Capital Region Tech Firms Receive $11M in Federal Seed Funding, 3 Startups Get First Awards
Several local startups received their first infusions of federal seed funding in fiscal 2019, pushing the Capital Region’s annual award total to $11.3 million, according to a Center for Economic Growth (CEG) analysis of U.S. Small Business Administration data.
In 2019, 13 Capital Region small businesses received a total of 26 awards under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Three of those firms were defense contractor startups that received their first SBIR grants. They were:
Stonewall Defense, Watervliet, $820,920 (Air Force, Phases I & II): For the development of a scrap metal container tracker that will include an Internet of Things (IoT) board with cellular connectivity and Global Positioning System (GPS) capabilities.
New Oracle Solutions, Albany, $99,962 (Air Force, Phase I): For “targeted research to document the scientific basis for mitigating EMI/EMP hazards to important engineering systems; and [to] create an engineering toolkit and develop a methodology to deploy the needed solutions.”
Tech Valley Sensor, Troy $149,997 (Army, Phase I): For the development of technology that will “measure and output individual raindrop characteristics including diameter, velocity and shape properties, rain drop size distribution, liquid water content, and volumetric rain rate.”
The SBIR program enables federal agencies to tap the innovation capabilities of private sector small businesses to meet governmental and military technology needs. The STTR program allows small businesses and research institutions to partner in meeting those technology demands. Awards are granted in three phases: Phase I for proof of concept work; Phase II for research and development; and Phase III for commercialization.
Other Capital Region SBIR and STTR awardees included:
- Ecolong, Slingerlands, $1,049,839 (1 SBIR award)
- Free Form Fibers, Saratoga Springs, $1,200,000 (2 SBIR awards)
- International Electronic Machines, Troy, $999,649 (1 SBIR)
- Kitware, Clifton Park, $3,830,275 (11 SBIR awards)
- Mobius Labs, Albany, $749,980 (1 SBIR award)
- My Music Machines, Schenectady, $224,382 (1 SBIR Award)
- Simmetrix, Clifton Park, $1,198,272 (1 SBIR award)
- SMART Pad, Rexford, $225,000 (1 SBIR Award)
- Vascular Vision Pharmaceutical, Wynantskill, $215,058 (1 STTR award)
- Wave CPC, Windham, $495,628 (1 SBIR Award)
CEG Technology Acceleration Solutions
As a regional technology center under the New York Manufacturing Extension Partnership program, CEG’s Business Growth Solutions unit offers a menu of technology acceleration services for Capital Region startups and established firms, including:
- Tech Scouting to search for solutions;
- Technology Driven Market Intelligence to understand markets;
- Engagement of NYSTAR Innovation Assets for testing and development;
- Design and prototyping assistance;
- Funding assistance via state and federal programs such as NYSERDA, SBIR, STTR and other funding opportunities;
- Access to labs, office space, and other facilities affiliated with Innovate 518; and
- Venture pitch coaching and opportunities via the VentureB Series.
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