BOSTON — Today, the Executive Office of Economic Development and MassVentures announced that 26 companies will receive $4.5 million in grant funding through MassVentures’ SBIR Targeted Technologies (START) Grant Program. Launched in 2012, the program helps startups convert research developed under SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) contracts into viable businesses and jobs in Massachusetts.
This year, MassVentures expanded the program by increasing the number of grants awarded from 17 to 25 and awarding an additional $1.5 million.
The START program offers $100,000 to $500,000 in non-dilutive funds to companies that receive a Phase 2 SBIR or STTR award. START grants fill an important gap by covering activities that are crucial for business growth but not included in federal research grants like marketing, business development, and IP strategy. The funding supports companies across Massachusetts and across key sectors, including cleantech, biotech, advanced materials and quantum computing.
“The Healey-Driscoll Administration is dedicated to helping startups and businesses of all sizes and across all industries start, scale, and grow in Massachusetts,” said Massachusetts Interim Economic Development Secretary Ashley Stolba. “We’re excited this year’s START grants will support groundbreaking ideas in the biotech, climatetech, and AI sectors and help entrepreneurs grow their businesses here in Massachusetts.”
Full story: MassVentures Announces $4.5 Million in Grant Funding for 26 Deep Tech Startups | Mass.gov
