18 Early Stage Companies Named Recipients of the Arizona Commerce Authority AZ Fast Grant
PHOENIX, AZ (July 9, 2014) — The Arizona Commerce Authority (ACA) has selected 18 recipients for AZ Fast Grant, a highly competitive grant program that provides qualified Arizona-based, early stage technology companies with intensive training and technical assistance to help them commercialize their innovations, grow their businesses and create quality jobs.
“Early stage companies play a key role in developing innovations that fuel our state’s economy,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “The AZ Fast Grant program helps companies with critical training, technical expertise and the ‘know how’ to secure additional funding and commercialization opportunities to propel their businesses.”
Companies may use AZ Fast Grant awards for professional consulting services (that may include an expert review of technology under development); a commercialization feasibility study; or other commercialization assistance such as training to compete more effectively for federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) funding programs.
More than 50 Arizona small businesses applied for this round of the AZ Fast Grant program and awardees represent a variety of target industries.
AZ Fast Grant Recipients include (Total: $141,000, plus an additional $134,000 in leveraged funds):
- Arbsource, Tempe – Bio & Life Sciences
- Arizona Medical Systems, Peoria – Bio & Life Science
- Elliptical Mobile, Chandler – Advanced Manufacturing
- Engineering Science Analysis Corp., Tempe – Aerospace/Defense
- Grannus, Tucson – Cleantech/Renewable Energy
- Hildeez Enterprises, Peoria – Bio & Life Science
- MediCoventures, Peoria – Bio & Life Science
- Movement Interactive, Laveen – Bio & Life Science
- Kulira, Peoria – Bio & Life Science
- Prime Solutions Group, Goodyear – Aerospace/Defense
- QuantTera, Scottsdale – Advanced Materials
- Saccadous, Scottsdale – Bio & Life Science
- Score Algae, Scottsdale – Cleantech/Renewable Energy
- SiO2 Nanotech, Phoenix – Advanced Materials
- StatTransfers, Flagstaff – IT-Software
- Verve, Peoria – Bio & Life Sciences
- Vicinity Health, Chandler – Bio & Life Sciences
- YourLabs, Tucson – IT-Software
“I can honestly say the AZ Fast Grant really helped us get over the hump,” said Joe Marvin, Founder and President of Prime Solutions Group, a systems engineering and IT services company providing consulting expertise to government and defense contractors. Prime Solutions Group received AZ Fast Grant awards this year and in 2013.
With the help of AZ Fast Grant program support and technical expertise, the company recently secured $1 million in federal funding from the U.S. Department of Defense for its SBIR/STTR program submission this past fall. “We used our last AZ Fast Grant for commercialization strategy development, and that went directly into our federal proposal,” said Marvin.
The AZ Fast Grant is part of a suite of ACA programs that assist small businesses and startups. Others include the Arizona Innovation Accelerator Fund (AIAF), Arizona Innovation Challenge and AZ STEP Grant.
Joseph Valdez, Arizona Commerce Authority, (602) 845-1234, email@example.com
About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create – attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter at @azcommerce.