The FAST program provides one-year funding to organizations to execute state/regional programs that increase the number of SBIR/STTR proposals leading to an increase in the number of SBIR/STTR awards from women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas – typically rural states.
Donor Name: Small Business Administration
State: All States
County: All Counties
Territory: Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa and the Commonwealth of the Northern Mariana Islands
Type of Grant: Grant
Deadline: 06/27/2022
Size of the Grant: $125,000
Grant Duration: 12 months
Details:
The mission of SBA’s Office of Innovation & Technology, which bears responsibility for administering the FAST program, is to strengthen the technological competitiveness of small businesses across the country through coordination and oversight of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The primary mission of the FAST program is to help underrepresented entrepreneurs successfully compete for SBIR/STTR awards.
As set forth in the Small Business Act (Rev.13 p. 281) FAST awards build the SBIR/STTR ecosystem through:
- Outreach: increase the pipeline of SBIR/STTR applicants through training and outreach; and build the capacity of partner organizations and individuals to support SBIR/STTR applicants and existing awardees.
- Technical and business assistance: support entrepreneurs and startups through programs or services that improve proposal development and team creation; provide assistance that leads to the commercialization of technology developed through SBIR/STTR program funding; and form or encourage relevant mentoring networks to provide business advice and counseling.
- Financial support: make grants or loans to applicants to pay a portion or all the cost of developing SBIR/STTR proposals (Phase 0), attending relevant conferences, and bridging gaps between phases.
FAST Priorities: To ensure the full utilization of all FAST funds, it is strongly recommended that every Non-federal entity request a federal award amount that can be managed and realistically achieved within a one-year period of performance. A Non-federal entity’s technical proposal and budget should be clearly focused and targeted based on the TOP PRIORITY of increasing SBIR/STTR participation among small businesses in the Non-federal entity’s state and address the key performance measures outlined below.
Key Performance Measures:
- Reach 100% utilization of the award.
- Increase the number of eligible small business concerns in the State that participate in SBIR/STTR.
- Increase the participation of eligible underrepresented small business concerns in the SBIR/STTR.
- Increase the level of technical and business assistance available to eligible small business concerns to develop and commercialize technology through SBIR/STTR
Funding Information
- SBA expects to issue no more than $1,875,000 in total new FY 2022 FAST awards utilizing remaining funds made available by the Consolidated Appropriations Act, 2021 (PL 116-120).
- Award Ceiling: $125,000
Project Duration
The budget period is for 12 months with four (4) Non-Compete Continuation (NCC) budget periods of 12 months each. Exercise of NCC budget periods will be solely at SBA’s discretion and is subject to continuing program authority, the availability of funds, and a Non-federal entity’s continued satisfactory performance and compliance with all the terms and conditions of the award. The base and option period will constitute a separate and distinct 12-month budget period.
- Budget Year 1: September 30, 2022 – September 29, 2023
- Budget Year 2: September 30, 2023 – September 29, 2024
- Budget Year 3: September 30, 2024 – September 29, 2025
- Budget Year 4: September 30, 2025 – September 29, 2026
- Budget Year 5: September 30, 2026 – September 29, 2027
Eligibility Criteria
- County governments
- State governments
- Public and State controlled institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
- City or township governments
- Private institutions of higher education
For more information, visit Grants.gov.
