INDIANAPOLIS (Feb. 10, 2022) – Indiana companies developing everything from electric aircraft to immunotherapy have received $748,000 in funding from the Elevate Ventures Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) matching program.
The funding is the total Phase I matching funding issued during the final six months of 2021. The Indiana SBIR/STTR program is managed by Elevate Ventures in partnership with the Indiana Economic Development Corp. In July 2021, Elevate expanded its support of the initiative to include Phase II matching in addition to its longstanding support of Phase I. SBIR/STTR Phase I evaluates the feasibility and potential for research and development (R&D) projects and company performance, while Phase II is used to continue product development and commercialization efforts.
As the largest source of early-stage technology financing in the United States, SBIR/STTR programs encourage small businesses to explore their technological potential. The funding is available from 11 participating agencies throughout the U.S. and focuses on a variety of technological fields.
“The SBIR matching grant from Elevate Ventures has helped Trek10 put additional resources into customer discovery, which is critical to be eligible for AFWERX SBIR Phase II applications,” said Jim Abercrombie, president of Trek10. “Finding the right customer is not only a requirement to make a Phase II application, but it greatly increases the likelihood of a SBIR Phase III contract as well.”
Fifteen companies received over $748,000 in Phase I matching funding from Elevate Ventures in addition to $2.8 million in federal Phase I grants. Some of the companies include:
- AirBuoyant LLC, Anderson: Designs and builds electric aircraft.
- AnalySwift, LLC, West Lafayette: Provides simulation software for composite materials.
- FlightProfiler, LLC, Lafayette: Develops machine learning and quantum computing software.
- Grannus Therapeutics, Inc., Indianapolis: Develops and commercializes innovative therapies for difficult to treat diseases including multiple types of cancer.
- Maijker Corp., West Lafayette: Develops a unique smart monitoring system to listen to the internal sounds of machines.
- Manufacturing Technology, Inc., South Bend: Custom-engineers friction welding and solid-state joining solutions for multiple industries.
- OpalGenix, Inc., Carmel: Provides clinical decision-making for optimal opioid use and pain management.
- Polar Clean, LLC, South Bend: Delivers engineered cleaning solutions in market segments including government, food manufacturing and more.
- SIMBA Chain, Inc., Plymouth: Provides a platform for connecting applications and data to the blockchain efficiently.
- Sisk Rifles Manufacturing LLC, Tell City: Develops a multi-axis buttstock (MABS) to increase comfort and stability.
- Teichos Laboratories, LLC, Indianapolis: Develops immunotherapies with technology based on chemical synthesis of a biomolecule.
- Third Coast Federal, Inc., South Bend: Connects the Department of Defense with entrepreneurs, faculty and innovative small businesses.
- Trek10, Inc., South Bend: An Amazon Web Services Premier Partner that builds serverless and event-driven architectures for clients.
- Wolf Technical Services Inc., Fishers: Multi-disciplined engineering design and product development for military, medical, transportation and industrial markets.
To apply for Phase I or Phase II matching dollars, support letters or assistance, please click here.
