SBA Awards $9M Startup Grant Funding

The U.S. Small Business Administration has awarded $9 million in grants to organizations across the country that support startups. 

Under the Federal and State Technology Partnership Program, organizations received grants up to $200,000 each. 

FAST provides funding to organizations to execute state or regional programs that increase the number of American Seed Fund proposals. 

The  grants are intended to improve outcomes for underserved communities by increasing participation from women-owned, rural-based, or socially or economically disadvantaged small businesses.

The program provides awards for a base 12-month period, plus four optional continuation periods of 12 months each. 

Connecticut Innovations is among the grant recipients for this year’s base award.

As the Connecticut’s venture capital arm, the organization invested $28.6 million in 70 companies and venture funds in FY24.