First Flight Announces FAST Grant Renewal
Breaking News - First Flight Venture Center wins 2021/22 grant from the U.S, Small Business Administration Federal and State Technology (FAST) Partnership Program.
Research Triangle Park, NC - September 8, 2021
First Flight Venture Center (First Flight), the Research Triangle Park-based science incubator for North Carolina’s entrepreneurs, has been awarded a $125,000 grant from the U.S. Small Business Administration’s Federal and State Technology (FAST) Partnership Program for the fourth year in a row.
Applications for the FAST program are restricted to one per state with an accompanying letter from the state’s governor. North Carolina’s governor, Roy Cooper, made the recommendation for First Flight’s proposal. First Flight is one of only 33 other recipient organizations recognized nationwide to provide support to science-focused entrepreneurs and startups developing innovative technologies.
FAST provides funding to state and/or regional organizations in order to increase the number of SBIR/STTR awards from women, socially and economically disadvantaged individuals, and businesses in underserved communities. First Flight is delighted to partner once again with Eva Garland Consulting (EGC), a nationally recognized grant-writing firm with an expertise in the SBIR/STTR program, to support First Flight’s 2021/22 FAST Program.
“Receiving the FAST grant again allows First Flight to build upon its SBIR/STTR education/training programs to increase non-dilutive funding for life sciences companies’ explains First Flight President, Krista Covey. ‘We will again host our impactful grant readiness “Boot Camp” for 35 companies and incorporate entrepreneurial education by pairing them with experienced business mentors to ensure sustainable growth and commercial success.’”
Covey continued, “Our 2021/22 FAST program incorporates new elements such as an early ideation program, Propeller, for women-owned life science companies; a women in Biotech CEO panel; Department of Defense funding opportunities workshop and conversations with SBIR Program Directors from key federal agencies such as National Science Foundation and the National Institutes of Health. Our goal is to identify gaps and bridge them with appropriate resources.”
First Flight will be launching the new FAST grant activities in October, 2021 and appreciates the opportunity to once again work with the U.S. Small Business Administration's Office of Innovation and Technology to increase funding, and positively impact economic development in North Carolina.
“Our FAST Partnership Program is designed to empower the innovation ecosystem at the local level and help underserved communities gain access to SBIR and STTR, or America’s Seed Fund -- the largest source of early-stage capital in the United States.’ Explained SBA Administrator Isabella Guzman. ’FAST’s continued growth will strengthen the national innovation ecosystem and ensure all small businesses are better positioned in this next stage of recovery to access unprecedented investments to reimagine our future economy that will be made available through the Bipartisan Infrastructure Framework and President Biden’s Build Back Better agenda.’”
First Flight is grateful to our partners for their support and implementation of the First Flight 2021/22 FAST Program:
North Carolina Biotechnology Center
Eva Garland Consulting
Duke University’s Innovation and Entrepreneurship Initiative
North Carolina Rural Center
North Carolina State University’s Office of Research Commercialization
Attivo Marketing Design
About First Flight Venture Center
First Flight Venture Center is a high-science, high-impact science- focused incubator located in the heart of Research Triangle Park, NC. Established in 1991, First Flight has hosted more than 400 plus science-focused companies, providing strategic education, tailored resources, guidance, connections and office/lab space in a 25,000 sq.ft. facility. First Flight has launched businesses that have commercialized important new science breakthroughs and disruptive technologies, while creating thousands of jobs in North Carolina. For more information, visit http://ffvcnc.org or view First Flight video.
About FAST
In FY 2021, FAST was appropriated $4 million in total funding for select entities to carry out targeted activities from September 30, 2021 thru September 29, 2022. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, and American Samoa are eligible to receive funding to provide outreach, technical, and financial assistance in support of the SBIR/STTR programs. Additional information can be found at https://www.sbir.gov/about-fast.