PROVIDENCE – Four New England cities, including Providence, will host visits this summer by the SBIR Road Tour, a national outreach to publicize opportunities for entrepreneurs to apply for non-dilutive technology funding. Non-dilutive funding refers to any source of capital that doesn’t require the sale of company equity, avoiding loss of ownership/control and shareholder dilution.
Federal and state program managers representing the $2.5 billion in early-stage funding have been invited to attend a series of events alongside technology entrepreneurs and innovation supporters from across the United States.
The road tour is presented by the Small Business Innovation Research and Small Business Technology Transfer programs of the U.S. Small Business Administration.
The SBIR Road Tour will be in Providence on Aug. 22, in New Haven, Conn., on Aug. 21, in Manchester, N.H., on Aug. 23, and in Portland, Maine, on Aug. 24.
The SBIR program is a highly competitive U.S. government non-dilutive funding source, coordinated by the SBA. It is intended to encourage domestic small businesses to engage in high-growth research and development. Funding takes the form of contracts or grants. Projects that receive awards must have the potential for commercialization while meeting specific U.S. government research and development requirements.
The SBIR/STTR programs together account for more than 160,000 awards totaling about $40 billion. These awards have helped U.S. innovators advance new technologies that help make the nation more globally competitive. The SBIR/STTR programs have provided seed funding to companies focused in technology and science.
More information is located HERE.
Mary Lhowe is a PBN contributing writer.
