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Matching Funds Boost Up Start-Up Tech Companies

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Stony Brook University has released the first set of matching grant funds for vital research laboratory equipment to Nassau and Suffolk Small Business Innovation Research (SBIR) awardees. The matching State funds will allow Long Island companies to leverage the federal SBIR research funds to accelerate technology and manufacturing commercialization to create jobs and economic impact in the region. This $1.2 matching grant program is funded by an incentive package offered by Empire State Development and administered by the Small Business Development Center (SBDC) and The Research Foundation.

STRIDE program

Startups face daunting challenges raising capital to develop and commercialize emerging technologies, many locally conceptualized at Stony Brook University, Brookhaven National Laboratory or Cold Spring Harbor Laboratory. According to Stony Brook SBDC Regional Director, Bernie Ryba, programs such as these “help to further bridge the funding gap to assure entrepreneurial success.”

Thus far a total of $50,000 was released to four companies: Codagenix, Inc., a software-based vaccine developer with offices in Broad Hollow Bioscience Park in Farmingdale;  Brookhaven Technology Group, a science and engineering technology innovator located in the Advanced Energy Research and Technology Center (AERTC) at Stony Brook University; Applied DNA, a provider of molecular-based security and authentication solutions, located in the Long Island High Technology Incubator at Stony Brook University; and Nanoprobes, a nanoparticle research collaborative dedicated to finding cures for cancer and other serious diseases located in Yaphank.

For information about the program, please contact Martha Stansbury at the Stony Brook SBDC martha.stansbury@stonybrook.edu

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