New funding to help 10 Massachusetts companies commercialize technologies
MassVentures announced on July 17, 2012 the 10 winners of the 2012 START program. START is a $6 million initiative funded by the Patrick-Murray Administration to help growing companies commercialize technologies developed under Small Business Innovation Research (SBIR) contracts. The program is intended to help high-growth companies grow employment opportunities, promote manufacturing and commercialization, and stimulate innovation across the Commonwealth.
The winners selected from more than 90 applicants are:
Artaic – Custom artistic tile mosaics, using proprietary CAD software and advanced robotic manufacturing systems
BioMinetic Systems – Design and manufacturing of digital acoustic detection and localization systems
Capesym – Novel materials for advanced radiation detection
CeraNova – CeraNova provides technological advantages with advanced nanograin,
transparent ceramics for optical, structural and electrical applications
Incom – Supplier of rigid fused fiber optics for commercial applications
KaZak Composites – Value-added composite materials engineering and production
Locately – Locately uses mobile technology to engage with shoppers while they’re making decisions
Metamagnetics – Advanced materials and electronics to develop novel microwave materials and device solutions
Muzzy Lane – Creator of innovative, award-winning educational games
Physical Sciences Inc. – Developing micro-air vehicle systems for surveillance and security applications
“Small businesses are the engine of the Massachusetts economy and the Patrick-Murray Administration is committed to supporting small businesses throughout the commonwealth to grow and create good paying jobs,” said Secretary Greg Bialecki. “Through programs like START, our small businesses are at the forefront of the 21st century economy and today’s START winners are a prime example of why Massachusetts is recovering faster and stronger than the nation.”
The 10 winners will receive $100,000 immediately and then based on progress demonstrated over the first year, an additional Stage II grant of up to $200,000 will be awarded to the five most promising companies. At the end of the second year, two companies will be chosen for a $500,000 investment based on their potential for growth and profitability. The program will be repeated annually with the application process opening again in early 2013.
“The success of the START program is due in part to the vision and commitment of Bob Weiss, President of Technology Transitions. With his help, MassVentures is one step closer to meeting its mission to help fill the funding gap and fuel the innovation economy,” said Jerry Bird, President of MassVentures. “This year’s winners are a strong indicator of the depth and breadth of innovative technologies coming out of the Commonwealth to support the economy and job growth.”
For more details on the program, eligibility requirements and the application and granting process, please visit www.mass-ventures.com/start.html.