North Carolina Commerce Secretary Sharon Decker has announced that applications are now being accepted under the FY2014-2015 solicitation of the One North Carolina Small Business Matching Funds Program. This program provides funding to help small businesses develop and commercialize innovative new technologies.
Under the Matching Funds Program, the State of North Carolina will issue a matching grant of up to $50,000 to businesses that have been awarded highly competitive federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. SBIR and STTR grants are the single largest source of early stage technology development and commercialization funding for small businesses—more than $2.5 billion annually.
“These grants allow more of North Carolina’s small businesses to conduct the innovative research and technology development that is critical to the future growth of our state’s economy,” said Secretary Decker. “This program further ensures that North Carolina is well positioned to remain a top competitor in the global marketplace.”
North Carolina is among a handful of forward-thinking states with a matching program to leverage these federal funds and help homegrown businesses commercialize innovative technologies and create jobs. South Carolina, Kentucky and Virginia all modeled their programs after North Carolina’s.
Since its inception in 2006, the program has enabled nearly 200 small businesses throughout the state to create or retain more than 485 high-wage, high-skill private sector jobs; develop and commercialize hundreds of technologies in sectors such as medical devices, computer software, military technologies, energy, and textiles; generate a 9-to-1 return on the state dollar through attracting more than $85 million in external private investment and more than $73 million in follow-on federal funds; and generate more than $60 million in annual sales directly related to the products and services developed and commercialized with state matching support. Profiles of some of the small businesses that have benefited from the program can be found at http://www.nccommerce.com/sti/grant-programs/one-nc-small-business-prog…
The North Carolina Board of Science, Technology & Innovation administers these grants. The 2014-15 Solicitation for the Program as well as program information, application instructions, and supporting materials are posted on the Board’s website at www.nccommerce.com/sti