The WV Small Business Development Center (SBDC) and WVBusinessLink would like to remind any business who recently received federal SBIR/STTR funding that September 1st – 30th is one of only three windows of time annually to apply for potential State matching funds. The next funding window will be January, 2023.
This matching fund program is through the WV Entrepreneurship & Innovation Investment (EII) Fund and is managed by the WV SBDC’s Innovation-Technology (In-Tech) program.
In order to foster job creation and economic development in West Virginia, and stimulate SBIR and STTR results across the State, the West Virginia Legislature enacted WV code §5B-8-1, which initiated the EII Fund. This money is earmarked to be used by the WV Department of Economic Development, through the WV SBDC, to provide a monetary award when a business successfully submits a federal SBIR or STTR proposal and receives a Phase I or Phase II award. The amount of the State matching funds awarded is dependent on the existing balance in the EII Fund at the time of application and is typically not a 100% match.
In addition to these Phase I and Phase II award periods, businesses can also apply for a Phase 0 award upon submitting a Phase I SBIR or STTR proposal. These Phase 0 awards are distributed as a $2,500 grant and can be applied for during any month of the year.
The WV SBDC In-Tech program focuses on small technology-driven businesses in West Virginia. It helps enterprises to develop strategies and reduce risks around the commercialization of new products, services and processes. In-Tech also provides support in areas such as prototype development, product evaluation, business planning and applications to Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR).
More information about the WV Entrepreneurship & Innovation Investment Fund can be found at https://wvsbdc.com/services/technology-commercialization/. For questions about the fund, the application process, or additional ongoing SBIR/STTR support services, you are encouraged to contact the In-Tech Program Manager, Mary Hott, at [email protected] or 304-380-3279.
Mary Hott is the WV SBDC In-Tech program manager. Before joining the SBDC in 2015 as a business coach, she spent over 20 years in Boston’s high-tech business community. A native of Morgan County, she returned to West Virginia in 2006. Mary earned her M.S. in Information Systems Engineering from Northeastern University and a B.A. from The New School for Social Research in New York. She also holds a marketing certification from Harvard University Extension School and is a Certified Business Advisor (CBA®) through Kent State University.
