The Wisconsin Economic Development Corporation (WEDC) and the Center for Technology Commercialization (CTC) have awarded seven SBIR Advance grants, six to Madison startups, the organizations announced today.
The state matching grant program will provide up to $75,000 to SBIR/STTR recipients systeMECH, Xylome, Regenerative Medical Solutions, Glucan Biorenewables, Amebegone and C-Motive Technologies of Madison, as well as V-Glass of Pewaukee.
“We often see companies receiving SBIR grants that have made great progress on the technical side but have critical business development milestones they simply don’t have a way to fund,” WEDC Vice President of Entrepreneurship and Innovation Aaron Hagar said in a statement. “Potential investors and customers want to see progress beyond what the federal grants can provide, and SBIR Advance helps to close that critical gap.”
SBIR/STTR funds may not be used for commercialization activities. According to a release, SBIR Advance grant recipients receive CTC staff support and consulting throughout the commercialization process.
Since 2014, WEDC and CTC have awarded more than $3.6 million to 37 companies throughout the state.