Here’s a New Year’s resolution for Garden State small businesses looking for funding: Apply for the New Jersey Commission on Science, Innovation and Technology’s grant programs.
The grants, through the New Jersey Small Business Innovation Research and Small Business Technology Transfer Support Program, have deadlines for application in January, according to the CSIT.
The program provides technical and financial support to companies pursuing SBIR and STTR funding. These federal programs provide more than $3 billion each year to small businesses in numerous tech and life sciences areas that propose innovative ideas meeting specific federal research and development needs.
“The innovation and research and development contributions coming from New Jersey’s technology and life sciences communities are both impressive and vital to the creation of groundbreaking drugs and therapies,” CSIT Chairman Gunjan Doshi said in a prepared statement. “Enabling entrepreneurs to maximize financial and educational benefits as they vie for federal funding and work toward commercialization will serve to strengthen the competitiveness of New Jersey small businesses on the national stage.”
The SBIR/STTR Support Program has two main parts: technical assistance for applicants, and direct grant funding for companies already in the program.
The CSIT provides up to $125,000 of matching grant funding each year to one New Jersey technical assistance provider applying to the Federal and State Technology Grant Program. It offers $375,000 in grants to New Jersey small businesses that have been successful in the SBIR/STTR programs, including $25,000 matching grants to seven businesses that have earned a federal Phase 1 award for general operating costs, and $50,000 bridge funding grants to four businesses that have completed Phase 1 and applied for Phase 2. These grants can be used for project activities and general operating costs.
The deadline to apply for the $125,000 program is Jan. 13, while the deadline to apply for the $375,000 program is Jan. 20. Applications are now available, and winners will be announced Feb. 21.
Click here for more information, or to apply. Programs are open to U.S.-based, for-profit small businesses with fewer than 500 employees.