NJ Small Business Development Center receives SBA grant – NJBIZ

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The New Jersey Small Business Development Center (NJSBDC) received a grant through the Small Business Administration’s (SBA) Federal and State Technology (FAST) Partnership Program.
Announced Oct. 3, the grant is part of more than $5 million in total funding that went to 44 awardees through SBA’s FAST program, which provides small businesses and startups – particularly those in underserved communities – with specialized training, mentoring, and technical assistance for research and development.
The grant selectees qualify for award amounts of up to $125,000 each.
SBA Administrator Isabella Casillas Guzman, center, and U.S. Rep. Andy Kim, center right, hold a Small Business Roundtable with entrepreneurs, SBA resource partners, chambers of commerce officials, and other stakeholders at Olga’s Diner in Marlton on July 8, 2022. – SBA
“We are looking forward to continuing to work with the New Jersey Small Business Development Center and the Puerto Rico Small Business Development Center in supporting local small businesses with the resources needed to thrive, especially during this period of economic recovery,” said Region II Regional Administrator Marlene Cintron, who oversees the SBA’s operations in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands. “FAST partners will fill an important role in assisting SBA in ramping up its efforts to help build America’s next great economy by increasing the number of Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Program awards through outreach, technical and business assistance and financial support to women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas.”
The SBA says FAST is part of its efforts to create an inclusive entrepreneurial ecosystem and help American entrepreneurs grow their networks and revenue opportunities with new capital, which is a priority of SBA Administrator Isabella Casillas Guzman.
“When we enable equitable access to federal research funding, we empower more of our nation’s entrepreneurs and scientists to translate their cutting-edge ideas into commercial enterprises,” said Guzman. “This is why double our funding of FAST grants and expanding the network of awardees is so critical to building a stronger and more inclusive innovation economy that invests in all of our communities.”
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