Once again, Pennsylvania's Innovation Partnership (IPart) has scored funding in a challenging environment, in order to “assure Pennsylvania's small technology companies that its programs will continue to assist them in generating winning, fundable federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) proposals.”
Director Kelly Wylam says that IPart secured a $95,000 Federal State and Technology Partnership (FAST) grant from the U.S. Small Business Administration. The funds were contingent on successfully raising a dollar-for-dollar match from the IPart membership: Ben Franklin Technology Partners, University City Science Center, Life Sciences Greenhouse of Central PA, Pittsburgh Life Sciences Greenhouse, Pennsylvania Small Business Development Centers, Pennsylvania State University, Pennsylvania State University School of Medicine, BioStrategy Partners, the Innovation Transfer Network, Ben Franklin Venture Investment Forum, Drexel University and Temple University.
With $190,000 in hand for the 2013-14 fiscal year, Wylam says that IPart can provide training, assistance and review of proposals and micro vouchers and micro grants to help small companies defray the costs of preparing winning proposals.
The potential return-on-investment is high. Wylam notes that in fiscal 2012-13, IPart assisted about 25 companies, two of whom have already received phase 1 federal awards of $250,000 each. Subsequent phases offer money in the millions. Since IPart's inception in 2003, the program, administered by the Ben Franklin Technology Partners, has conducted 505 technical reviews and 92 SBIR/STTR federal awards have been granted, totaling over $25 million.
Despite a drop in federal/state funding, Wylam says, “we have not missed a beat here.” For a very small amount of money, she adds, “We're helping [Pennsylvania's tech startups] have a better chance of winning these dollars and moving their technologies forward.”
Source: Kelly Wylam, IPart
Writer: Elise Vider