By : Prairie Business Magazine
Source : http://www.prairiebizmag.com
Category : Small Business Grant
South Dakota businesses have a new resource to help them secure federal funding for research and development activities.
The South Dakota Governor’s Office of Economic Development (GOED) was recently awarded a $55,000 grant by the Small Business Administration to expand assistance available through the South Dakota Small Business Innovation Research (SBIR) Center. Funding will be used to hire graduate assistants to help South Dakota small businesses apply for federal SBIR grants.
Commissioner J. Pat Costello, GOED, said that the SBIR program has access to $2.5 billion in federal grants available annually for small business research and development projects.
“The submission process required to tap those federal research and development dollars is quite intense,” said Costello. “The graduate assistants will focus solely on helping business with the application process and proposal development making it easier for South Dakota companies to compete for federal funds.”
Through the SBIR program, small businesses can apply for grants of up to $150,000 to study the feasibility of a new business technology, product or process. If the study determines the idea feasible, then a company can apply for grants of up to $1,000,000 to build a prototype and take the new product to market. The SBIR program grants are geared toward projects that design solutions for specific federal government needs.
“The SBIR program is designed to ensure small businesses have an opportunity to be engaged in research and development initiatives that are meaningful to the federal government and the marketplace,” said Gary Archamboult, SBIR State Director.
Source : http://www.prairiebizmag.com/event/article/id/12333/group/Economy/
