TEDCO has been awarded $125,000 by the U.S. Small Business Administration through its Federal and State Technology Partnership Program. TEDCO is one of 44 recipients to receive the award, which will support TEDCO’s SBIR/STTR Proposal Lab.
FAST funding exists to improve outcomes for women-owned, rural-based, and small disadvantaged businesses in the Small Business Innovation Research and Small Business Technology Transfer Programs by increasing their participation.
Utilizing FAST funds, TEDCO helps prepare these small research and development firms to compete in the SBIR/STTR Program, which provided more than $4 billion in non-dilutive, early-stage seed capital in 2022.
With the FAST grant, the TEDCO team will continue to offer the Maryland SBIR/STTR Proposal Lab, developed with the goal of improving proposal quality, submission rates, and win rates for women-owned, rural-based, and small disadvantaged businesses.
The Maryland Proposal Lab has an established track record of doubling the award rate of Phase I SBIR/STTR applications through a series of training workshops, mentoring, expert proposal reviews, and targeted consulting culminating in proposal submission.
“We know that SBIR/STTR awards can be game changers for our underrepresented businesses, and we thank the SBA for creating this award and recognizing TEDCO’s role in helping qualifying businesses with their award submissions,” said Troy LeMaile-Stovall, TEDCO’s CEO. “The SBA’s FAST grant award closely aligns with TEDCO’s mission to foster an inclusive and entrepreneurial innovation ecosystem here in Maryland.”