Welcome Visitor Tuesday, May 21, 2024
State-backed LaunchTN Awards $7MM in matching funds to 37 TN firms
Comment Print

Launch Tennessee (LaunchTN) today unveiled the full list of this year's SBIR/STTR Matching Fund grant recipients. Developed and administered by LaunchTN, the SBIR/STTR Matching Fund is a strategic initiative to advance the commercialization of technology innovation and job creation across the state. The grant program, now in its sixth year, has been a significant catalyst for the growth of many Tennessee early stage, high-tech, high-wage companies. To date, 56% of companies receiving SBIR/STTR matching funds have achieved post revenue status, a significant indicator of success for startup companies. Collectively, these companies have generated more than $100M in annual revenue.

To date, Tennessee companies awarded SBIR/STTR Matching Funds have created over 650 direct jobs and have leveraged matching funds to raise over $127M in follow-on investment capital while securing an additional $169M in federal contracts.

"We are thrilled to award this match funding to some of our most exciting Tennessee entrepreneurs and innovators" said Charles Layne, Innovation Manager, LaunchTN. "We thank Governor Lee and the Tennessee General Assembly for their continued investment in this vital program and look forward to the innovation and new technologies these companies will bring to our state that will benefit all Tennesseans."

Launch Tennessee was legislated into existence in 1997, chartered by law as Tennessee Technology Development Corporation, or TTDC. It functions as a nonprofit public-private partnership as part of the state's Department of Economic and Community Development. LaunchTN CEO: Lindsey Cox. ECD Commissioner: Stuart McWhorter.

Launch Tennessee received more than 60 applications to the SBIR/STTR Matching Fund this year, accounting for over $12M in program demand. Applications were prioritized if the company was a first time SBIR/STTR awardee or applicant to the SBIR/STTR Matching Fund as well as if the company was commercializing technology in one of LaunchTN's priority industries including biotech, advanced energy, agtech, or automotive. In addition, priority was given to companies located in Tier 3 and 4 counties or Opportunity Zones, and if the company was either female-owned, minority-owned, veteran-owned, or owned by those with disabilities as per FY22 SBIR Matching Fund Guidelines.

SBIR/STTR Grant Recipients (confirmed companies receiving the award so far, during current reporting period):

East Tennessee

  • American Nanotechnologies Inc.
  • DayLyte Inc. (dba DayLyte Batteries)
  • Neptune Fluid Flow Systems LLC
  • 4XTechnologies LLC
  • Cinco Research Corporation
  • FC Renew LLC
  • SkyNano
  • Eonix LLC
  • Neutroelectric, LLC (dba Becq)
  • Endeavor Composites
  • Addiguru LLC
  • Whisper Aero Inc.
  • CrossLink Composites Inc.
  • RegScale

Middle Tennessee

  • BlueWonder Creative Inc.
  • Xtallized Intelligence Inc.
  • Infusense
  • 3RT Innovations
  • Reliable MicroSystems LLC
  • Patroness LLC dba LUCI
  • Resilient Energy & Infrastructure LLC
  • VasaMetrix, LLC
  • Statheros
  • TensorX Inc.
  • ARMS Cyber
  • International FemtoScience Inc.
  • EndoTheia Inc.
  • Non-Contact Technologies LLC
  • Aviation Resources and Consulting Services LLC (ARCS)
  • Enexor BioEnergy

West Tennessee:

  • Secure Food Solutions Inc.
  • Diatech Diabetes Inc.
  • Dextrous Robotics
  • Preteckt Inc
  • Foundation Instruments Inc.
  • Avadain Inc.

(###) lasted edited 1154 5 Oct 2022

Related Articles
Tags: 3RT Innovations, 4XTechnologies, Addiguru, American Nanotechnologies, ARCS, ARMS Cyber, Avadain, Aviation Resources and Consulting Services, Becq, BlueWonder Creative, Cinco Research Corporation, CrossLink Composites, DayLyte, DayLyte Batteries, Dextrous Robotics, Diatech Diabetes, economic development, Endeavor Composites, EndoTheia, Enexor BioEnergy, Eonix, FC Renew, Foundation Instruments, HD CLEAN, Infusense, International FemtoScience, Launch Tennessee, LaunchTN, LUCI, Neptune Fluid Flow Systems, Neutroelectric, NonContact Technologies, Patroness, Preteckt, RegScale, Reliable MicroSystems, Resilient Energy Infrastructure, SBIR, Secure Food Solutions, SkyNano, Statheros, STTR, Tennessee Technology Development Corporation, TensorX, TTDC, VasaMetrix, Whisper Aero, Xtallized Intelligence

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: