WASHINGTON – The U.S. Small Business Administration has granted up to $125,000 awards in FY 2017 to 16 Federal and State Technology (FAST) Partnership Program recipients including state and local economic development entities, small business development centers, colleges and universities and up to $200,000 awards to five Small Business Technology Development Centers (SBTDCs) that provide support to innovative, technology-driven small businesses.

FAST is designed to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with a particular emphasis on fostering participation from women-owned and socially and economically disadvantaged firms, helping them to compete in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs.

“SBA is looking forward to working with these organizations to increase the understanding of the SBIR, STTR programs,” Administrator Linda McMahon said. “FAST partners fill an important role on the state level, providing training, financial and technical assistance for small, advanced technology businesses, by helping them navigate federally-funded innovation and R and D programs.”

One of the recipients of the FY 2017 FAST awards is the Board of Regents of the University of Oklahoma Office of Research Services.

FAST funding awardees must demonstrate how they will help support areas such as:

* small business research and development assistance,

* technology transfer from universities to small businesses,

* technological diffusion of innovation benefiting small businesses,

* proposal development and mentoring for small businesses applying for SBIR grants; and,

* commercializing technology developed through SBIR grants.

Candidates were endorsed by each of their state and territorial governors, as each state may submit only one proposal. After evaluations were made by panels from SBA, the Department of Defense and the National Science Foundation jointly reviewed panel recommendations and made FAST awards based upon the merits of each proposal. Varying levels of matching funds were required, based on the number of SBIR awards in the state or territory of each economic development agency. The FAST award project and budget periods are for 12 months, beginning Sept. 30, 2017.

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