NYSTAR Innovation Matching Grants: $4.6 Million Boosts Small Business Growth in New York

November 15, 2024 Catherine Williams News
News Context
At a glance
  • New Initiative Boosts Small Business Growth and Technology Development in New York State
  • Empire State Development’s Division of Science, Technology, and Innovation (NYSTAR) has announced the award of $4,637,226.00 to 35 businesses through its Innovation Matching Grants program.
  • NYSTAR received over 35 applications within one week of opening the first funding round.
Original source: esd.ny.gov

New Initiative Boosts Small Business Growth and Technology Development in New York State

Empire State Development’s Division of Science, Technology, and Innovation (NYSTAR) has announced the award of $4,637,226.00 to 35 businesses through its Innovation Matching Grants program. This initiative, started in May 2024, supports small businesses and technology advancement in New York.

NYSTAR received over 35 applications within one week of opening the first funding round. The grants target 18 strategic technology areas, including Additive Manufacturing, Artificial Intelligence, Energy Storage, and Biotechnology. Businesses that received federal funding from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs were eligible for matching grants up to $200,000.

The program aims to provide additional support for projects that focus on commercialization services not funded by federal awards. This includes services like marketing and legal assistance.

Empire State Development President, CEO, and Commissioner Hope Knight stated, “New York is the heart of innovation. These grants help small business entrepreneurs in high-growth industries turn their potential into real economic progress.”

Ben Verschueren, Executive Director of NYSTAR, commented on the strong response to the funding round. He emphasized that small businesses need funding for important steps like protecting intellectual property and increasing awareness of their innovations.

List of Companies Awarded NYSTAR Innovation Matching Grants:

  1. Aincobio LLC – Central NY
  2. Alpha-En Corporation – Mid-Hudson
  3. Carbon To Stone, Inc – Finger Lakes
  4. DataCicda LLC – Finger Lakes
  5. Graphenix Development, Inc – Western NY
  6. IAMBIC, Inc – New York City
  7. IBEX Materials, Inc – Western NY
  8. Nearabl, Inc – New York City
  9. Photonect Interconnect Solutions, Inc – New York City
  10. sxRNA Technologies, Inc – Capital Region
  11. Tezcat Biosciences, Inc – New York City
  12. Xallent, Inc – Capital Region
  13. Zetagen Therapeutics, Inc – Central NY
  14. Addinex Technologies, Inc – New York City
  15. Anew Material – New York City
  16. Atrevida Science, Inc – Western NY
  17. Chimerna Therapeutics – New York City
  18. Circadian OS – New York City
  19. ESM Global Productions, LLC – New York City
  20. Immunotolerx Therapeutics, LLC – Western NY
  21. KLAW Industries – Southern Tier
  22. Labby – Finger Lakes
  23. LiBama Power – Southern Tier
  24. LighTopTech Corp – Finger Lakes
  25. Lucerna, Inc – New York City
  26. Mahattan BioSolutions, Inc – New York City
  27. Mission Power Corp – North Country
  28. Nephrogen Inc – New York City
  29. Pharmacoustics Technologies, LLC – North Country
  30. Retrn Bioworks, Inc – Finger Lakes
  31. SunThru, LLC – Capital Region
  32. SUPERClean Glass, Inc – Long Island
  33. UbiquiTx, Inc – New York City
  34. Vyir, Inc – New York City
  35. Xylyx Bio, Inc – New York City

Note: Awards depend on the successful agreement for grant disbursement.