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Federally-Funded Competitive Grant Programs Support Commercial Biotech Research
Facilitating Opportunities for Small Businesses and Diversifying the Economy with Opportunities in Bioscience are Part of the Bloomberg Administration’s Five Borough Economic Opportunity Plan
New York City, October 29, 2009 – New York City Economic Development Corporation (NYCEDC) today presents the second annual Small Business Innovative Research (SBIR) Proposal Workshop for New York City-based life science companies that aims to assist small bioscience companies and academic faculty interested in research and commercial development to qualify for Federal SBIR and Small Business Technology Transfer (STTR) grant proposals. SBIR and STTR programs provide $2.5 billion in Federal funding for technology research annually. Deputy Mayor for Economic Development Robert C. Lieber provided welcoming remarks at the single-day workshop held at Weill Cornell Medical College.
“Growing emerging industries like the life science and bioscience sectors are critical to diversifying our economy and setting the stage for job creation in the future,” said Deputy Mayor Lieber. “Now more than ever, we need to help small and innovative businesses identify and access every funding resource available to encourage additional growth in the sector, and today’s workshop is an important step towards reaching that goal.”
Eleven Federal agencies participate in the SBIR program including the National Institutes of Health (NIH) and Department of Defense. The SBIR Workshop will provide companies seeking funding for research and development with detailed instruction on proposal preparation, submission procedures, and core principles of preparing successful SBIR/STTR grant proposals.
“Addressing the needs of New York City-based life science companies means not only providing access to funding and 21st Century laboratory space, but also access to informational resources,” said NYCEDC President Seth W. Pinsky. “We view the SBIR workshops as an important complement to the Bloomberg Administration’s efforts to strengthen New York’s bioscience sector and retain the scientific and commercial innovations it produces each year.”
Information will also be provided on alternative funding sources and incentives available to New York City-based companies. Programs covered include New York State Qualified Emerging Technology Company (QETC) tax credits and the Empire Zone program, New York State Foundation for Science, Technology and Innovation (NYSTAR) funding programs, the New York City Biotech Tax Credit, and the BioAccelerateNYC Competition, the first citywide competition targeting commercialization of the extensive biomedical research conducted in the City.
ABOUT SBIR AND STTR PROGRAMS The U.S. Small Business Administration (SBA) Office of Technology administers the Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program. Through these two competitive programs, SBA ensures that the nation's small, high-tech, innovative businesses are a significant part of the federal government's research and development efforts. Eleven federal departments participate in the SBIR program; five departments participate in the STTR program awarding over $2 billion to small high-tech businesses. For more information about the Federal SBIR/STTR program, please visit: www.sbir.gov.
About NYCEDCNew York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook to learn more about NYCEDC projects and initiatives.
About the Five Borough Economic Opportunity PlanThe Five Borough Economic Opportunity Plan is a comprehensive strategy to bring New York City through the current economic downturn as fast as possible. It focuses on three major areas: creating jobs for New Yorkers today, implementing a long-term vision for growing the city's economy, and building affordable, attractive neighborhoods in every borough. Taken together, the initiatives that the City has launched to achieve these goals will generate thousands of jobs and put New York City on a path to economic recovery and growth.