SUNY Small Business Development Center Receives $100,000 Award to Support Technology Entrepreneurs

June 17, 2015

Albany – State University of New York Chancellor Nancy L. Zimpher and Small Business Development Center State Director James King today announced that the SBDC has received a $100,000 award from the U.S. Small Business Administration to support programs for innovative, technology-driven small businesses under the Federal and State Technology (FAST) Partnership Program.

The FAST program is designed to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with an emphasis on socially and economically disadvantaged firms, helping them to compete in federally-funded research and development through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. 

“With this award, the SBDC will be able to offer needed assistance to up and coming technology entrepreneurs and firms that otherwise might not prosper in New York,” said Chancellor Zimpher. “The work of the SBDC, in partnership with SUNY campuses in every region, is an essential component of the state’s economic development mission. Congratulations to Director King and his colleagues across the state on this much-deserved award.”

“Businesses implementing technology or working in a technology-based industry face a unique set of challenges,” said Director King. “The FAST program was created to help businesses and entrepreneurs in the technology sector face these challenges and transform their ideas into viable products and services. These early stage grants often speed critical technologies to the marketplace.”

“FAST provides boots on the ground support at local levels to help entrepreneurs compete and win SBIR/STTR awards,” said John Williams, SBA’s Director of Innovation. “These programs are the largest source of non-diluted early stage funding in the world, attributing to the success of tens of thousands of firms since being established in 1982. Yet many entrepreneurs in cities and states across the country are unaware. The main goal of FAST is to increase that awareness through partnering organizations and level the playing field, especially in underrepresented areas.”

New York is one of 20 states across the country to recently be awarded $100,000 under the U.S. Small Business Administration’s FAST program.

About FAST
FAST is a competitive grants program designed to strengthen the technological competitiveness of small businesses and improve the participation of small technology firms in the innovation and commercialization of new technology. All 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and American Samoa are eligible to receive funding for providing services such as outreach and technical assistance in support of the SBIR/STTR Programs. Additional information about FAST can be found at www.sbir.gov/about-fast.

About the New York Small Business Development Center
The New York SBDC, administered by SUNY, has 24 regional service centers located throughout the New York State on SUNY, City University of New York (CUNY) and private university campuses. Since inception in 1984, the SBDC has provided small business advisement services to more than 374,000 New Yorkers. The SBDC also provides training and business research to existing business owners and entrepreneurs. SBDC clients have invested more than $5 billion in NY, impacting more than 170,000 jobs.

The SBDC is funded in part by the U.S. Small Business Administration, the State of New York, local communities, and host campuses. As a result of this leveraged support, the SBDC staff provides confidential one-on-one business advisement services at no direct cost to the citizens and entrepreneurs of New York. For more information about the SBDC, visit www.nysbdc.org.

About America’s SBDC Program
America's SBDC Network is a partnership uniting private enterprise, government, higher education and local nonprofit economic development organizations. It is the Small Business Administration's largest partnership program, providing management and technical assistance to help Americans start, run and grow their own businesses. Learn more at www.asbdc-us.org.

About the State University of New York
The State University of New York is the largest comprehensive system of higher education in the United States, with 64 college and university campuses located within 30 miles of every home, school and business in the state. In 2015–16, SUNY served nearly 1.3 million students, including nearly 600,000 in credit-bearing courses and programs and more than 700,000 through continuing education and community outreach programs. SUNY students and faculty across the state make significant contributions to research and discovery, resulting in nearly $1 billion of externally sponsored activity each year. There are 3 million SUNY alumni worldwide, and one in three New Yorkers with a college degree is a SUNY alum. To learn more about how SUNY creates opportunity, visit www.suny.edu.


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