Six Kentucky tech companies will receive $1.9 million in state matching funds to stimulate technological innovation in the commonwealth while fueling growth and job creation for technology-based startups and small businesses. The Kentucky grants match in part nearly $3.4 million in federal grants the businesses will collectively receive.
“SBIR/STTR funds are a vital resource for launching and growing innovative, high-tech companies here in Kentucky,” Gov. Matt Bevin said. “The commonwealth’s matching program is one of the strongest in the nation, enabling us to support early-stage companies with cutting-edge technologies. This year’s recipients exemplify the groundbreaking work currently in progress across many disciplines. We look forward to watching these companies flourish right here in Kentucky, the nation’s center of engineering and manufacturing excellence.”
The grants are part of the commonwealth’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program. The program, overseen by KY Innovation within the Kentucky Cabinet for Economic Development, matches all or part of federal SBIR/STTR awards received by Kentucky-based companies or companies that commit to relocation in the state.
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