First Flight Selected for the SBA’s 2022/23 FAST Award for the Fifth Consecutive Year
Breaking News - First Flight Venture Center wins 2022/23 grant from the U.S, Small Business Administration Federal and State Technology (FAST) Partnership Program - Research Triangle Park, NC - October 5, 2022
First Flight Venture Center (First Flight), the 30 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 fifth year in a row. As one of only 44 other 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.
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 2022/23 FAST Program.
“Receiving the FAST grant for the fifth year, enabling us to assist even more traditionally underserved founders, is an incredible accomplishment, of which First Flight is very proud’ explains First Flight President Krista Covey. ‘The FAST Award allows First Flight to build upon its SBIR/STTR education/training programs to increase non-dilutive funding for sciences and technology companies through programs and events like our impactful grant readiness “Boot Camp”, our SBIR/STTR Funding Summit, a Department of Defense-focused workshop, and so many others.'”
First Flight will be launching the new FAST program activities in October, 2022 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.
“When we enable equitable access to federal research funding, we empower more of our nation’s entrepreneurs and scientists to translate their cutting-edge ideas into commercial enterprises,’ explained SBA Administrator Isabella Guzman. ‘This is why doubling our funding of FAST grants and expanding the network of awardees is so critical to building a stronger and more inclusive innovation economy that invests in all of our communities.’”
First Flight is grateful to our FAST partners and sponsors, including Eva Garland Consulting and NC State’s Office of Research Commercialization. More information about FAST, including sponsorships and partnering with us is located at https://www.ffvcnc.org/202122-fast-program.
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 2022, $6 million was appropriated for entities to carry out activities defined under the FAST Partnership Program legislative authority. Entities from all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are eligible to receive funding to provide outreach, technical, and financial assistance. These efforts are focused on elevating and expanding the ecosystem support network that works with technology developing entrepreneurs, startups, and existing small businesses. FAST’s primary goal is to help tech entrepreneurs who have traditionally been left out of federal R&D programs by successfully applying, winning, and executing SBIR and STTR awards. Additional information can be found at www.sbir.gov/about-fast.