The AZ Fast Grant competition
will open on Monday, March 10!
This competitive grant enables Arizona-based technology companies to initiate the commercialization process. Total funds available for this grant round are $175,000.
Maximum awards of $5,000 and $20,000 will enable companies to accomplish one of four scopes of work.
- SBIR/STTR Proposal Development (Maximum award $5,000)
- Awardees will be automatically enrolled in our PIII Playbook training class with 23 hours of training and coaching. Cost per company to participate is $1,500. This will be paid from the AZ Fast Grant award. Services will be provided by consultants under contract with ACA.
- We are providing an additional $3,500 to the awardee for SBIT/STTR proposal writing assistance. The awardee may hire any professional consultant to assist them.
- Commercialization Feasibility Study (Maximum award $5,000) The awardee may hire any professional consultant to assist them.
- Identify show stoppers to commercialization before resources are spent commercializing a technology that is unlikely to succeed.
- Other Acceptable Means of Technology Commercialization Assistance (Maximum award $5,000) The awardee may hire any professional consultant to assist them.
- Technology Review – An expert review of the technology under development to determine if it already exists, is a good candidate for intellectual property protection and is likely to find an attractive market.
- Requests for other acceptable means of technology commercialization assistance will be considered.
- Innovation in Manufacturing (Maximum award $20,000)
- This award provides seed monies for the creation and proof of concept testing of disruptive tools and technologies to Arizona manufacturing firms in targeted business sectors.
- Commercialization of these tools and technologies is our top goal.
- Solution providers, i.e. – consultants, training firms, engineering and technology companies, and educational institutions, are required to team with manufacturers to submit proposals.
- Each proposer must identify a teaming arrangement with Arizona manufacturers. Preference will be given to proposers teaming with multiple manufacturing partners.
- Applicants and their manufacturing partners must leverage the award funds with a partial match of the requested award amount.
- Applicants must demonstrate a 50% match (cash and in-kind) of the requested award amount. Preference will be given to applicants with higher cash to in-kind ratio.
- Manufacturing partners must provide a total award match of at least 25% cash and/or in-kind, i.e. – labor, materials, machine time, plant overhead, etc. Preference will be given to applicants with higher industry in-kind contributions.
- Match requirements for a theoretical award might look like:
Innovation in Manufacturing Award $20,000
Proposer Match (50%) $10,000
Sub Total $30,000
Total of Manufacturing Partners’ Match (25%) $7,500
Total Grant Value $37,500
- Applications must be completed on-line via the link on the AZ Fast Grant webpage .
- Closes on April 14 @ 5pm MST.
- Awards will be announced in June.