies. It also provides a match to out-of-state companies, should they be willing to relocate to the Commonwealth.
“These companies are developing some of the nation’s most promising new technologies,” Beshear said. “From developing a device to treat heart disease in infants, to creating new technology enabling early detection of colon cancer, to simplifying communications for the military and first responders, Kentucky is proud to support these innovators and entrepreneurs creating high-tech businesses and high-paying jobs throughout the Commonwealth.”
Since its inception in 2006, Kentucky’s SBIR-STTR program has awarded nearly $48.6 million to support 100 companies receiving 201 grants. These 100 businesses have leveraged an additional $85.3 million in federal funds and created more than 450 new jobs. Thanks to the program, 34 companies relocated their businesses to Kentucky.
Eligible high-tech companies can apply for the federal grants in two phases. Businesses in the concept or feasibility phase can apply for Phase I funding while companies in full-scale research and development can request Phase II assistance.
Kentucky’s competitive program will match federal Phase I grants up to $150,000 and match Phase II funding up to $500,000 per year for two years.
Kentucky is the only state that matches Phase II awards at this level.
The 21 companies receiving awards since January 2014 are:
- AllTranz Inc. (Fayette County)
- Angiomics Inc. (Jefferson)
- GISMO Therapeutics Inc. (Fayette – relocated from New York)
- Gradient Engineering Inc. (TBD – relocating from Montana)
- Hummingbird Nano Inc. (Fayette)
- Info Beyond Technologies LLC (Jefferson)
- Kentucky Imaging Technologies LLC (Jefferson)
- Liberate Medical LLC (Jefferson)
- Louisville Biosciences Inc. (Jefferson)
- Mercury Data Systems Inc. (Fayette)
- Minerva Systems & Technologies LLC (Fayette)
- MosquitoMate Inc. (Fayette)
- PGXL Technologies LLC (Jefferson)
- Science Tomorrow LLC (Fayette)
- Sequela LLC (Jefferson)
- SiNode Systems (TBD – relocating from Illinois)
- Tribo Flow Separations LLC (Fayette)
- TutorGen Inc. (Kenton – relocated from Pennsylvania)
- UHV Technologies Inc. (Fayette – relocating from Texas)
- WaveTech LLC (Kenton – relocating from Ohio)
- W-Z BioTech LLC (Fayette)