Microscopy Innovations receives additional funding
For Hub City Times
MADISON — Six small high-tech businesses in Wisconsin will receive up to $75,000 each to commercialize their innovations, thanks to the SBIR Advance program’s latest round of funding.
SBIR Advance, the Wisconsin matching grant program, provides assistance to companies in the process of completing federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs. This is the ninth round of SBIR Advance funding since this collaboration by the Wisconsin Economic Development Corporation and the University of Wisconsin-Extension’s Center for Technology Commercialization began in 2014.
Since then, 56 awards have been given, equaling $4.15 million throughout the state. Those businesses reported hiring more than 173 employees and obtaining $16.5 million in additional capital since receiving the grants.
The recipients of SBIR Advance funding are Microscopy Innovations LLC of Marshfield, GoDx Inc and Proteovista LLC of Madison, Stem Pharm of Fitchburg, Imagen Energy of Milwaukee, and Photonic Cleaning Technologies of Platteville.
The U.S. government created SBIR and STTR programs to stimulate domestic high-tech innovation, providing $2.5 billion in federal research funding each year. Because those funds cannot be used for commercialization activities, the SBIR Advance program fills the gap. Funds can be used to pursue market research, customer validation, intellectual property work or other areas that speed commercialization.
For more details on the SBIR Advance program, visit wisconsinsbir.org/content/sbir-advance-matching-grant or contact Program Manager Todd Strother at email@example.com.