TEDCO Announces 2023 SBIR/STTR Proposal Lab Cohort

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Jan 31, 2023, 11:21 ET

Total of 24 Maryland companies to receive expert advice and proposal support

COLUMBIA, Md., Jan. 31, 2023 /PRNewswire/ -- TEDCO, Maryland's economic engine for technology companies, announced the selection of 24 Maryland companies to participate in the FY2023 FAST SBIR/STTR Proposal Lab cohort. This program, now in its fifth year, supports companies in the cohort, allowing them to work closely with TEDCO experts on preparing polished proposals for up to $275,000 in federal awards through the SBIR/STTR Phase 1 program. The companies in this year's cohort encompass a variety of technology disciplines, from medical devices to quantum computing to even biomanufacturing.

"TEDCO is dedicated to supporting innovators throughout Maryland. As such, we continue to look for new ways to improve their chances of success—that's what our Proposal Lab is for," said TEDCO CEO Troy LeMaile-Stovall. "Through this program, TEDCO can work to increase the chance Maryland companies' success when applying for the SBIR/STTR funding opportunities."

What is SBIR/STTR?
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, housed in 12 federal agencies and coordinated by the U.S. Small Business Administration, are the Nation's largest source of non-dilutive government early stage/high-risk funding for startups and small businesses. These highly competitive programs are designed to encourage small businesses with potential for commercialization to engage with Federal Research/Research and Development (R/R&D). The awards-based program enables small businesses to explore their technological potential while providing an incentive to profit through commercialization.

Proposal Lab Participation Leads to Higher Success Rates
Companies selected to participate in TEDCO's Proposal Lab and submit proposals are, on average, seeing an award rate of 39%. This is more than double the national average of 15% for Phase 1 SBIR awards. In partnership with the Rockville, Md woman-owned OST Global Solutions, this six-month lab will connect companies with experts from TEDCO's Network Advisor program; these experts will provide the cohort with actionable feedback through two proposal reviews, thereby increasing the company's likelihood of award.

Throughout the proposal lab, TEDCO will bring in experts from selected government SBIR/STTR program offices to provide information and answer questions on everything from timing, to writing style, and to what makes a proposal compelling.

"The SBIR program is a wonderful opportunity for companies to be awarded non-dilutive funding to further their innovation research; the program attracts numerous applicants, making it extremely competitive," said Kim Mozingo, director of TEDCO's Federal Programs. "But through our Proposal Lab, we give companies the tools, education, and guidance they need to ensure their applications have the best chance for success."

The 24 Maryland Companies Selected for the FY2023 Cohort

About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.

Media Contact
Tammi Thomas, Chief Marketing & Communications Officer, TEDCO, [email protected]

SOURCE TEDCO