ASBTDC Wins FAST Support for High-Tech Business Assistance
June 26th, 2014 by Gwen Green
For the fifth consecutive year, the Arkansas Small Business and Technology Development Center has won a Federal and State Technology (FAST) program grant from the Small Business Administration for outreach and technical assistance to innovative, technology-driven small businesses. SBA announced the 22 awards totaling $2 million today.
Eligible applicants, limited to one per state or territory, included state and local economic development agencies, colleges and universities and Small Business Development Centers. Governor Mike Beebe endorsed ASBTDC as the state’s applicant.
The FAST program is designed to stimulate economic development among small, high-technology businesses through federally funded innovation programs like Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). The sister programs fund business and product strategies that meet federal research and development needs.
“SBIR and STTR represent an important funding source for Arkansas scientists and researchers wanting to commercialize their cutting-edge work,” said ASBTDC State Director Janet Roderick. “Through SBIR/STTR, the federal government annually invests $2 billion in small businesses. We want to see more of those dollars flowing to Arkansas-based companies so they can grow and create jobs.”
ASBTDC previously received FAST awards in 2013, 2012, 2011, 2010, 2007 and 2004.
To learn more about the services offered and the companies assisted with earlier FAST funding, see FAST Assistance in Arkansas 2014 (PDF).