A Milwaukee startup that makes proteins used in preclinical drug development and a New Berlin company that`s developing a low-cost, energy efficient power system for aircrafts, ships and electricity sources are among 10 startups in Wisconsin to receive funding from the federal government and state of Wisconsin to commercialize their inventions. Five businesses are receiving up to $100,000 each and the remaining five up to $75,000 each. Wisconsin companies are annually competing for hundreds of millions of
dollars in Small Business Innovation Research and Small Business
Technology Transfer grants issued by the U.S. government, which were
designed to help small, emerging companies fund their research and
development. Through the SBIR program, 11 federal agencies, including
the Department of Defense and National Institutes of Health, are
required to spend at least 2.8 percent of their outside R&D budgets
with emerging companies. That amounts to at least $2.5 billion and 5,000
awards a year for research into new technologies. The Wisconsin Economic Development Corp. matches grants won by Wisconsin companies through the SBIR Advance program. Since 2014, WEDC, in collaboration with Madison-based and University of Wisconsin-Extension’s Center of Technology Commercialization, has provided $6.7 million in SBIR matching-grants to 88 Wisconsin tech businesses, resulting in more than $29.5 million in added capital from investors and other federal grants for those companies... ...moreKen Notes: A rerun but more details on how WEDC supports these companies. Another reason to keep WEDC and make it better... | ||
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