Montgomery County Launches New Matching Grant Program to Help Grow Biotechnology Sector

For Immediate Release: Wednesday, July 11, 2018

Montgomery County companies may soon apply online for the County’s new Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Grant Program. Applications will be accepted beginning at 10 a.m. on Monday, July 16.

Eligible companies must have been awarded a SBIR or STTR Phase I or Phase II grant during the current calendar year by the National Institutes of Health (NIH), and must conduct at least 51 percent of research and development operations in Montgomery County.

“While some states provide a matching grant such as this one, Montgomery County is the only local SBIR/STTR matching fund program in the country,” said Laurie Boyer, economic development manager in the County’s finance department. “This will help us to both retain and attract companies in the life sciences industry working on research and development projects.”

Companies are eligible to receive a match of 25 percent up to a maximum of $25,000 for a SBIR/STTR Phase I grant, or a match of 25 percent up to a maximum of $75,000 for a SBIR/STTR Phase II grant.  Companies are able to receive a local match once per year for up to a total of five grant awards.

Applications will be received on a first come, first served basis. All companies that meet the established criteria will be approved, and the grant funding will be awarded through the County’s payment process. There are no deadlines but there is a limited amount of funding to support the matching grants. The Montgomery County Council approved $425,000 in the fiscal year 2019 budget to support this program. The available funds will be evenly divided for Phase I and Phase II matching grant awards. The Department of Finance is implementing the new matching fund program.

For more information about the program, visit the Montgomery County Business Portal, here.  

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Release ID: 18-613
Media Contact: Sonya Burke 240-777-6531