SkyNano Technologies praises restoration of funds that will help advance its core technology
The Tennessee Advanced Energy Business Council is pleased to announce Tennessee’s 2021-2022 Budget included $7,000,000 in non-recurring funding for the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) Matching Fund.
This SBIR/STTR Matching Fund restoration would not have been possible without the hard work of Launch Tennessee, the Tennessee Department of Economic and Community Development, and other key stakeholders across the state.
“The Tennessee Advanced Energy Business Council applauds the General Assembly and Governor Bill Lee’s allocation of $7 million in funding for the SBIR/STTR Matching Fund,” said TAEBC Executive Director Cortney Piper. “TAEBC champions advanced energy as a job creation and economic development strategy. One of our commitments to our members is to foster the growth of Tennessee advanced energy technologies and startups, such as those in our Energy Mentor Network program. The restoration of the SBIR/STTR Matching Fund is essential to helping us meet this goal.”
Anna Douglas, Co-Founder and CEO of SkyNano Technologies, an Innovation Crossroads and Energy Mentor Network graduate, was instrumental in highlighting the need for these funds for innovative entrepreneurs in the region. Earlier this year, Douglas penned an Op-Ed in the Knoxville News Sentinel and an open letter to her state representative, highlighting her need for the SBIR/STTR Matching award. SkyNano received an SBIR Matching grant in 2020 and was counting on the restoration of these funds to support the development of its technology and cover the cost of necessary expenses that were not covered by the SBIR/STTR program.
“We are relieved and excited that the SBIR/STTR Matching program funding has been restored in the state budget,” said Anna Douglas, Co-founder and CEO of SkyNano Technologies. “The SBIR/STTR Match program helps businesses like SkyNano thrive in the state and continue to pull in more federal SBIR/STTR funding to continue creating jobs for talented Tennesseans.”