CHARLESTON, W.Va. — The West Virginia Small Business Development Center (WV SBDC) has launched a new specialized service called the Innovation-Technology program.
“The Innovation-Technology program – or ‘In-Tech’ for short – will provide business coaching and technical assistance to West Virginia businesses driven to become more competitive by launching a new product or service, or improving the quality of an existing product or service through technology and innovation,” WV SBDC Director Debra Martin said.
WV SBDC developed the In-Tech program to assist West Virginia small businesses to develop strategies and mitigate risks around the commercialization of new products, services, and processes.
The In-Tech Program provides services such as prototype development assistance, product evaluation, business planning, and Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) application assistance. The federal SBIR/STTR programs are among the country’s largest sources of early-stage capital for technology commercialization.
The In-Tech Program can assist West Virginia companies to apply for SBIR/STTR state matching funds through the Entrepreneurship and Innovation Investment Fund. Applications for the funding are already being accepted.
A company can apply for a SBIR/STTR Phase 0 matching grant of $2,500 only once per year after successfully submitting an SBIR or STTR proposal. The company must receive proof of receipt by the federal agency that the proposal was received during an eligible application period. The funds can be used to cover nonduplicative expenses associated with preparing a competitive proposal for accepted proposals submitted Jan. 1, 2020, or thereafter, subject to availability of funds.
Businesses who are awarded a SBIR/STTR Phase I or Phase II grant after Jan. 1, 2020, may also apply for state matching funds. Matching funds up to $100,000 for Phase I recipients and up to $200,000 for Phase II recipients may be applied for Jan. 1-31, May 1-31, and Sept. 1-30, 2020.
Eligibility requirements and restrictions apply per the application and are subject to availability of funds.
WV SBDC has named Deborah Magyar as program coordinator for the In-Tech initiative.
“Deborah has worked with organizations and led her own business in the Appalachian region for more than 25 years,” Martin said. “Her experience as a business strategist and entrepreneur will provide practical insights to encourage and assist more West Virginia businesses to apply, compete, and win more innovation and technology awards.”
For more information on the WV SBDC In-Tech program, the federal SBIR/STTR program or the state’s matching funds for SBIR/STTR awards, visit the WV SBDC website or contact Deborah Magyar, (304) 932-9760, email Deborah.S.Magyar@wv.gov.