First Flight’s 2025 Federal and State Technology (FAST) Program
First Flight Venture Center (First Flight), the 33 year-old Research Triangle Park-based science incubator for North Carolina entrepreneurs, is pleased to announce that it has been awarded a $125,000 grant from the U.S. Small Business Administration’s (SBA) Federal and State Technology (FAST) Partnership Program for the seventh year in a row. As one of only 44 recipient organizations recognized nationwide by the SBA to provide support to science focused entrepreneurs and startups, particularly those in underserved communities, First Flight is part of an elite group selected to be awarded over $5.4 million in total funding.
FIRST FLIGHT SBA FAST GRANT RENEWED TO CONTINUE WORK IN 2024-25, THE 7TH YEAR IN A ROW!
First Flight will implement its 2024-25 grant from the U.S. Small Business Administration (SBA), Office of Innovation and Technology, Federal and State Technology (FAST) Partnership Program. FAST seeks to improve outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs for underserved communities by increasing participation from women-owned, rural-based, and socially economically disadvantaged small businesses.
Over 2024-25, First Flight and a nationally recognized grant-writing/management firm with expertise in the SBIR/STTR program, Eva Garland Consulting (EGC), along with other partners and sponsors will implement:
2024/25 FAST PROGRAM EVENTS
(MORE DETAILS TO COME):
1 SBIR/STTR Education Seminar – Half day seminar includes: Overview of SBIR/STTR program, agency specific considerations, eligibility, grant ready checklist, required registrations, proposal components, keys to a competitive proposal, award process, and grant award management.
How to Get Funded by the DoD workshop(s) Information will be divided into several sessions throughout the year at the Boot Camp, SBIR Celebration Summit and/or 1 half day workshop. NC companies statewide will receive valuable insights to understand the mechanics and processes around what it takes to obtain DoD funding through various funding mechanisms available. Topics include: Making Sense of the DoD budget; Pathways to funding resources (SBIR/STTR, OTA, etc.); DoD grant submissions- a different animal than NSF/NIH; How to transition life science technology to DoD; Correlate submissions to budget cycle. Additional Department of Defense panel presentations will occur in September 2024 presented by consultants and others that assist companies with DoD proposal preparation.
MAY 1 - 2, 2025 - 2024 FAST SBIR/STTR Boot Camp: 35 science-focused startup companies will again be selected for a cohort to attend a 2 Day training program to receive strategic guidance matching company’s technology to appropriate agency, targeted support to submit a competitive Phase I SBIR/STTR application during the 2023 calendar year and business coaching from “Startup Advisors” serial entrepreneurs, investors and SBIR grant writing experts. FAST PLUS =21 selected companies will receive an additional 5-13 hours of 1-1 grant writing support post Boot Camp. Panel presentations will also be incorporated around how to obtain funding from the Department of Defense.
“Propeller” program cohort for 6 Women-Owned Companies: An application selection process will yield a 6 women-owned life sciences company cohort, all SBIR/STTR prospects. 6-week action oriented, outcome driven curriculum results in solid business plan to secure early-stage funding, dynamic interaction with peers to push founders to identify best path forward for commercialization success and define/express the business value of their idea. Learn more about Propeller here.
Investor focused panels: Investor-related Panel will be presented 3 times during the grant period: an independent session, at Boot Camp and NC SBIR Celebration Summit. Sources of funding are critical to a startup's ability to progress through different stages of research, development and commercialization. These panels of angel, non-dilutive funding and venture capital funders will cover a range of revenue/grant options related to all stages of a company’s development; the advantages and consequences of each and factors that impact the best choices. Discussion will also include challenges presented to minority/women owned early-stage companies. Experts who have "been there done that" in non-dilutive funding, the angel investing, and venture capital arenas will share their “insider” knowledge.
Program Manager Panel presentations/workshops (especially National Science Foundation and National Institutes of Health): We will host two workshops (1-2 hrs each) with Program Manager guest speakers from NSF and NIH, the predominant agencies that NC life sciences companies engage with. Content includes mistakes commonly made in grant submissions, “do’s and don’ts” from their perspective, priority funding and what is unique about their agency.
NC SBIR Celebration Summit – Highlighting Success, Sharing Best Practices : A half day event featuring SBIR/STTR winning companies, education sessions and stakeholder presentations. The Summit will support a diverse portfolio of startups and small businesses across technology areas and markets to increase SBIR/STTR wins in NC. This event will feature a series of panels with SBIR winning companies sharing lessons learned; investors sharing insights on how to successfully raise capital, SBIR Program Managers from 4 agencies, expert service providers and more, September 2024.
Thank You to our 2024-2025 FAST Sponsors!
