Elevate Vermont is a technology-based economic development program designed to catalyze growth in Vermont’s high tech business sector through increased access to targeted technical and research assistance. A mix of technical assistance and grant matching will be available for:
- One-on-one professional support to apply for Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants,
- Matching funds which can be used to offset costs related to commercializing a new product that cannot be supported with Federal SBIR/STTR funds, such as sales and marketing expenses, and
- Access to research institutions that can help solve product development challenges.
Technical Assistance for First-Time SBIR/STTR Applicants
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are available through the Federal government to assist companies with the basic research needed to develop their innovations into marketable products. Each year, eleven Federal agencies participate in this program, including the Department of Defense (DOD) and NASA. While the grants can be significant, up to $250,000 in Phase One funding or $1.5 million in Phase Two funding, the applications can be challenging for emerging or growing businesses to complete successfully.
A company interested in applying for SBIR/STTR funding for the first time, or a company that has applied unsuccessfully, may apply for Elevate Vermont technical assistance to work with a consultant specializing in SBIR/STTR applications, who will help you navigate the application complexities and improve your chances of success.
Eligibility Requirements:
- Headquartered in Vermont
- Completed and approved program application
Benefits:
- Overall education about the federal SBIR/STTR program
- Gain valuable feedback on proposals
- Hands-on guidance from experienced SBIR/STTR Advisors
Matching Grant
Per Act 74, passed by the Vermont Legislature and effective July 1, 2022, the Vermont Department of Economic Development offers non-competitive matching grants of up to $50,000 to support Vermont-based businesses that have received a federal SBIR (Small Business Innovation Research) or STTR (Small Business Technology Transfer) Phase I or Phase II award. These can be used to offset expenses related to launching a new product into the marketplace that cannot be supported with the Federal funds. Ex. Marketing, market research, development of sales materials, and other related costs.
Eligibility Requirements:
- For-profit business based in Vermont, with its principal place of business located in the state.
- Received a federal SBIR/STTR Phase I or Phase II award from a participating federal agency.
- The federal award must be granted prior to submission of the matching grant application.
Additional Requirements, by Award Type:
- Phase One Awardees
- Must satisfy all federal SBIR/STTR Phase One requirements.
- Must be committed to submitting a Phase Two application.
- If the business did not use ElevateVT technical assistance, it must commit to using ElevateVT technical assistance to support its Phase II application.
- Phase II Awardees
- Must satisfy all federal SBIR/STTR Phase II requirements.
- Must be actively commercializing the technology developed with federal funding.
Eligibility Restrictions:
- A business may receive only one grant per federal award.
- A business may receive up to five (5) ElevateVT matching grants over its lifetime.
- Businesses that have received more than 3 prior SBIR / STTR Phase II awards are not eligible.
Application Process
This program is not competitive. Applications are reviewed on a first-come, first-served basis, provided all eligibility requirements are met.
How to Apply
Please complete the application. Once you have submitted the application in the link you will receive an email with instructions on submitting your project proposal. You will need to submit the following via email:
- A detailed project narrative
- A project timeline with clear milestones
- A comprehensive project budget
- A copy of your Federal Award Notice / Contract
Further Instructions:
Your proposal will need to include the following: Narrative of the project describing how this funding will build off of the federally funded work and how it will set your company up for the next phase of commercialization. You must include specific outcomes. Your narrative should cover the problem you’re solving, how your solution solves the problem, and your commercialization strategy. A detailed budget showing the following: A) Personnel Expenses. B) Equipment. C) Supplies. D) External Services (be sure to list institution or Service Provider). E) Office & Other Expenses. F) Travel (may not exceed 10%). G) Grand Total (A-F). A project timeline with key milestones (project should not extend past 6 months).
Required Certifications
Applicants must certify the following as part of their application:
- At least 51% of the research described in the associated SBIR/STTR Phase II proposal will be conducted in Vermont, if awarded.
- The business will remain based in Vermont for the duration of the associated federal SBIR/STTR project.
- Matching grant funds will not support work already funded by other sources.
Award Amounts
Award decisions and amounts will be determined by the ElevateVT program team, based on the strength of the application and alignment with program goals.
If you have questions or need assistance, please contact the ElevateVT program team at nick.grimley@vermont.gov.
Industry Research Partnership Program (Application COMING SOON)
Established companies working to develop a new product line may run into specific problems or challenges that require a level of research or subject matter expertise not available in-house. These companies may apply to participate in the Elevate Vermont Industry Research Partnership Program to work with a researcher from an accredited institution with specialized expertise or substantial understanding of the type of challenge at hand. The Industry Research Partnership Program may offset the cost to pay for this researcher’s time to help you solve your development problem.
Eligibility Requirements: (Coming Soon)