Capital Region Small Businesses Receive $16M in Federal R&D Seed Funding
Capital Region tech firms received nearly $16 million in federal seed funds for R&D projects. The research projects ranged from composites for unmanned aircraft and hydrogen turbines, aerodynamic sensor tape for offshore wind turbines, and an open-source artificial intelligence software infrastructure for science that is designed for researchers, according to a Center for Economic Growth (CEG) analysis of data from the Small Business Admonition’s SBIR.gov.
In fiscal 2022, 16 Capital Region companies received 32 Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) grants totaling $15.7 million. Out of that amount, $4.2 million was for Phase I projects and $11.5 million went toward Phase II projects. In chained 2012 dollars, the region’s SBIR and STTR funding total was down 17 percent from the previous year and the lowest level in nine years.
At $7.7 million, the Department of Defense was the region’s largest provider of seed funding. It was followed by the Department of Health and Human Services at 4.0 million and Department of Energy at $1.3 million.
Examples of R&D projects that received SBIR and STTR funding in the region include:
Vistex Composites, Rotterdam ($49,956.00): Low cost composite manufacturing process for attritable aircraft
Free Form Fibers, Saratoga Springs ($250,000): Design, Modeling, and Experimental Validation for life-optimization of Hydrogen Turbine CMC Components
Intelligent Medicine, Schenectady ($250,000): A platform for simulating the combined effect of human behavior and environment on airborne infectious spread (COVID-19)
Early Alzheimer’s Diagnostics, Glenmont ($306,974): Screening for Alzheimer’s Disease Based on Raman Spectroscopy of Blood
International Electronic Machines, Troy ($199,716): Low Profile Aerodynamic Sensor Tape (LPAST) for Offshore Windmill Monitoring
TruWeather Solutions, Halfmoon ($149,943): Multipurpose Doppler Lidar Measurements
Vascular Vision Pharmaceutical, Wynantskill ($996,212): Sulfated Non-Anticoagulant Heparin Nanoparticle (VVP728) for Sickle Cell Disease Management
Maybell Quantum Industries, Prattsville ($175,000): Scaled Production of High Density Cryogenic FLexible coAXial (FLAX) RF Ribbon Cables
As a regional technology center under the New York Manufacturing Extension Partnership program, CEG’s Business Growth Solutions (BGS) unit offers a menu of support services for entrepreneurs. These include improving access to facilities, prototyping support with 3D printer services, and identifying potential investors, mentors, and resources. BGS also provides opportunities for startups to showcase business ideas through programs such as VentureB. Chamber support services for entrepreneurs include, loan programs, entrepreneur boot camps, BIPOC Business Development, and an MWBE program.
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