By Gwen Green (gagreen@ualr.edu)
Sept. 28, 2010
LITTLE ROCK, Ark. - The U.S. Small Business Administration is investing in Arkansas' innovative, technology-driven small businesses.
The Arkansas Small Business and Technology Development Center will receive $100,000 through SBA's Federal and State Technology (FAST) program for outreach and technical assistance to science and technology-based small businesses over the next 12 months. The grant is one of only 20 awarded nationally. In the highly competitive award process, each state could submit only one proposal. Eligible applicants included state and local economic development agencies, colleges and universities, and Small Business Development Centers.
The FAST funding will allow ASBTDC to expand its services and programs for Arkansas' science and technology entrepreneurs and continue to offer opportunities such as the Advanced Invention to Venture workshop, said Janet Roderick, ASBTDC state director. ASBTDC is hosting AI2V Sept. 28-Oct. 1 at the University of Arkansas at Little Rock. In collaboration with the National Collegiate Inventors and Innovators Alliance, the highly acclaimed workshop is being offered in Arkansas for only the second time. AI2V is open to the founders of high-tech start-ups interested in commercializing their technology.
"I am proud of the ASBTDC's commitment to serving the state's high-technology entrepreneurs and research community and am pleased that through the FAST grant ASBTDC will be able to extend its reach and help more innovation-based Arkansas companies grow and develop," said UALR College of Business Dean Anthony Chelte. The ASBTDC Lead Center is located in the College of Business.
FAST winners also must help socially and economically disadvantaged firms compete in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which fund business and product strategies that meet federal research and development needs.
The ASBTDC will target military veterans, minorities and women who are high-tech business owners and researchers, and host programs at two state universities that have historically been unsuccessful in receiving SBIR/STTR funding.
Over the life of the SBIR/STTR program, Arkansas ranks 41st in the nation in SBIR/STTR participation. Since SBIR's inception in 1983, Arkansas companies have won 216 SBIR/STTR awards. According to SBA data, 21 percent of the state's award winners were women-owned small businesses, and 15 percent were minority-owned businesses.
Other services ASBTDC will offer to science and high-technology entrepreneurs:
A mentoring program that will provide group and one-to-one coaching assistance to guide participants through each stage of the SBIR/STTR proposal writing process and to assist with commercial strategy development.
Online and classroom training. A new online program, "Get Ready for SBIR/STTR," will provide basic training and serve as an introduction to live training events. Four classroom training sessions will teach SBIR/STTR proposal writing techniques.
Consulting services specifically to assist in SBIR/STTR proposal submission.
A new Technology Transfer Commercialization Opportunities database to promote partnerships among UALR researchers and Arkansas high-tech businesses and manufacturers.
The FAST program is an important catalyst for helping America's cutting-edge entrepreneurs continue to drive innovation and create good jobs," said Karen G. Mills, SBA administrator
The Arkansas Small Business and Technology Development Center, a partnership of the U.S. Small Business Administration, the UALR College of Business and other institutions of higher education, serves new, existing and innovation-based small businesses through a statewide network of seven offices.
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