FOR IMMEDIATE RELEASE
Contact: Evan Haddad
Public Information Officer
ehaddad@goed.nv.gov (775) 684-9973
October 8, 2024
CARSON CITY, Nev. – On Oct. 4, the U.S. Small Business Administration announced that it had selected Nevada as one of six new states to win a FAST Partnership Program grant, which supports technology-driven small businesses in turning their research and development expertise into commercial products.
The Nevada Governor’s Office of Economic Development (GOED) architected the grant application, which builds upon the Sierra Accelerator for Growth and Entrepreneurship (SAGE), a statewide program housed at the University of Nevada, Las Vegas and the University of Nevada, Reno. This is the first time that Nevada has won a FAST grant since 2019.
SAGE aims to strengthen the technological competitiveness of highly innovative small businesses in Nevada that are seeking funding from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, often called “America’s Seed Fund.”
Nevada’s awarded proposal will be adding a dedicated SBIR proposal accelerator program developed and led by StartUpNV. In addition, technology-based small businesses will receive Phase 0 microgrants through SAGE to support their SBIR and STTR applications.
“We are immensely grateful to the SBA for selecting Nevada and to our congressional delegation for their support of our application,” said Karsten Heise, GOED’s senior director of strategic programs and innovation. “This award confirms the importance and role of how a statewide partnership serves small technology-based businesses, thereby lending vital support for our efforts building Nevada’s innovation-based economy.”
The grant comes at the right time to enhance momentum in Nevada while providing SBIR and STTR support. The SAGE program’s efforts have led to a significant increase in SBIR and STTR awards in the state, with 23 awards made in 2023, compared to 10 in 2022 and 12 in 2021.
“With support provided through this grant we are now able to add crucial components such as StartupNV’s accelerator program as well as financial SBIR application support for small tech-based businesses,” said Heise.
Prior to the submission of Nevada’s application, GOED had worked with a congressional delegation led by U.S. Senator Jacky Rosen’s staff in Washington to make the case for including FAST program funding in the Financial Services and General Government Related Agencies Appropriations Bill to the Senate Appropriations Subcommittee on Financial Services and General Government Senate Committee on Appropriations. As a result, the federal FAST program was appropriated $9 million in total funding for states, which also included language like the FAST Fix Act that Senator Rosen cosponsored in 2021, and which prioritized applications from historically underserved states, such as Nevada.
“This funding from SBA is very timely and will allow us to continue serving highly innovative and technology-based businesses and linking them to use-inspired research developed at Nevada’s research universities. New large-scale projects reshaping the region’s innovation economy, such as the National Science Foundation South-West Sustainability Innovation Engine, will particularly benefit,” said Zach Miles, senior associate vice president for economic development at UNLV. “In Las Vegas, we love doubling down on success.”
“StartUpNV is proud to be part of this grant effort that will remove barriers, educate entrepreneurs, and introduce them to subject matter experts who can guide them through every step of the application process for SBIR and STTR funding from the U.S. Small Business Administration,” said Jeff Saling, executive director of StartUpNV. “The program represents a true public-private-partnership that will provide tech companies with the resources they need to start and grow in Nevada, and ultimately contribute to the diversification of our state’s economy.”
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About SAGE
The Sierra Accelerator for Growth and Entrepreneurship (SAGE) supports for-profit, Nevada-based businesses that focus on technology-driven research and development to create commercialized products. SAGE assists these businesses through Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. This statewide program is offered through the University of Nevada, Reno and the University of Nevada, Las Vegas, with funding provided by the Nevada Governor’s Office of Economic Development.
About FAST
In FY 2024, $9 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. Additional information can be found here.
About SBIR/STTR
SBA coordinates the SBIR/STTR programs, known as America’s Seed Fund across the eleven participating federal agencies. Over $4 billion in early-stage seed capital is provided annually through over 6,000 awards to more than 4,000 small businesses. Federal agencies announce funding opportunities as either grants or contracts to address their research and development needs. Companies supported by the Americas Seed Fund often generate some of the most important breakthroughs each year in the U.S. Additional information about the programs, as well as past and current topics can be found here.
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.