Home Somerset business CSIT awards over $ 1 million in grants to small businesses

CSIT awards over $ 1 million in grants to small businesses

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Thirty-seven start-ups have received more than $ 1 million in funding from the New Jersey Commission on Science, Innovation and Technology.

The grants are part of the third round of the Direct Financial Assistance component of the Small Business Innovation Research and Technology Transfer for Small Business Program. To date, the CSIT has awarded a total of $ 1.9 million to 66 Garden State companies over the program’s three funding cycles.

Each of these start-ups are currently engaged in federal SBIR and / or STTR programs. The awards will strengthen the state’s innovation economy by giving these New Jersey-based companies the strength and resources they need to be competitive when participating in federal programs.

Federal grant programs SBIR and STTR provide more than $ 3 billion annually to small businesses in various fields of technology and life sciences who come up with innovative ideas that meet specific federal research and development needs. .

This postgraduate program awarded $ 1,075,000 in grants to 37 New Jersey small businesses in two program streams:

  1. Direct Funding: Awarded $ 25,000 in grants totaling $ 775,000 to 31 small businesses that have received a federal SBIR / STTR Phase I, Fast-Track, or Direct to Phase II contract / contract. The grants aim to help fellows increase research intensity, strengthen commercialization plans, cover operational expenses, and become more competitive for Phase II funding.
  2. Bridge Funding: Awarded $ 50,000 in grants totaling $ 300,000 to six New Jersey small businesses that successfully completed Phase I and applied for Phase II of the federal SBIR / STTR program.

“With resources from the CSIT SBIR / STTR Direct Financial Assistance Program, New Jersey is taking bold steps to achieve Governor (Phil) Murphy’s goal of creating the most competitive innovation ecosystem in the country,” said said CSIT President Gunjan Doshi.

CSIT Executive Director Judith Sheft noted that the number of winners has tripled from 12 winners in the first round to 37 in the third round. Additionally, 11 of the 37 companies are affiliated with four New Jersey research universities through innovative technology licensing agreements.

“This program is helping accelerate the growth of innovation-driven businesses in New Jersey, and we’re excited to see small businesses take advantage of these critical resources,” Sheft said. “In this latest round of funding, participating companies were able to leverage the SBIR grant to reach over $ 18 million in additional federal funding.”

The focus areas of the winners fell into the following categories, all of which were identified in Murphy’s Strategic Economic Development Plan as high-wage, high-growth sectors: technology, life sciences, clean energy, and advanced manufacturing. .

Here’s who’s got what:

$ 25,000 in grants

  1. 1Huddle Inc. (Newark, Essex County)
  2. AG350 Inc. (Princeton, Mercer County)
  3. BioTillion LLC (Skillman, Somerset County)
  4. Blue Rock Solutions Inc. (Williamstown, Gloucester County)
  5. Celestron Technologies LLC (Moorestown, Burlington County)
  6. CloudJuncxion Inc. (Bridgewater, Somerset County)
  7. Culnexin Therapeutics (Princeton Junction, Mercer County)
  8. Dandelion Science Corp. (Hoboken, Hudson County)
  9. Fabricated Software Inc. (Cedar Grove, Essex County)
  10. Generation Biotech (Princeton, Mercer County)
  11. HiT Nano Inc (Bordentown, Burlington County)
  12. Impact Business Information Solutions Inc. (Princeton, Mercer County)
  13. InnoSepra LLC (Middlesex, Middlesex County)
  14. Kathera Bioscience Inc. (Union, Union County)
  15. Knowledge To Own Inc. (Springfield, Union County)
  16. Manhattan BioSolutions LLC (Fort Lee, Bergen County)
  17. Marine Electric Systems Inc. (South Hackensack, Bergen County)
  18. Mindprint Learning LLC (Princeton, Mercer County)
  19. Misram LLC (Holmdel, Monmouth County)
  20. NanoSepex Inc. (Newark, Essex County)
  21. NeuroTechR3 Inc. (Warren, Somerset County)
  22. One World Design and Manufacturing Group (Warren, Somerset County)
  23. Palindrome Technologies (Hazlet, Monmouth County)
  24. Phoresis Inc. (Princeton, Mercer County)
  25. RadioSight LLC (Hoboken, Hudson County)
  26. Regenosine Inc. (Jersey City, Hudson County)
  27. Simphotek Inc. (Newark, Essex County)
  28. Speckodyne Corp. (Hamilton, Mercer County)
  29. StemPlant LLC (Camden, Camden County)
  30. CARE SOLUTIONS LLC TEAM (Fort Lee, Bergen County)
  31. Tendo Technologies (Princeton, Mercer County)

$ 50,000 in grants

  1. BANC3 (Princeton, Mercer County)
  2. Cell Podium LLC (Newark, Essex County)
  3. Fuceltech Inc. DBA Princeton Innotech (West Windsor, Mercer County)
  4. Princeton NuEnergy (Bordentown, Burlington County)
  5. SubUAS LLC (Hillsborough, Somerset County)
  6. Venarum Medical LLC (Eatontown, Monmouth County)

In February 2021, the CSIT awarded $ 450,000 in matching grants to 16 New Jersey small businesses engaged in the federal SBIR / STTR program.