TAEBC wants your feedback, highlights resources for small businesses during COVID-19 pandemic

During this time of crisis, TAEBC is continuing to champion advanced energy as an economic development and job creation strategy for the state and provide businesses and entrepreneurs with the resources they need to weather this storm. 

To start, TAEBC wants your feedback about what the industry needs to remain solvent and thrive. What could your business use or need in a second round of federal stimulus? Please send your feedback to TAEBC here by email.

“Even in these challenging times, TAEBC continues to champion advanced energy as an economic development and job creation strategy for the state,” said Cortney Piper, Executive Director of TAEBC. “We are committed to our members and stakeholders in fostering the growth of Tennessee’s advanced energy technologies and startups.”

As one of TAEBC’s missions is to foster the growth of Tennessee’s advanced energy technologies and startups, we want to provide resources small businesses and entrepreneurs can use during this crisis. See the resources from Launch Tennessee (LaunchTN) and the U.S. Small Business Administration (SBA) below:

LaunchTN’s COVID-19 Updates, Resources and Tennessee Innovation Crowdsource Platform
LaunchTN has created a special webpage which includes guidance from health officials, updates from statewide network partners, resources to support small businesses and startups, webinars and other virtual learning opportunities, and other information as needed. Browse the list of resources here.

LaunchTN is also partnering with Governor Bill Lee’s COVID-19 Unified Command to invite proposed solutions to the critical challenges the state now faces. Companies, including entrepreneurs and startups, are encouraged to submit proposals via the Tennessee Innovation Crowdsource Platform, which will allow them to evaluate, perform due diligence and recommend selected solutions to state procurement specialists for fast-track treatment.

All innovators are invited to participate, regardless of whether they’re able to scale at the level needed right now. This long-term project will address immediate needs and continue to serve the state far into the future.

SBA Disaster Assistance
Tennessee small businesses are now eligible for disaster assistance from SBA. Businesses impacted by the COVID-19 pandemic may apply for up to $2 million in federal assistance to help overcome the temporary loss of revenue. To learn more about the application process and loan parameters, click here. To apply, follow this link.

The Small Business Owner’s Guide to the CARES Act
The programs and initiatives found in the Coronavirus Aid, Relief, and Economic Security (CARES) Act recently passed by Congress are intended to assist business owners with whatever needs they have right now. There are many new resources available for small businesses, as well as certain nonprofits and other employers. This guide provides information about the major programs and initiatives that are available from the SBA to address these needs, as well as some additional tax provisions that are outside the scope of SBA.

SBA Awards LaunchTN Grant to Support Small Business Innovation and R&D Commercialization

The U.S. Small Business Administration recently granted 24 awards up to $125,000 in the Fiscal Year 2019 through its Federal and State Technology (FAST) Partnership Program. TAEBC’s Energy Mentor Network partner, Launch Tennessee (LaunchTN), was named the grant recipient for Tennessee.

The program’s goal is to improve outcomes for underrepresented entrepreneurs in its Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. FAST also aims to increase participation for rural-based, women-owned and economically disadvantaged firms.

In addition to receiving one-year of funding beginning September 30, the FAST program offers mentorship, technical assistance, specialized training and outreach opportunities for R&D focused small businesses. Organizations use the funding to help enact state and regional programs that support SBIR applicants and awardees.

“FAST partners support an important role in attempting to fill various gaps that R&D-focused small businesses may have to help them win SBIR/STTR awards,” said Acting Administrator Christopher Pilkerton in a prepared statement. “They focus on the needs of next-generation high-tech firms and support them through the entire cycle from ideation to commercialization. SBIR funding is one way to do that. Additionally, a number of these awards are going to partners that are located in Opportunity Zones where job creation and investments are moving forward to revitalize communities.”

To learn more about FAST, follow this link.