RALEIGH — North Carolina Commerce Secretary John E. Skvarla III announced applications are now being accepted for the Fiscal Year 2015-2016 One North Carolina Small Business Matching Funds Program. The program provides funding to help small businesses develop and commercialize innovative new technologies.
Under the program, the state of North Carolina will provide matching grants of up to $50,000 to North Carolina businesses which have received either federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grant awards. SBIR/STTR grants are the single largest source of early stage technology development and commercialization funding for small businesses, providing approximately $2.5 billion annually, according to the U.S. Small Business Administration.
“Many of the most game-changing innovations take place at small and entrepreneurial environments,” said Skvarla. “The One North Carolina Small Business program is part of our strategy for moving North Carolina-born technologies into the global marketplace more quickly, which facilitates small-business job growth across the state.”
North Carolina is among a handful of business-friendly states with a matching program to leverage federal funds and help homegrown businesses commercialize innovative technologies and create jobs. South Carolina, Kentucky and Virginia have modeled similar offerings after North Carolina’s program.
Since 2013, the One North Carolina Small Business Matching Funds Program has awarded 51 grants to small firms, totaling nearly $2.5 million. These awards have gone to small businesses throughout the state in a diverse array of technology-intensive industries. Profiles of several small businesses that have benefited from the program may be found at http://www.nccommerce.com/sti/grant-programs/one-nc-small-business-program/grantee-profiles.
NC Commerce’s Science, Technology & Innovation staff administers the program. The 2015-16 solicitation for One North Carolina Small Business Matching Funds, as well as program information, application instructions and supporting materials are posted at www.nccommerce.com/sti.