ACA Reopens AZ Fast Grant Program

ACA REOPENS AZ FAST GRANT PROGRAM

Technology Commercialization Assistance for Early Stage Businesses Now Available

PHOENIX (December 13, 2011) – As part of its ongoing efforts to assist early stage technology companies, The Arizona Commerce Authority is launching the AZ FAST Grant Program. This competitive grant program provides seed money to technology based companies to help initiate the commercialization process.

Companies with less than 30 employees and revenues lower than $2 million can receive up to $7,500 for professional consulting services to help bring their product to the next stage of completion. Companies will be competing for a total of $175,000 in grants that can be used for the following services:

  • An expert review of the technology under development to determine if it already exists, is a good candidate for intellectual property protection and is likely to find an attractive market.
  • A commercialization feasibility study to identify showstoppers to commercialization before resources are spent commercializing a technology that is unlikely to succeed.
  • Other commercialization assistance such as training or preparation for the submission of a federal SBIR/STTR grant application or another acceptable means of technology commercialization.

“Great ideas and innovation come from all corners of our state,” said Don Cardon, president and CEO of the Arizona Commerce Authority. “The AZ FAST Grant program is the shot in the arm for a company looking to take the next step in bringing their idea to life.”

In order to qualify for the grant, companies must have a physical presence in Arizona, and the product must be geared toward one of ACA’s key sectors (science/technology, aerospace and defense, or renewable energy).

A full description of the requirements and grant application is online at http://www.azcommerce.com/az-fast-grant.aspx.  Applications are being accepted now through January 16, 2011.

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Media Contact:

Nicole McTheny, Senior Vice President, Communications and Marketing

Arizona Commerce Authority

602.845.1231 or nicolem@azcommerce.com

About the Arizona Commerce Authority:

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit AzCommerce.com for more.