Business Oregon, through the Oregon Innovation Council(Oregon InC), has opened the application period for eligible businesses to apply for matching grants if they have won a federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) award. Oregon companies that have received federal SBIR/STTR awards after January 1, 2023, can apply for Business Oregon’s SBIR/STTR Matching Grant awards.

The mission of the federal SBIR/STTR programs is to support science and technology innovation to build a strong economy. In 2023, Oregon companies were awarded nearly $54 million in federal SBIR/STTR awards, often referred to as “America’s Seed Fund.” The SBIR/STTR programs provide funding that doesn’t dilute ownership, preserving control and flexibility for entrepreneurs. Business Oregon’s SBIR/STTR Matching Grant program is designed to leverage this federal investment in innovation in Oregon, encouraging businesses to develop new technologies and grow their companies locally.

The Matching Grant program helps address gaps in the federal SBIR/STTR federal funding and supports companies trying to get their product into the marketplace. The Matching Grants can also help better position the companies for future fundraising and growth after the federal grants have completed. Earlier this year, Business Oregon awarded nearly $1 million in SBIR/STTR Matching Grants to 14 Oregon companies—leveraging over $10.8 million in federal grants that those companies received between 2022-2023.

Read more about the SBIR/STTR Matching Grant program and apply at www.oregon.gov/biz/programs/SBIR-STTR/. Applications are due by 5:00 p.m. Pacific Time on Monday, October 21, 2024.

Media Contact: Amber Nabors, amber.nabors@biz.oregon.gov