Oregon BEST Wins 3rd Consecutive FAST Grant

The $100,000 grant will be used to help small businesses win federal funds

PORTLAND, Ore. – Oregon BEST has been awarded a third consecutive grant from the U.S. Small Business Administration (SBA) that supports programs for innovative, technology-driven small businesses under the SBA’s Federal and State Technology (FAST) Partnership Program.

Oregon BEST is one of only 20 economic development agencies, business development centers, and colleges and universities in the U.S. to receive the $100,000 grants.

"It's an honor to be selected again for this level of funding," said Ken Vaughn, Director of Commercialization Programs at Oregon BEST. "Not only does it recognize our ongoing efforts to build Oregon's clean technology economy, it also will allow us to support an even wider range of small Oregon businesses as they apply for federal funds."

The latest grant will enable Oregon BEST to work even more closely with small businesses throughout the state as they apply for the more than $2.5 billion federal dollars available from 11 federal agencies through the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program.

Using the two previous FAST grants, Oregon BEST designed its SBIR/STTR Support Center, which helps qualifying small businesses with feasibility assessments, grant writing, technical review, business plan consulting, and more. Oregon BEST has also hosted statewide meetings and outreach events to inform businesses about the availability of federal SBIR/STRR funds. The past grants also helped develop Oregon BEST's Entrepreneurs-in-Residence program, which offers mentoring to business owners and other support.

The outreach efforts are paying off, with more than 50 companies applying to Oregon BEST for SBIR/STTR assistance so far, and three of the 14 SBIR/STTR grant proposals submitted being funded for a total of $425,000 in support.

On August 20, the national SBIR/STTR Road Tour will make a stop in Portland to offer interested companies an in-depth understanding of many of the agencies' technology funding priorities, and one-on-one meetings with high-level program managers.