11/14/2022 (NEWARK, NJ) – The New Jersey Small Business Development Center (NJSBDC) Network has been named as a recipient of the Federal and State Technology (FAST) program’s $125,000 grant award for the State of New Jersey, which will be used to support specialized training, mentoring, and technical assistance for research and development (R&D)-focused small businesses through September of 2023.
Funded by the federal government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, the FAST program grant’s purpose is to help increase the number of SBIR/STTR proposals, leading to an increase in the number of SBIR/STTR awards for women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas, all focal areas for New Jersey under Governor Phil Murphy’s leadership. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive programs that encourage domestic small businesses to engage in Federal Research/Research and Development (R/R&D) with the potential for commercialization. Through a competitive awards-based program, SBIR and STTR enable small businesses to explore their technological potentials and provide incentive to profit from commercializing their innovations.
“We at the NJSBDC are thrilled to get this new asset to assist businesses,” said NJSBDC State Director, Kelly Brozyna. “This will be another tool for success, and we are excited to grow through our partners across the State of New Jersey.”
To amplify the FAST grant award’s impact and opportunity for New Jersey’s small businesses, the award amount is being matched by the New Jersey Commission on Science, Innovation and Technology (NJCSIT).
“The NJ Commission on Science, Innovation and Technology is thrilled that the NJSBDC network has received the FAST award, and we are proud to match this funding to support New Jersey entrepreneurs pursuing federal SBIR/STTR grant opportunities,” said Judith Sheft, Executive Director of CSIT. “Innovation-based startups face unique hurdles as they work toward commercialization, and partnering with the NJSBDC allows us to expand access to additional technical assistance resources for all New Jersey small businesses to position themselves for success, with a particular focus on reaching underserved communities, women-owned, rural-based, and socially and economically disadvantaged small businesses.”
To best leverage the award a Hub and Spoke model, designed to increase the efficient use of resources, will be utilized. A partnership between the Morris County Economic Development Corporation (MCEDC) and the NJSBDC at Fairleigh Dickinson University (NJSBDC at FDU) is one such hub and spoke. The strategic partnership will expand access and opportunities for small business counseling, support services, market research, and training to drive economic growth in Morris County.
“With a highly-skilled workforce and innovative entrepreneurial ecosystem, Morris County and our region are well-positioned to leverage the new opportunities provided through the FAST grant,” noted Craig Schlosser, Managing Director of MCEDC. “We are excited to serve as a Regional Hub, and I applaud the leadership of Kelly Brozyna and Judith Sheft for their support of research and development-focused businesses, which are key to economic growth in Morris County and across the State of New Jersey.”
NJSBDC’s upcoming event, America’s Seed Fund: Get $2 Million For Your Big Tech Idea for 0 Equity (USseedfund.eventbrite.com), on November 17, a comprehensive webinar for entrepreneurs new to the SBIR/STTR environment, and it’s collaborative event with CSIT and BioNJ, Funding and Support for Entrepreneurial Innovation in Transitional Sciences, on November 30, addressing the SBIR/STTR grant application through the National Center for Advancing Transitional Sciences (NCATS), are indicative of the value the FAST grant provides to help the NJSBDC continue servicing the NJ small business community.
For more information about the upcoming event or questions about NJSBDC, please contact: info@njsbdc.com
About FAST
Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance in support of the SBIR/STTR programs. Additional information can be found at www.sbir.gov/about-fast.
About SBIR/STTR
SBA coordinates the SBIR/STTR programs, also known as America’s Seed Fund. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the SBIR/STTR programs often generate some of the most important breakthroughs each year in the U.S. Additional information about the programs, as well as past and current topics can be found at www.sbir.gov.
About NJCSIT
In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization. For more information, visit www.njeda.com/csit
About the MCEDC
The Morris County Economic Development Corporation (MCEDC) is focused on attracting, retaining, and expanding business in Morris County. The MCEDC is a division of the Chamber and public / private partnership between the Morris County Commissioners, the Morris County Chamber of Commerce, and the business community. For more information, visit www.morriscountyedc.org
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
About America’s SBDC New Jersey (NJSBDC)
The New Jersey Small Business Development Centers network, one of the first pilot projects in the nation, has provided comprehensive services and programs for small business in New Jersey for 45 years; SBDC experts help businesses expand their operations, manage their growth, or start new ventures. Expert staff and practicing business consultants help small business owners and entrepreneurs to develop business plans, find financing, accounting, and financial analysis, identify new markets, initiate marketing strategies, find procurement and international trade opportunities, learn green sustainability practices, commercialize technology and develop an E-commerce presence. This non-profit network, a federal-state-educational partnership, leverages funding from the U.S. Small Business Administration (SBA), the N.J. Business Action Center, the educational institutions that host the 11 regional centers as well as other private sponsorships and additional private/public grants. The NJSBDC State Office, located at the Rutgers Business School in Newark, NJ, oversees the network which is an accredited member of America’s SBDC. Approximately 1,000 centers and satellite offices serve small businesses across the country, generating jobs and economic development. For more information, visit www.njsbdc.com
