Five Oregon firms earn Small Business Innovation Grants
OREGON — Thanks to a new investment from Business Oregon, five state businesses will benefit from more than $300,000 in funds designed to help bring their ideas and innovations to market. The funding will promote technologies and products that help cities build safer energy grids, doctors improve malaria treatment and farmers use fertilizer more efficiently.
The five Oregon small businesses that received $301,146 in state grants, along with their product or technology, are:
DesignMedix: Drug to improve malaria treatment, $75,000
Energy Storage Systems: Safe, environmentally friendly grid storage battery system, $75,000
SupraSensor: Wireless nitrate testing device so farmers can use fertilizer more efficiently, $61,875
NemaMetrix: Improved drug screen for cheaper, faster testing, $49,100
HM3 Energy: Convert forest waste into biofuel briquettes to replace coal, $40,171
In developing their products, these companies have also received mentoring or investments from Oregon’s signature research centers: Oregon Nanoscience & Microtechnologies Institute, Oregon BEST and the Oregon Translational & Drug Discovery Institute.
The federal fund is known as SBIR/STTR, or Small Business Innovation Research and Small Business Technology Transfer. The grants, administered by the U.S. Small Business Administration, are designed to encourage small companies and universities to pursue risky but rewarding research that helps bring new ideas to market and maintains the United States’ position as the global leader in innovation.
Source: Business Oregon