CT awarded $2.3 million to help small businesses

WASHINGTON, D.C. (WTNH) — Today, U.S. Secretary of Energy Rick Perry announced that the Department of Energy will award 263 grants totaling $116 million – including 4 grants in Connecticut totaling $2.3 million.  Funded through DOE’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, today’s selections are for both Phase I and II research and development.

There are 174 Phase I grants which will allow small businesses to research technical feasibility of new innovations that advance the Department’s mission.  Phase I grants are 6-12 months in duration with a median award amount of $150,000.  In addition, 89 Phase II grants will go to prior Phase I grantees to allow them to develop novel prototypes or processes to validate their Phase I research findings. Up to 2 years in duration, Phase II grants have a median award amount of $1 million.

Small businesses play a major role in spurring innovation, creating jobs, and boosting the U.S. economy.  The SBIR and STTR programs were created by Congress to leverage small businesses to advance innovation at federal agencies.

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