FRANKFORT, Ky. — Ten high-tech Kentucky companies will receive $2.18 million in state matching funds to promote growth and job creation in high-paying research and technological fields, from disease research to water treatment. The Kentucky grants match in part the recently announced $5.1 million in federal grants the businesses will collectively receive.
“SBIR/STTR funds are a vital component in launching and growing innovative, high-tech companies here in Kentucky,” said Gov. Matt Bevin. “The commonwealth’s matching program is one of the strongest in the nation, enabling us to support early-stage companies with cutting-edge technologies. This year’s recipients are a testament to the outstanding work being done in our state across many disciplines. We look forward to watching them flourish right here in America’s engineering and manufacturing center of excellence.”
The grants are part of the commonwealth’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program. The program, overseen by KY Innovation within the Kentucky Cabinet for Economic Development, matches all or part of federal SBIR/STTR awards received by Kentucky-based companies or companies that commit to relocation in the state.