Editor's note: Five of the seven companies receiving $1.8 million in Kentucky matching funds have ties to the University of Kentucky. The high-tech companies are: Orthopeutics/Intralink (relocated to Coldstream Research Campus from Austin, Texas, Tom Hedman has joined the faculty with a joint appointment in biomedical engineering and neurosurgery), nGimat (working with College of Engineering and the UK Center for Applied Energy Research), 3H Company (located in UK's largest on campus incubator known as ASTeCC, will be moving soon to Coldstream Research Campus), Vindico NanoBioTechnology (located in UK's ASTeCC campus incubator), and Advanced Dynamics (located at Coldstream Resaerch Campus). Company descriptions are at the end of the press release.
LEXINGTON, Ky. (Sept. 22, 2010) —Gov. Steve Beshear announced awards totaling more than $1.8 million to seven Kentucky high-tech companies as part of a Kentucky initiative to attract and support technology-based small businesses. Through the state's competitive SBIR-STTR Matching Funds program, Kentucky matches federal SBIR-STTR awards received by Kentucky companies or those willing to relocate to Kentucky. This seventh round of state awards supplements more than $2.4 million in federal funding made to the firms.
The state matching funds were awarded after the high-tech firms received grants in Phase 1 or Phase 2 of the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Kentucky is the first and only state to match both phases of the federal program: up to $150,000 to match Phase 1 federal awards and up to $500,000 per year to match Phase 2 federal awards. To date, the state's SBIR-STTR matching program has made a total of 91 awards to 52 Kentucky high-tech companies for a combined $20.5 million in state funds, leveraging more than $37.4 million in federal funds. The program has also helped bring 10 new high-tech businesses to the Commonwealth to benefit from the matching funds.
"Kentucky's unique program is widely recognized as the top SBIR-STTR matching program in the nation," said Gov. Beshear. "Not only do these awards help support our high-tech small businesses, they bring in tens of millions of dollars in federal funding that indirectly benefit other Kentucky companies and their employees who provide products and services in support of our research industry."
The seven Kentucky companies receiving matching funds specialize in areas as diverse as human health and development, energy, nanotechnology, bioscience, materials science and advanced manufacturing.
nGimat Co., which relocated from Georgia to Lexington, will initially develop advanced energy storage nanomaterials for use in next-generation lithium-ion automotive batteries, as well as in energy storage components for the emerging electrical smart-grid. nGimat's facility will also produce nanopowder using the company's proprietary process. www.ngimat.com
Advanced Genomic Technology LLC, of Louisville, is developing a genetic test to identify specific disease biomarkers in patients who have Alzheimer's disease. www.advancedgenomictechnology.com
Talon Technologies, of Covington, is developing a high-performance flexible conduit for use with the Army's rapidly installed fuel transfer system during active combat deployments.
Orthopeutics Inc., which relocated from Texas to Lexington, is developing a nonsurgical treatment for degenerative disc disease and associated lower-back pain. The treatment involves injecting a tissue revitalization material into the spinal disc to mechanically reinforce and stabilize the joint and decompress the surrounding neural tissues without the need for invasive spinal surgery. www.intralink-spine.com
3H Company LLC, of Lexington, is developing technology that captures and stores carbon dioxide underground to help reduce greenhouse gas emissions from coal-fired power plants. The company's novel absorbent also helps reduce energy loss during the coal capture process.
Vindico NanoBio Technology Inc., of Lexington, is developing a synthetic oxygen therapeutic, a blood substitute, that can be administered to patients and help reduce blood shortages. www.vindicopharma.com
Advanced Dynamics Inc., of Lexington, is developing software that enables more accurate designs of aircraft wings and rotor blades, while providing rapid and reliable aeromechanics assessment. www.advanceddynamics-usa.com
The Cabinet for Economic Development, through its Department of Commercialization and Innovation (DCI), manages the Kentucky SBIR-STTR Matching Funds program, which is administered under contract to DCI by the Kentucky Science and Technology Corporation (KSTC).
"Kentucky's SBIR-STTR matching program has generated a lot of interest nationwide," said DCI Commissioner Deborah Clayton. "Not only have the awards brought 10 high-tech firms – and their jobs – to Kentucky from other states, but they have greatly increased the number of Kentucky companies that are applying for and winning federal SBIR and STTR awards."
Applications for each round of the program are accepted by KSTC on a regular basis. A link to the online guidelines and application form for the Kentucky program are posted at www.ThinkKentucky.com/dci/SBIR.