A new program from the Wisconsin Economic Development Corporation will use $1 million in funding toward commercializing high-tech innovation, the organization announced Thursday.
According to a release, the Center for Technology Commercialization will administer SBIR Advance, which is a matching grant available to recipients of federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants.
“SBIR Advance will fill critical funding gaps for activities such as market research and patent development restricted under federal awards that applicants already hold,” WEDC Secretary Reed Hall said in a statement. “Unlike programs in some other states, SBIR Advance will provide funding upon completion of key milestones, including Lean Startup training, which significantly accelerate business development.”
The online application process begins today.