Small Business Innovation Research Program Provides Seed Funding for R&D
St. Louis, MO, Jun 9, 2017 – Arch Innotek has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) grant for $225,000 to develop new platform for aroma compounds production
High quality aroma compunds have a variety of applications, ranging from flavor and fragrance to cosmetics and pharmaceuticals. With the strong consumer demand for more natural alternatives to chemically synthesized ingredients in both food and personal care items, the production of these ingredients by fermentation will add a renewable source to the supply chain and will reduce demand on natural resources.
“The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.” Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
To learn more about the NSF SBIR/STTR program, visit: www.nsf.gov/SBIR.
About the National Science Foundation’s Small Business Programs: The National Science Foundation (NSF) awards nearly $190 million annually to startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, transforming scientific discovery into products and services with commercial and societal impact. The non-dilutive grants support research and development (R&D) across almost all areas of science and technology helping companies de-risk technology for commercial success. The NSF is an independent federal agency with a budget of about $7 billion that supports fundamental research and education across all fields of science and engineering.