Research Report '04
 MU Office of Research Home page. Year In Review. Technology Development. Sponsored Research. Instruction & Public Service. 2003 & Beyond.
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Tech Start-Up to Market Fertility Breakthroughs

Extension Program Boosts Small Business Support

Extension Program Boosts Small Business Support

Greater numbers of start-up technology companies in Missouri are taking advantage of federal grants and contributing millions of dollars to the state's economy -- thanks to a program operated by University of Missouri Extension.

The Missouri Federal and State Technology Partnership (MoFAST) helps the U.S. Small Business Administration, MU Extension and its partners to bring government research and development awards to Missouri's small businesses. The MoFAST program was established in 2002 to encourage businesses in the state to take advantage of the federal Small Business Innovative Research grant program (SBIR) and the Small Business Technology Transfer program (STTR).

In the previous year, Missouri small businesses had received a total of 16 awards from the SBIR and STTR programs, resulting in a state ranking of 46. After MoFAST implementation, Missouri received 40 awards, infusing more than $8 million in federal money into Missouri's entrepreneurial high-technology start-up companies.

Just 30 percent of states nationwide receive more than 50 awards per year," says Mike Nichols, adjunct associate professor in the MU College of Engineering and state director of MU Extension's MoFAST centers. "Thanks in large part to the MoFAST program, Missouri is now poised to enter that very select group."

 
       
   
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